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-0.000180342651036977 0.00103697024346266 0.000571085061617066 -0.000541027953110931 0.00420799519086274 0.00568079350766469 0.00763450556056514 0.00763450556056514
Stock impact report

Hyatt completes $2B sale of Playa Hotels & Resorts real estate [Yahoo! Finance]

Hyatt Hotels Corporation Class A (H) 
Last hyatt hotels corporation class a earnings: 2/19 04:30 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Hyatt Hotels has completed the $2 billion sale of the Playa Hotels & Resorts real estate portfolio, according to a company release. Hyatt acquired the real estate portfolio — comprising 15 all-inclusive properties across Mexico, the Dominican Republic and Jamaica — last year as part of its $2.6 billion acquisition of the Playa Hotels & Resorts brand . Hyatt sold one of the Playa resorts to a separate third-party buyer for $22 million in September and has now completed the sale of the remaining 14 properties to Tortuga Resorts in a deal first announced in June In line with the real estate sale, Hyatt and Tortuga have entered into 50-year management agreements for 13 of the 14 properties in the portfolio, with terms consistent with Hyatt's existing all-inclusive management agreements, per the release. The real estate sale “demonstrates Hyatt's commitment to its asset-light business model,” according to the company, which has been focused on this strategy for the last several year Show less Read more
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