CHICAGO, Illinois—Hyatt Motels Company at the moment disclosed it has executed an exclusivity settlement with Playa Motels & Resorts N.V. (“Playa”) (NASDAQ: PLYA) below which Playa has agreed to barter solely with Hyatt relating to potential strategic options, which can embrace the acquisition of Playa by Hyatt.
Mark S. Hoplamazian, president and chief government officer of Hyatt, stated, “Playa has been a invaluable companion for a few years, is without doubt one of the world’s strongest operators of all-inclusive resorts, and owns a premier portfolio of high-quality, high-end all-inclusive resorts in iconic areas and key markets throughout the Caribbean and Mexico. Strategic options into consideration might have compelling strategic advantage so as to add new incremental sturdy price streams for Hyatt. We stay steadfastly dedicated to our asset-light enterprise mannequin and if this course of continues, we are going to proceed to map out a transparent path for an asset-light final result for any strategic options we undertake.”
There will be no assurances that any transaction will consequence from Hyatt’s unique discussions with Playa, or on what phrases. Hyatt doesn’t intend to remark additional on these discussions except and till a definitive settlement has been absolutely executed.
As required by federal securities legal guidelines, Hyatt, which is the useful proprietor of 9.99 p.c of Playa’s excellent shares, has filed an modification to its Schedule 13D with the U.S. Securities and Alternate Fee to reveal these discussions.
