Hyatt Completes $2.0 Billion Sale of Playa’s Owned Real Estate Portfolio to Tortuga
Hyatt Hotels Corporation (the “Company”) (NYSE: H) today announced the closing of the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. (“Playa”) to Tortuga Resorts (“Tortuga”), a premier real estate and asset management platform focused on luxury beachfront hospitality across Mexico and the Caribbean, for approximately $2 billion. Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are met and has retained $200 million of preferred equity in Tortuga in connection with the transaction. source If you have any questions, queries or would like to advertise with DMCFinder please email us on info@dmcfinder.co.uk
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Hyatt Completes $2.0 Billion Sale of Playa’s Owned Real Estate Portfolio to Tortuga
Hyatt Completes $2.0 Billion Sale of Playa’s Owned Real Estate Portfolio to Tortuga
Hyatt Hotels Corporation (the “Company”) (NYSE: H) today announced the closing of the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. (“Playa”) to Tortuga Resorts (“Tortuga”), a premier real estate and asset management platform focused on luxury beachfront hospitality across Mexico and the Caribbean, for approximately $2 billion. Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are met and has retained $200 million of preferred equity in Tortuga in connection with the transaction.
source
If you have any questions, queries or would like to advertise with DMCFinder please email us on info@dmcfinder.co.uk
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