Tue Jan 07 14:40:00 UTC 2025: ## Playa Hotels & Resorts Sells Jamaican Jewel for $28.5 Million Amidst Potential Hyatt Merger Talks

**RUNAWAY BAY, Jamaica** – Playa Hotels & Resorts, a Virginia-based hospitality company, has announced the sale of its Jewel Paradise Cove Resort & Spa in Runaway Bay, Jamaica, for $28.5 million. The buyer remains undisclosed. This sale comes as Playa is currently engaged in exclusive negotiations with Hyatt Hotels Corp. These negotiations, which run until February 3, 2025, explore several strategic options, including a potential acquisition of Playa by Hyatt, a deal that could surpass Playa’s current $1.2 billion market capitalization.

Playa Hotels & Resorts owns and/or manages a portfolio of approximately 24 resorts totaling 8,627 rooms, primarily located in popular tourist destinations such as Jamaica, Mexico, and the Dominican Republic. The company operates through a mix of owned and managed properties, as well as third-party management agreements.

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