CHICAGO, Illinois—Hyatt Resorts Company immediately disclosed it has executed an exclusivity settlement with Playa Resorts & Resorts N.V. (“Playa”) (NASDAQ: PLYA) underneath which Playa has agreed to barter completely with Hyatt concerning potential strategic alternate options, which can embody the acquisition of Playa by Hyatt.
Mark S. Hoplamazian, President and Chief Govt Officer of Hyatt, stated, “Playa has been a priceless accomplice for a few years, is among the world’s strongest operators of all-inclusive resorts, and owns a premier portfolio of high-quality, high-end all-inclusive resorts in iconic areas and key markets throughout the Caribbean and Mexico. Strategic alternate options into consideration may have compelling strategic advantage so as to add new incremental sturdy price streams for Hyatt. We stay steadfastly dedicated to our asset-light enterprise mannequin and if this course of continues, we’ll proceed to map out a transparent path for an asset-light final result for any strategic alternate options we undertake.”
There could be no assurances that any transaction will consequence from Hyatt’s unique discussions with Playa, or on what phrases. Hyatt doesn’t intend to remark additional on these discussions except and till a definitive settlement has been absolutely executed.
As required by federal securities legal guidelines, Hyatt, which is the helpful proprietor of 9.99% of Playa’s excellent shares, has filed an modification to its Schedule 13D with the U.S. Securities and Alternate Fee to reveal these discussions.
