Latest news: Hyatt extends Playa offer; Raffles to Mexico; Peachtree adds regional centers for EB-5

Hyatt extends tender offer for Playa. Hyatt Hotels Corp. said HI Holdings Playa B.V., an indirect wholly owned subsidiary of Hyatt, has extended the offering period to May 23 for its previously announced cash tender offer to purchase all of the outstanding ordinary shares of Playa Hotels & Resorts N.V. for $13.50 per share in cash, less any applicable withholding taxes and without interest. The offer is being made under the previously announced purchase agreement dated February 9. Hyatt said the tender offer will continue to be extended until all conditions are satisfied or waived or until the tender offer is terminated.

Raffles to debut in Mexico. Raffles Hotels & Resorts is partnering with Garza García, Mexico-based One Development Group to open the Raffles Estera East Cape Resort & Residences in Cabo San Lucas, Mexico. The hotel, which is scheduled to debut in 2029, is Raffles’ first property in Mexico and its second in North America, joining the Raffles Boston.

Peachtree regional centers for EB-5. Atlanta-based Peachtree Group has secured U.S. Citizenship and Immigration Services approval for four regional centers in the U.S., which will allow the company to independently structure and sponsor EB-5 projects within the designated territories, which will streamline the investment process and enhance efficiency in bringing deals to market. The regional centers cover the continental U.S., giving Peachtree a national footprint to expand its EB-5 program. With these approvals, the firm plans to scale its EB-5 efforts, increase deal volume and seamlessly integrate EB-5 capital into its broader investment strategy. Peachtree launched its EB-5 program in 2023.

Sabre sells Hospitality Solutions. Distribution giant Sabre Corp.’s Hospitality Solutions business will be acquired by TPG, a global alternative asset management firm for $1.1 billion in cash. TPG will invest in Hospitality Solutions through TPG Capital, the firm’s U.S. and European private equity platform. The transaction will establish Hospitality Solutions as a standalone business, providing dedicated resources for growth and continued expansion. The SaaS-based platform serves as an integrated system of record for reservation and guest information. Sabre’s expected cash proceeds, net of taxes and fees, of approximately $960 million, will be used primarily to pay down debt, enabling Sabre to improve its balance sheet, optimize focus on its core business, and continue its focus on long-term sustainable growth. This announcement is the latest in a series of strategic financial moves by Sabre, including debt refinancings in December 2024 and the recent repayment of April 2025 debt maturities.

MGM Resorts cutting concierge service. MGM Resorts International is shutting down in-person concierge services at most of its Las Vegas Strip resorts, according to multiple reports. Effective Monday, desks are to close at MGM Grand, The Signature, New York-New York, Mandalay Bay, Park MGM and Vdara. There are no changes to operations at Aria Resort & Casino, Bellagio Hotel & Casino, and The Cosmopolitan of Las Vegas. Concierge calls to MGM Resorts will be routed to Aria and Bellagio.

March performance in Canada. Canada’s hotel industry reported mixed year-over-year performance in March, according to CoStar data. Occupancy was 59.4% (-2.7% YOY); ADR was CAD187.81 (+1.6% YOY); and RevPAR was CAD111.52 (-1.2% YOY). Despite a year-over-year drop in the metric, Canada’s occupancy level was its highest since November 2024. Among the provinces and territories, British Columbia recorded the highest occupancy level (66.8%), 1.4% above 2024. Among the major markets, Vancouver saw the highest occupancy (72.0%), down 1.7% from March 2024. The lowest occupancy among provinces was reported in Prince Edward Island (38.4%), up 17.9% against 2024. At the market level, the lowest occupancy was reported in Montreal (-13.9% to 55.0%).

AccorInvest becomes Essendri. AccorInvest is changing its name and becoming Essendi. This change completes the transformation initiated in 2020. The group has refocused its portfolio on the most profitable assets in Europe in the economy and mid-range segments, while optimizing the value of its hotels through dynamic asset management. The value of its portfolio was assessed at €7.8 billion through the end of 2024. This strategy, combined with a hybrid economic model, combining operational and real estate performance, enabled Essendi to achieve record results in 2024: revenue of €4.0 billion (+3.1% year-over-year vs. 2023) and EBITDA of €656 million (+6.1% YOY vs. 2023).

La Quinta debuts in the Georgian market. Wyndham Hotels & Resorts is partnering with ELT Group to introduce its La Quinta by Wyndham brand to the Georgian market, opening the beachside 98-key La Quinta by Wyndham Batumi on the Black Sea coast. There are more than 900 La Quinta by Wyndham hotels globally.

Historic UK hotel on market. The Tankerville Arms Hotel in the U.K. has been placed on the market for the first time in four decades with an asking price of £750,000 ($998,040). Christie & Co. is handling the sale of this historic guesthouse.

Prestige opening new hospitality business. Bangalore, India-based Prestige Estates is opening a new hospitality business called Prestige Hospitality Ventures. Prestige filed for a 27 billion rupees (approximately $317 million) initial public offering, according to draft papers released on Thursday. Prestige is looking to raise between 20-30 billion rupees through the public float of its hospitality business.