Asset-Light Strategy Achieved
With the closing, Hyatt completed a fully asset-light transaction following its $2.6 billion acquisition of Playa Hotels & Resorts earlier this year. Proceeds from the sale will be used to repay a delayed-draw term loan that helped finance the Playa acquisition. Hyatt said its pro forma net leverage is expected to stay within levels needed to protect its credit profile.
Hyatt and Tortuga also entered into 50-year management agreements covering 13 of the 14 resorts, while the remaining property will operate under a separate contractual framework.
Storm Damage Delays Reopenings
Seven Hyatt properties in Jamaica — including four included in the sale — remain closed after sustaining damage from Hurricane Melissa in October 2025. Hyatt expects those resorts, including Hyatt Ziva Rose Hall, Hyatt Zilara Rose Hall, Dreams Rose Hall Resort & Spa and Jewel Grande Montego Bay Resort & Spa, to reopen in the fourth quarter of 2026.
Rebranding Reshapes the Market
Hyatt’s purchase of Playa significantly expanded its all-inclusive footprint across Mexico, the Dominican Republic and Jamaica. On June 16, it was reported that six of seven Playa-owned hotels previously unaffiliated with Hyatt were rebranded under Hyatt or Apple Leisure Group, which Hyatt acquired in 2021.
The rebranding reshuffled the competitive map: Hilton lost four flags, Wyndham lost one, while the 238-room Wyndham Alltra Playa del Carmen remains under the Wyndham banner.
