Playa Hotels & Resorts N.V. Announces Sale of Jewel Palm Beach for $68 Million

Playa Hotels & Resorts N.V. has entered into a binding agreement to sell the Jewel Palm Beach resort for a total of $68 million in cash. This transaction marks a significant move for the company as it continues to refine its portfolio.

The sale, subject to customary closing conditions, is expected to be finalized in the third quarter of 2024. While Playa Hotels & Resorts is optimistic about the deal, the company has cautioned that there are no guarantees the sale will be completed.

Playa Hotels & Resorts N.V. is a prominent owner, operator, and developer of all-inclusive resorts situated in prime beachfront locations across Mexico, Jamaica, and the Dominican Republic. The company's portfolio includes 25 resorts, comprising 9,127 rooms under brands such as Hyatt Zilara, Hyatt Ziva, Hilton All-Inclusive, Tapestry Collection by Hilton, Wyndham Alltra, Seadust, Kimpton, Jewel Resorts, and The Luxury Collection.

Playa leverages its extensive experience in the all-inclusive resort sector and strong relationships with globally recognized hospitality brands to deliver top-tier experiences and exceptional value to its guests. The company is also focused on building direct relationships with customers to reduce acquisition costs and encourage repeat business.