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  "documentTitle": "2025 06 Playa Acquisition",
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      "text": "The Company's outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that the Company will achieve these results.",
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      "text": "HYATT ZILARA ROSE HALL",
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      "text": "Net purchase price: $555 million",
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      "text": "Hyatt is retaining $200 million of preferred equity in connection with the Playa Real Estate Transaction.",
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      "text": "Net purchase price for Playa's asset-light management business is approximately $555 million, net of gross proceeds from asset sales. Hyatt expects to earn $60 - $65 million of Adjusted EBITDA in 2027 in relation to the acquired Playa assets, inclusive of earnings from Unlimited Vacation Club and ALG Vacations, representing an implied multiple of 8.5x - 9.5x. The implied multiple would be further improved if the earnout conditions are met.",
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      "text": "Hyatt can achieve an additional $143 million earnout if certain operating thresholds are met. The Playa Real Estate Transaction is expected to close before the end of 2025 and is subject to regulatory approval in Mexico and other customary closing conditions.",
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      "text": "On June 29, 2025, Hyatt entered into a definitive agreement to sell the entirety of Playa's owned real estate portfolio, acquired from Playa on June 17, 2025, for $2.0 billion to Tortuga Resorts (\"Tortuga\"), a joint venture between an affiliate of KSL Capital Partners, LLC and Rodina.",
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      "text": "On June 17, 2025, Hyatt completed the acquisition of Playa Hotels & Resorts for $13.50 per share, or approximately $2.6 billion, including approximately $900 million of debt, net of cash.",
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      "text": "PLAYA HOTELS ACQUISITION UPDATE",
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