Hyatt Hotels and Playa Hotels & Resorts have disclosed that the ongoing negotiations between the parties concerning various strategic alternatives, including the potential acquisition of Playa by Hyatt, are set to continue under an extended period of exclusivity.

The discussions will now have the exclusive agreement in place until 10 February.

The agreement between the two parties was initially disclosed in December 2024.

In a statement, Playa said: “There can be no assurance that the company and Hyatt will enter into a definitive agreement for a potential transaction and there is no assurance as to the form, terms or timing of any transaction even if an agreement is reached between the parties. The company does not intend to comment further, unless and until it otherwise deems further disclosure is appropriate or required.”

Hyatt, which owns 9.99% of Playa's outstanding shares, has complied with federal securities laws by amending its Schedule 13D filing with the US Securities and Exchange Commission.

This amendment is to disclose the ongoing discussions with Playa.

Advised by PJT Partners and legal counsel Hogan Lovells, Playa Hotels & Resorts operates 24 resorts across Mexico, Jamaica, and the Dominican Republic.

These resorts are affiliated with various brands such as Hyatt Zilara, Hyatt Ziva, and Hilton All-Inclusive.

Based in Chicago, Hyatt's collection encompassed more than 1,350 hospitality and comprehensive resort venues, spread across 79 nations on six continents as of the end of September 2024.

Hyatt Hotels has expanded its luxury travel offerings by entering a strategic long-term licensing agreement with The Venetian Resort Las Vegas in December 2025. This partnership integrates the resort into the World of Hyatt loyalty programme, enhancing guest experiences on the Las Vegas Strip.