Hyatt Hotels Corporation has begun a cash tender offer to purchase all outstanding ordinary shares of Playa hotels & Resorts N.V. through an indirect wholly owned subsidiary called HI Holdings Playa B.V.?

The offer will purchase the shares for $13.50 per share in cash. The offer comes in conjunction with the acquisition agreement made on February 9 to purchase Playa Hotels & Resorts.?

Hyatt¡¯s subsidiary currently owns 9.4 percent of Playa¡¯s outstanding shares. The tender offer expires on April 25.?

The original acquisition plan came on February 10 after months of discussion and rumor. Estimated at $2.6 billion, Hyatt¡¯s acquisition of Playa would add over twenty all-inclusive resorts to its growing Inclusive Collection by Hyatt portfolio as well as its World of Hyatt loyalty program.?

¡°Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began in 2013 through an investment in Playa Hotels & Resorts that launched the Hyatt Ziva and Hyatt Zilara brands,¡± said Mark Hoplamazian, President and Chief Executive Officer, Hyatt when the acquisition announcement was made.

¡°We have respected and benefitted from Playa¡¯s operating expertise and outstanding guest experience delivery for years through their ownership and management of eight of our Hyatt Ziva and Hyatt Zilara hotels,¡± continued Hoplamazian. ¡°This pending transaction allows us to broaden our portfolio while providing more value to all of our stakeholders through an expanded management platform for all-inclusive resorts.¡±

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