Hyatt and Playa hotels to build all-inclusive resorts in DR
Santo Domingo.– Hyatt Hotels Corporation announced that a wholly owned Hyatt subsidiary plans to enter the all-inclusive segment in the Dominican Republic, Mexico and Jamaica in partnership with Playa Hotels & Resorts B.V.
Hyatt expects to invest a total of US$325 million, consisting of US$100 million for an approximate 20 percent ownership stake in Playa and US$225 million for convertible preferred stock in Playa.
Playa’s hotel portfolio will include 13 resorts totaling approximately 5,800 rooms across the Dominican Republic, Mexico and Jamaica.
The first two Hyatt-branded all-inclusive resorts, located in Mexico, will be introduced later this year following multimillion-dollar renovations of existing properties. Four additional Hyatt-branded resorts in Jamaica, Mexico and the Dominican Republic are expected to be introduced in 2014 and 2015.
Category: DR News |