Hyatt Sells 15 Resorts for $2B, Keeps 50-Year Management Deal

Cancún, Mexico — Hyatt has sold 15 beachfront hotel properties to Tortuga Resorts—a joint venture between Denver-based investment firm KSL and Mexican family office Rodina—for $2 billion. The deal ensures Hyatt’s management of 13 of these assets for the next 50 years. The properties, previously acquired by Hyatt for $2.6 billion, include hotels that once operated under Hilton or Wyndham brands but will now transition to Hyatt’s portfolio.

Strategic Shift to Asset-Light Model

The sale marks a strategic shift for Hyatt toward an asset-light approach, continuing a partnership with KSL that began in 2015 to launch the Hyatt Ziva and Zilara brands. This follows Hyatt’s 2021 acquisition of Apple Leisure Group and its 2024 purchase of a 50% stake in Bahia Principe’s management company, Grupo Piñero, for €419 million.

Rebranding of Key Properties

Hyatt has already rebranded eight of the 15 properties, replacing Hilton-affiliated hotels in the Caribbean. The changes include:

• The 524-room Hilton Playa del Carmen, now renamed Península Hyatt Vivid Playa del Carmen.
• The 495-room Hilton Rose Hall in Montego Bay, transitioning to a Dreams resort.
• In the Dominican Republic, the former Hilton La Romana splits into a Secrets (356 rooms) and a Dreams (418 rooms).

Additionally, the 458-room Wyndham Alltra Cancún becomes a Península Sunscape, while the 88-room Jewel Grande Montego Bay retains its name.

Industry Reactions and Future Plans

The move consolidates Hyatt’s presence in key Caribbean markets, displacing competitors like Hilton and Wyndham. Further details on the remaining properties’ rebranding are expected in the coming months.

Related Developments

• Hyatt’s recent expansion includes a joint venture with Grupo Piñero and the integration of Apple Leisure Group’s portfolio.
• The sale aligns with Hyatt’s long-term strategy to focus on management contracts rather than direct ownership.

The transaction underscores Hyatt’s aggressive growth in the all-inclusive resort segment, positioning it as a dominant player in the Americas.