Hyatt Hotels Corporation has announced an extension of its exclusivity agreement with Playa Hotels & Resorts N.V., continuing negotiations regarding a possible acquisition of Playa by Hyatt.
According to a press release, the exclusivity period now extends through 10FEB 2025 until 11:59 p.m. ET.
Playa Hotels & Resorts confirmed the extension on Monday, reiterating that while discussions are ongoing, there is no guarantee that a definitive agreement will be reached. The company’s officials emphasized that there is “no assurance as to the form, terms, or timing of any transaction even if an agreement is reached between the parties.” Playa does not intend to provide additional comments on the matter unless further disclosure is deemed necessary or required.
The exclusivity agreement between the two hospitality giants was initially announced in December, with Playa Chairman and CEO Bruce D. Wardinski expressing optimism about the potential transaction, Reuters reported.
Playa currently operates a portfolio of luxury beachfront properties across Mexico and the Caribbean, including well-known brands such as Hyatt Ziva and Hyatt Zilara, which already have ties to Hyatt’s portfolio. A merger could further integrate these properties and expand Hyatt’s influence in the high-end resort sector.
