realestate

Hyatt Sells Playa Resorts' Real Estate Portfolio for $2 Billion

Hyatt sells 15 resorts to Tortuga for $2B, retains management rights

H
yatt Hotels Corporation has sold its real estate portfolio acquired from Playa Hotels & Resorts to Tortuga Resorts, a joint venture between KSL Capital Partners and Rodina's affiliate. The $2 billion deal transfers ownership of 15 all-inclusive resorts in Mexico, the Dominican Republic, and Jamaica.

    Key transaction details include:

    * Sale value: $2 billion

    * Buyer: Tortuga Resorts (KSL Capital Partners and Rodina affiliate)

    * Properties: 15 all-inclusive resorts

    * Closing date: Expected Q3 2025

    This sale is part of Hyatt's strategy to operate as an asset-light hospitality company, following its acquisition of Playa Hotels & Resorts for $2.6 billion in June 2025.

    Under the terms of the deal, Hyatt retains long-term management agreements for all 15 properties, with a 50-year term and standard franchise fee structure. The company also receives $200 million in preferred equity in Tortuga Resorts and up to an additional $143 million earnout if certain operating thresholds are met.

    This transaction enables Hyatt to reduce net debt from the Playa acquisition, maintain control of resort operations, and increase fee-based earnings, aligning with its goal of 90% asset-light earnings by 2027.

Hyatt sells Playa Resorts' real estate portfolio for $2 billion in Miami deal.