H
yatt Hotels has finalized a $2 billion transaction selling its Playa Hotels & Resorts real‑estate holdings, a move that underscores the company’s shift toward an asset‑light model. The portfolio, acquired last year as part of a $2.6 billion purchase of the Playa brand, contains 15 all‑inclusive resorts spread across Mexico, the Dominican Republic and Jamaica, including Hyatt Ziva Rose Hall.

    In September, Hyatt divested one property to an unnamed third‑party buyer for $22 million. The remaining 14 resorts were sold to Tortuga Resorts, a joint venture between an affiliate of Denver‑based KSL Capital Partners and Mexico City‑based Rodina. The deal, first announced in June, was completed on January 5, 2026.

    Hyatt and Tortuga have signed 50‑year management agreements for 13 of the 14 properties, mirroring the terms of Hyatt’s existing all‑inclusive contracts. The sale demonstrates Hyatt’s commitment to its long‑term asset‑light strategy, the company said.

    Tortuga’s CEO, Leo Schlesinger, who joined the firm last month, described the closing as a pivotal moment that positions Tortuga as a leading luxury beachfront platform in Mexico and the Caribbean. The partnership marks a new phase of strategic growth for the brand.