M&A · Industrials · Hotels & Motels
Hyatt Hotels Corp to acquire Playa Hotels & Resorts N.V.
Announced Feb 10, 2025 · Closed Jun 16, 2025
Deal value$2.60BEV $2.50B
Premium40.0%To unaffected price
EV / Adj. EBITDA9.2x2.6x EV / Revenue
ConsiderationAll cash$13.50 per share
Transaction
- Acquirer
- Hyatt Hotels Corp (H)
- Target
- Playa Hotels & Resorts N.V. (PLYA)
- Buyer type
- Strategic
- Offer price per share
- $13.50
- Enterprise value
- $2.50B
- Status
- Closed Jun 16, 2025
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- BofA Securities, JPMorgan, Wells Fargo
- To the target
- PJT Partners
- PJT Partners fee
- $26.2M
Sector context · Industrials
- Comparable deals
- 86 in the prior 24 months
- Premium
- 40.0% vs. 35.0% sector median
- EV / Adj. EBITDA
- 9.2x vs. 9.1x sector median
- Break fee
- Sector median 2.7%
Timeline
- AnnouncedFeb 10, 2025
- Tender offerFeb 24, 2025
- ClosedJun 16, 2025
Valuation · fairness opinions
Future share price$10.25$12.25
Discounted cash flow$11.75$14.00
Leveraged buyout$9.75$12.25
Analyst price targets$8.00$12.50
Offer $13.50
Implied value per Playa Hotels & Resorts N.V. share by analysis, from PJT Partners.