Hyatt to sell Playa's owned real estate portfolio to Tortuga for $2B
Written by Emily J. Thompson, Senior Investment Analyst
Hyatt's Real Estate Sale: Hyatt Hotels has agreed to sell its entire real estate portfolio from Playa for $2 billion to Tortuga Resorts, with potential additional earnings of up to $143 million based on performance. The deal includes management agreements for 13 properties and is expected to close by the end of 2025, pending regulatory approval.
Financial Implications: After the sale, Hyatt's net investment in Playa's management business will be approximately $555 million, with projected stabilized Adjusted EBITDA of $60M-$65M by 2027, while proceeds from the sale will be used to repay existing loans to maintain an investment-grade credit profile.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
