CHICAGO, Illinois—Hyatt Hotels Corporation announced the closing of the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. to Tortuga Resorts for approximately $2 billion. Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are met, and the company has retained $200 million of preferred equity in Tortuga in connection with the transaction.
The real estate portfolio originally involved 15 all-inclusive properties located across Mexico, the Dominican Republic, and Jamaica. As previously disclosed, Hyatt sold one of these properties to a separate third-party buyer on September 18, 2025, for $22 million. Between the completion of this earlier sale and the Tortuga transaction, Hyatt has sold the entire Playa real estate portfolio for a total of $2 billion. Concurrent with the real estate sale, Hyatt and Tortuga have entered into 50-year management agreements for 13 of the 14 properties in the portfolio, with terms consistent with Hyatt’s existing all-inclusive management agreements. The remaining property is subject to a separate contractual arrangement.
Sale Details
“This closing is the culmination of a transformative transaction for Hyatt’s Inclusive Collection,” said Javier Águila, president, Inclusive Collection, Hyatt. “With this transaction, we’ve