Hyatt Completes $2 Billion Sale of Playa’s Owned Real Estate Portfolio to Tortuga

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, a premier real estate and asset management platform focused on luxury beachfront hospitality across Mexico and the Caribbean, for approximately $2 billion.

Transaction Overview
- Hyatt Hotels Corporation finalized the sale of its Playa Hotels & Resorts real estate portfolio to Tortuga Resorts for $2 billion.
- Hyatt retains $200 million in preferred equity and may earn up to $143 million more if performance thresholds are met.
- The portfolio originally included 15 all-inclusive properties across Mexico, the Dominican Republic, and Jamaica. One property was sold earlier in September 2025 for $22 million.

Management Agreements
- Hyatt signed 50-year management contracts for 13 of the 14 properties with Tortuga, ensuring long-term operational control.
- The remaining property is under a separate arrangement.

Strategic Impact
- This move strengthens Hyatt’s asset-light business model, reducing real estate ownership while maintaining brand presence.
- Proceeds will repay debt from the Playa acquisition, keeping Hyatt’s leverage within investment-grade thresholds.

Tortuga Resorts
- Tortuga, backed by KSL Capital Partners and Rodina, is positioning itself as a leading luxury beachfront hospitality platform in Mexico and the Caribbean.
- CEO Leo Schlesinger emphasized growth opportunities and cultural alignment with Hyatt.

Hurricane Melissa Impact
- Seven Hyatt properties in Jamaica remain closed until Q4 2026 due to damage from Hurricane Melissa (October 2025).
- No loss of life occurred; Hyatt provided financial aid to affected colleagues via the Hyatt Care Fund.

Advisors
- Hyatt: BDT & MSD Partners (financial), Berkadia (real estate), Latham & Watkins LLP (legal).
- Tortuga: Goldman Sachs & Co. LLC (financial), Simpson Thacher & Bartlett LLP (legal).

👉 This sale marks a transformative milestone for Hyatt’s Inclusive Collection, ensuring long-term management while freeing capital for growth.