Hyatt Hotels Corporation completes $2.0 billion sale of Playa real estate portfolio to Tortuga

Hyatt Hotels Corp

Hyatt closed the sale of Playa's 15-property portfolio to Tortuga for $2.0 billion, with up to $143 million earnout and $200 million preferred equity retained.
Concurrent with the sale, Hyatt entered into 50-year management agreements for 13 of 14 properties, consistent with its all-inclusive model.
Hurricane Melissa in October 2025 reduced full-year 2025 Adjusted EBITDA outlook for Playa by $10 million at mid-point.
Hyatt expects 2025 Adjusted EBITDA excluding Playa at low end of $1,090-$1,110 million range due to Jamaica cancellations.
The sale proceeds will be used to repay the delayed draw term loan from the Playa acquisition, maintaining investment-grade credit.

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