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Hyatt just 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. Under the terms of the transaction, Hyatt may earn up to an additional $143 million if certain operating thresholds are met and has retained $200 million of preferred equity in Tortuga.
The portfolio originally comprised 15 all-inclusive properties across Mexico, the Dominican Republic and Jamaica. As previously disclosed, Hyatt sold one property to a separate third-party buyer on September 18th for $22 million. With the completion of the Tortuga transaction, Hyatt has now sold the entire Playa real estate portfolio for total proceeds of $2 billion.
Concurrent with the sale, Hyatt and Tortuga entered into 50-year management agreements covering 13 of the 14 properties included in the transaction. Terms are consistent with Hyatt’s existing all-inclusive management agreements. The remaining property is subject to a separate contractual arrangement. The transaction underscores Hyatt’s asset-light strategy.
Hyatt intends to use proceeds from the sale to repay the delayed draw term loan that funded a portion of the Playa acquisition. Hyatt separately provided an update on the impact of Hurricane Melissa, which caused significant damage to properties in Jamaica in October 2025. Seven Hyatt hotels in the country are expected to remain closed until late 2026. All guests and employees were safely evacuated and no loss of life occurred. Hyatt has provided financial assistance through the Hyatt Care Fund, colleague donations, and direct company support. Additional details on the estimated 2025 financial impact related to Hurricane Melissa are included in the company’s Form 8-K filed today.
Javier Águila, President, Inclusive Collection at Hyatt, said:
This closing is the culmination of a transformative transaction for Hyatt’s Inclusive Collection. With this transaction, we’ve secured long-term management agreements for a portfolio of exceptional resorts that reflect our commitment to excellence. We are deeply grateful to the teams who made this transaction possible. Throughout this process, we’ve seen strong cultural alignment grounded in care between Playa and Hyatt which has been key to achieving this milestone and will help us deliver even more memorable all-inclusive experiences for guests.”
Leo Schlesinger, CEO of Tortuga, added:
The completion of this transaction marks a defining moment, establishing Tortuga as a scaled, leading platform in luxury beachfront hospitality across Mexico and the Caribbean. We are excited to deepen our partnership with Hyatt and to work closely with our brand partners, property teams and investors to unlock new opportunities for growth. Together, we will leverage our reach and capabilities to create unforgettable experiences for the guests and communities we serve and deliver long-term value for all stakeholders.”
Anthony’s Take: Hyatt (like Marriott) runs on an asset-light business model. This sale makes sense and prepares Hyatt for the next acquisition.
(Featured Image Credit: Hyatt.)
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Advertiser & Editorial Disclosure: The Bulkhead Seat earns an affiliate commission for anyone approved through the links above This compensation may impact how and where links appear on this site. We work to provide the best publicly available offers to our readers. We frequently update them, but this site does not include all available offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.
