H
yatt Hotels has agreed to sell its recently acquired Playa Hotels & Resorts real estate portfolio to Tortuga Resorts for $2 billion. The portfolio, which includes 15 all-inclusive resorts in Mexico, the Dominican Republic, and Jamaica, was acquired by Hyatt just two weeks ago.

    Under the deal, Hyatt will no longer own the real estate but will manage 13 of the 15 properties under 50-year management agreements with Tortuga. This move aligns with Hyatt's asset-light strategy, which has driven performance results for the company in recent quarters.

    The transaction is expected to increase Hyatt's fee-based earnings and deliver value to shareholders. The hotel company now expects to earn $60 million to $65 million of stabilized adjusted EBITDA in 2027, making it accretive in the first full year following the deal's closure.

    Hyatt will retain a significant portion of the net earnings from its $2.6 billion Playa acquisition, totaling approximately $555 million. The transaction is subject to regulatory approval and is expected to close by year-end.