India, Feb. 10 -- Hyatt Hotels (H) Monday announced that it has plans to acquire Playa Hotels & Resorts for approximately $2.6 billion, including debt, in a move to expand its footprint in Mexico and the Caribbean.
The acquisition aligns with Hyatt's strategy to strengthen its presence in the high-end all-inclusive market, driven by growing international travel demand.
Playa's portfolio includes 24 luxury resorts across Mexico, Jamaica, and the Dominican Republic. Hyatt, which already holds a 9.4% stake in the company, is offering $13.50 per share-a 40.5% premium over Playa's closing price before news of the deal emerged.
Following the announcement, Playa's shares gained 2%, while Hyatt's stock remained stable. The transaction is anticip...