The Zhitong Finance App learned that Hyatt Hotels Group (H.US) announced that it has completed the transaction of selling its real estate asset portfolio previously acquired from Playa Hotels & Resorts N.V., to Tortuga Resorts at a price of about 2 billion US dollars. Additionally, Hyatt can earn up to $143 million in additional revenue if specific operating targets are met. As part of the deal, Hyatt retained its $200 million preferred stock interest in Tortuga. Hyatt and Tortuga have signed 50-year management agreements for 13 of the 14 hotels in the asset portfolio.

The Zhitong Finance App learned that Hyatt Hotels Group (H.US) announced that it has completed the transaction of selling its real estate asset portfolio previously acquired from Playa Hotels & Resorts N.V., to Tortuga Resorts at a price of about 2 billion US dollars. Additionally, Hyatt can earn up to $143 million in additional revenue if specific operating targets are met. As part of the deal, Hyatt retained its $200 million preferred stock interest in Tortuga. Hyatt and Tortuga have signed 50-year management agreements for 13 of the 14 hotels in the asset portfolio.