FAIRFAX,
Va., Feb. 3, 2025 /PRNewswire/ -- Playa Hotels
& Resorts N.V. (NASDAQ: PLYA) (the "Company" or "Playa")
previously announced it had entered into an exclusivity agreement
with Hyatt Hotels Corporation (NYSE: H) ("Hyatt") regarding
discussions between the parties of potential strategic options,
which may include the acquisition of the Company by Hyatt. Playa
today confirmed that the parties are extending the exclusivity
agreement to 11:59 p.m. New York
City time on February 10, 2025.
There can be no assurance that the Company and Hyatt will enter
into a definitive agreement for a potential transaction and there
is no assurance as to the form, terms or timing of any transaction
even if an agreement is reached between the parties. The Company
does not intend to comment further, unless and until it otherwise
deems further disclosure is appropriate or required.
PJT Partners LP is serving as financial advisor to Playa Hotels
& Resorts and Hogan Lovells is serving as legal counsel.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V., through its subsidiaries
(NASDAQ: PLYA, "Playa"), is a leading owner, operator and developer
of all-inclusive resorts in prime beachfront locations in
Mexico, Jamaica and the Dominican Republic. Playa currently owns
and/or manages a total portfolio consisting of 24 resorts (8,627
rooms) under the following brands: Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry
Collection by Hilton, Wyndham Alltra, Seadust, Kimpton, Jewel
Resorts and The Luxury Collection. Playa leverages years of
all-inclusive resort operating expertise and relationships with
globally recognized hospitality brands to provide a best-in-class
experience and exceptional value to guests, while building a direct
relationship to improve customer acquisition cost and drive repeat
business. For more information, please visit
www.playaresorts.com.
For additional information visit
investors.playaresorts.com.
Forward-Looking Statements
This press release contains "forward-looking statements," as
defined by federal securities laws, including statements regarding
the Company's discussions with Hyatt and the expiration of the
exclusivity agreement. Forward-looking statements reflect our
current expectations and projections about future events at the
time, and thus involve uncertainty and risk. The words "believe,"
"expect," "anticipate," "will," "could," "would," "should," "may,"
"plan," "estimate," "intend," "predict," "potential," "continue,"
and the negatives of these words and other similar expressions
generally identify forward looking statements. Such forward-looking
statements are subject to various risks and uncertainties,
including those described under the section entitled "Risk Factors"
in Playa's Annual Report on Form 10-K, filed with the SEC on
February 22, 2024, as such factors
may be updated from time to time in our periodic filings with the
SEC, which are accessible on the SEC's website at www.sec.gov.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. These factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included in this release and
in Playa's filings with the SEC. While forward-looking statements
reflect our good faith beliefs, they are not guarantees of future
performance. The Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, new information, data or
methods, future events or other changes after the date of this
press release, except as required by applicable law. You should not
place undue reliance on any forward-looking statements, which are
based only on information currently available to us (or to third
parties making the forward-looking statements).
For further information: Playa Hotels & Resorts N.V.,
Pedram Saif, SVP, IR & Strategy,
571-529-6014, ir@playaresorts.com
Media Contact:
Andrew Siegel / Tim Ragones / Charlotte
Burch
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
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SOURCE Playa Hotels & Resorts N.V.
