Among
the noteworthy deals of the past two weeks was Playa Hotels & Resorts’ sale
of the Jewel Paradise Cover in Runaway Bay, Jamaica, for $28.5 million.
RUNAWAY BAY,
Jamaica — Fairfax, Virginia-based Playa Hotels & Resorts has entered into a
binding agreement with an unnamed third party to sell the all-inclusive Jewel
Paradise Cove Resort & Spa in Jamaica for $28.5 million in cash.
Just over a
week ago, Playa confirmed that it executed an exclusivity agreement with Hyatt
Hotels Corp. to negotiate strategic options, which may include the acquisition
of the company by Hyatt. The exclusivity agreement will remain in place until
February 3, 2025. A merger with Hyatt reportedly would top the $1.2 billion
market capitalization of Playa Hotels. Click here
for more on this deal.
Playa
currently owns and/or manages some 24 resorts with 8,627 rooms with strength in
resort markets such as Jamaica, Mexico and the Dominican Republic. Eight are
third-party management agreements, while the other resorts are owned and
managed by Playa.
To download
our list of deals from the past week in Excel format, click here.