Information Americas, New York, NY, January 6, 2025: A Caribbean all-inclusive resort has been offered for $28.5 million in money.
Playa Inns & Resorts has offered the all-inclusive Jewel Paradise Cove Resort & Spa in Jamaica. The sale comes amid ongoing negotiations with Hyatt Inns Company concerning potential strategic choices, together with a potential acquisition of Playa by Hyatt.
The Jewel Paradise Cove Resort, positioned in Jamaica, was offered to an unnamed third social gathering as a part of Playa’s technique to optimize its portfolio. The transfer is anticipated to strengthen the corporate’s monetary place, improve shareholder worth, and permit a deal with higher-performing properties.
Playa lately confirmed an exclusivity settlement with Hyatt, efficient till February 3, 2025. If a merger materializes, it might exceed Playa’s present $1.2 billion market capitalization, marking a major step for the corporate.
Playa’s portfolio consists of 24 resorts totaling 8,627 rooms throughout prime markets in Jamaica, Mexico, and the Dominican Republic. Of those, eight are operated underneath third-party administration agreements, whereas the remainder are owned and managed by Playa.
This isn’t Playa’s first main sale lately. In August, the corporate offered the Jewel Palm Seashore resort in Punta Cana, Dominican Republic, for about $68 million. These gross sales align with Playa’s technique to divest choose belongings whereas specializing in extra worthwhile ventures.
As Playa refines its portfolio and negotiates a probably transformative cope with Hyatt, the corporate stays a key participant within the all-inclusive resort market within the Caribbean and past.
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