Playa Hotels Stock Pops on Acquisition Negotiations With Hyatt | Global News Avenue

Playa Hotel (Playa) On Monday, the resort operator said it had reached an agreement to explore a potential acquisition of Hyatt Hotels (H).

The two sides will discuss “strategic options”, including potential getPraia said on Monday the agreement would last until a deal is reached, or until February 3.

Hyatt CEO Mark Hoplamazian on Monday called Playa a “valuable partner for many years” and said a potential deal could have “compelling strategic advantages and add value to Hyatt’s portfolio.” New Incremental Persistent Fee Stream”.

Playa Hotels operates resorts in Mexico, Jamaica, Dominican Republic

Playa operates 20 resorts with more than 8,600 rooms in Mexico, Jamaica and the Dominican Republic under brands including Hyatt, Hilton (Hanlant) and Wyndham (WH). Hyatt operates more than 1,300 hotels in 79 countries.

in its latest Earnings Conference Call Last month, Playa CEO Bruce Wardinski reiterated Playa’s belief that there is a “huge opportunity” merge in the all-inclusive resort industry. Discussing Hyatt’s deal with another resort company, Wodinsky said Hyatt was “very smart strategically” and said the deal likely won’t have much of an impact on Playa’s business.

Hyatt Hotels shares fell nearly 2% on Monday. Playa shares are up about 28%, and are up more than 40% this year.