Hyatt Hotels Corporation (H) announced a definitive agreement to sell the entirety of Playa’s owned real estate portfolio.
The portfolio was acquired from Playa for $2.0 billion.
The buyer is Tortuga Resorts, a joint venture between an affiliate of KSL Capital Partners, LLC and Rodina.
Upon completion of the real estate sale, Hyatt Hotels Corporation (H) will use the proceeds to repay the delayed draw term loan used to fund part of the Playa acquisition.
The company expects pro forma net leverage to align with thresholds required to maintain its investment-grade credit profile.
The real estate transaction involving Hyatt Hotels Corporation (H) is expected to close before the end of 2025.
