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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.",
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      "text": "ATTRACTIVE VALUATION: Net purchase price of approximately $555 million for Playa's management business. Implied multiple of 9-10x 2026 Adjusted EBITDA and 8.5x - 9.5x stabilized 2027 Adjusted EBITDA. Represents an attractive valuation and is accretive to Hyatt in the first full year.",
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      "text": "EXPANDS HYATT'S ALL-INCLUSIVE PLATFORM: Hyatt's Inclusive Collection grows by approximately 2,200 rooms, adding high-quality resorts in iconic locations and strategically important markets. Entire portfolio will benefit from Hyatt's all-inclusive platform: ALG Vacations and Unlimited Vacation Club.",
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      "text": "STRENGTHENS HYATT'S ASSET-LIGHT EARNINGS: Following the Playa Real Estate Transaction, 13 properties will convert to long-term management agreements. Expected to lead to asset-light earnings mix in 2027 of at least 90%.",
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      "text": "RETAINS INVESTMENT GRADE PROFILE: Expects to use proceeds from asset sales to repay the delayed draw term loan used to fund a portion of the Playa acquisition and expects pro forma net leverage to be consistent with thresholds necessary to maintain its investment-grade credit profile.",
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