Latham & Watkins Advises Hyatt Hotels in Completed US$2 Billion Sale of Playa’s Owned Real Estate Portfolio

Hyatt Hotels Corporation (the Company) (NYSE: H) has announced the closing of the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. (Playa) to Tortuga Resorts (Tortuga), a premier real estate and asset management platform focused on luxury beachfront hospitality across Mexico and the Caribbean, for approximately US$2 billion. Hyatt can achieve up to an additional US$143 million earnout if certain operating thresholds are met and has retained US$200 million of preferred equity in Tortuga in connection with the transaction.

Latham & Watkins LLP represented Hyatt Hotels in the transaction with a multidisciplinary Chicago-based deal team led by counsel Emily Stegich, with support provided by partners Rachel Bates, Jonathan Solomon, Cathy Birkeland, and Michael Pucker. Other Latham lawyers included many members of the team that closed the acquisition of Playa in June 2025.