News Americas, New York, NY, January 6, 2025: A Caribbean all-inclusive resort has been sold for $28.5 million in cash.
Playa Hotels & Resorts has sold the all-inclusive Jewel Paradise Cove Resort & Spa in Jamaica. The sale comes amid ongoing negotiations with Hyatt Hotels Corporation regarding potential strategic options, including a possible acquisition of Playa by Hyatt.
The Jewel Paradise Cove Resort, located in Jamaica, was sold to an unnamed third party as part of Playa’s strategy to optimize its portfolio. The move is expected to strengthen the company’s financial position, enhance shareholder value, and allow a focus on higher-performing properties.
Hyatt Negotiations in Progress
Playa recently confirmed an exclusivity agreement with Hyatt, effective until February 3, 2025. If a merger materializes, it could exceed Playa’s current $1.2 billion market capitalization, marking a significant step for the company.
Reshaping the Portfolio
Playa’s portfolio includes 24 resorts totaling 8,627 rooms across prime markets in Jamaica, Mexico, and the Dominican Republic. Of these, eight are operated under third-party management agreements, while the rest are owned and managed by Playa.
This isn’t Playa’s first major sale recently. In August, the company sold the Jewel Palm Beach resort in Punta Cana, Dominican Republic, for approximately $68 million. These sales align with Playa’s strategy to divest select assets while focusing on more profitable ventures.
As Playa refines its portfolio and negotiates a potentially transformative deal with Hyatt, the company remains a key player in the all-inclusive resort market in the Caribbean and beyond.
