Playa Hotels & Resorts N.V. has announced that it has entered into an exclusivity agreement with Hyatt Hotels Corporation. Under this agreement, Playa will engage in exclusive negotiations with Hyatt concerning various strategic options, which may include the possibility of Hyatt acquiring the Company. This exclusivity agreement will remain effective until either a definitive agreement for the transaction is executed or until 11:59 p.m. New York City time on February 3, 2025.
The Board of Directors of Playa has been assessing opportunities to optimize value for its shareholders and has been in discussions with several potential partners. In line with its fiduciary responsibilities, the Board is dedicated to enhancing shareholder value and consistently evaluates the Company’s prospects to serve the best interests of all Playa shareholders.
There is no guarantee that the Company and Hyatt will finalize a definitive agreement regarding a potential transaction, nor can any assurances be made concerning the structure, terms, or timing of such a transaction, even if an agreement is established between the parties. The Company does not plan to provide additional comments unless it determines that further disclosure is necessary or warranted.