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Hyatt hotel chain to invest in Jamaica
6:59 am, Tue July 23, 2013
The Hyatt hotel chain is planning to enter the all-inclusive segment in partnership with Playa Hotels and Resorts which is planning to set up shop in Jamaica.
Hyatt expects to invest J$325 million, including J$100 million for a 20 percent stake in Playa and J$225 million for convertible preferred stock in the company.
Playa’s hotel portfolio will include 13 resorts totaling approximately 5,800 rooms across Jamaica, the Dominican Republic and Mexico.
In connection with the Hyatt investment, Playa will enter into franchise agreements with the hotel chain for six of the 13 resorts, or approximately 2,800 rooms, which will operate under Hyatt brands following the completion of significant renovations.
6:59 am, Tue July 23, 2013
The Hyatt hotel chain is planning to enter the all-inclusive segment in partnership with Playa Hotels and Resorts which is planning to set up shop in Jamaica.
Hyatt expects to invest J$325 million, including J$100 million for a 20 percent stake in Playa and J$225 million for convertible preferred stock in the company.
Playa’s hotel portfolio will include 13 resorts totaling approximately 5,800 rooms across Jamaica, the Dominican Republic and Mexico.
In connection with the Hyatt investment, Playa will enter into franchise agreements with the hotel chain for six of the 13 resorts, or approximately 2,800 rooms, which will operate under Hyatt brands following the completion of significant renovations.
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