Hyatt Hotels in Exclusive Deal Talks with Playa Hotels

Dow Jones12-23 19:43

By Dean Seal

Playa Hotels & Resorts has agreed to exclusively negotiate with Hyatt Hotels about potential strategic alternatives, including a possible acquisition.

The hotel chain said Monday that Playa has signed an agreement for exclusive discussions related to its strategic options and that an acquisition of Playa is on the table.

Playa said the agreement is set to expire at 11:59 p.m. ET on Feb. 3, unless the two land on a deal before that time.

"Hyatt's interest in our company is a testament to the strength of our business and the dedication of our incredible Playa team," Playa Chief Executive Bruce Wardinski said.

Both companies said there were no assurances that a deal will come together.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 23, 2024 06:43 ET (11:43 GMT)

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