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Business Wire
9 hours ago
- Business
- Business Wire
Hyatt Strengthens Leadership in All-Inclusive Segment with Acquisition of Playa Hotels & Resorts N.V.
CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) today announced the completed acquisition of Playa Hotels & Resorts N.V. (NASDAQ: PLYA), a leading owner, operator, and developer of all-inclusive resorts in Mexico, the Dominican Republic and Jamaica. This transaction includes the acquisition of 15 all-inclusive resorts previously managed and owned by Playa. Of these, eight were already represented within Hyatt's system as Hyatt Ziva and Hyatt Zilara properties. As part of the transaction, Hyatt expands its all-inclusive portfolio with the addition of several resorts located in premier beach destinations, including Secrets La Romana and Dreams La Romana in the Dominican Republic; Dreams Rose Hall in Montego Bay, Jamaica; and Hyatt Vivid Playa del Carmen and Sunscape Cancun in Mexico. 'As we welcome Playa into the Hyatt family, we are strengthening our leadership in the all-inclusive space through a combination of new locations, capabilities, and talent,' said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. 'Playa's all-inclusive management platform complements Hyatt's global scale and brand strength, enabling us to deliver compelling experiences for guests and members while driving strong performance for owners.' Hyatt's all-inclusive growth journey began in collaboration with Playa in 2013 with the launch of the Hyatt Ziva and Hyatt Zilara brands and accelerated with the transformative acquisition of Apple Leisure Group in 2021. In 2024, Hyatt further expanded its portfolio through a strategic joint venture with Grupo Piñero for Bahia Principe Hotels & Resorts. The acquisition of Playa solidifies Hyatt's position as a leading provider of all-inclusive travel experiences. ' We're thrilled to welcome the Playa team into the Hyatt family – a move that not only strengthens our position as a global leader in all-inclusive, but also builds on our momentum in the segment,' said Javier Águila, President, Inclusive Collection, Hyatt. 'Spending time with the Playa team over the past several months has confirmed a deep cultural alignment and shared commitment to excellence. Hyatt's loyalty program, World of Hyatt, and all-inclusive distribution platform, which includes ALG Vacations and Unlimited Vacation Club, are complimented by Playa's commercial capabilities and together, we're ready to shape the future of all-inclusive travel.' 'Playa has spent nearly two decades building a reputation for delivering outstanding all-inclusive experiences,' said Bruce Wardinski, departing Chairman & CEO, Playa Hotels & Resorts. 'This acquisition is a natural evolution of our longstanding relationship with Hyatt, and we're confident these outstanding resorts will continue to flourish under its leadership.' Hyatt intends to provide additional financial information about the transaction during the second quarter 2025 earnings conference call. In connection with the transaction, BDT & MSD Partners served as lead financial advisor to Hyatt, with Berkadia serving as Hyatt's real estate advisor. Latham & Watkins LLP acted as Hyatt's legal advisor. For more information on Hyatt's Inclusive Collection portfolio, visit The term 'Hyatt' is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. For further information: About Hyatt Hotels Corporation Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2025, the Company's portfolio included more than 1,450 hotels and all-inclusive properties in 79 countries across six continents. The Company's offering includes brands in the Luxury Portfolio, including Park Hyatt ®, Alila ®, Miraval ®, Impression by Secrets, and The Unbound Collection by Hyatt ®; the Lifestyle Portfolio, including Andaz ®, Thompson Hotels ®, The Standard ®, Dream ® Hotels, The StandardX, Breathless Resorts & Spas ®, JdV by Hyatt ®, Bunkhouse ® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry ® Wellness & Spa Resorts, Hyatt Ziva ®, Hyatt Zilara ®, Secrets ® Resorts & Spas, Dreams ® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Sunscape ® Resorts & Spas, Alua Hotels & Resorts ®, and Bahia Principe Hotels & Resorts; the Classics Portfolio, including Grand Hyatt ®, Hyatt Regency ®, Destination by Hyatt ®, Hyatt Centric ®, Hyatt Vacation Club ®, and Hyatt ®; and the Essentials Portfolio, including Caption by Hyatt ®, Hyatt Place ®, Hyatt House ®, Hyatt Studios, Hyatt Select, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. Forward-Looking Statements Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the Company's acquisition of Playa Hotels & Resorts, including expected financial and operational benefits resulting from the acquisition, guest, member, and owner advantages arising from the acquisition, the Company's plans for rebranding properties acquired as part of the acquisition, integration of the acquisition, and the Company's plans, strategies, outlook, prospective or future events, and involve known and unknown risks that are difficult to predict. As a result, the Company's actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and the Company's management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; the impact of global tariff policies or regulations; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; legal proceedings that may be instituted related to the Playa acquisition; significant and unexpected costs, charges or expenses related to the Playa acquisition; risks associated with potential divestitures, including of Playa real estate or business and our ability to finalize an agreement to sell Playa's owned real estate on favorable terms or at all; ability or failure to successfully integrate the acquisition with existing operations; ability to realize anticipated synergies of the Playa acquisition or obtain the results anticipated; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as hurricanes, earthquakes, tsunamis, tornadoes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve specified levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotel services agreements or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and manage the Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the SEC, including our annual reports on Form 10-K and quarterly reports on Form 10-Q, which filings are available from the SEC. All forward-looking statements attributable to the Company or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. HHC-FIN
Forbes
05-06-2025
- Business
- Forbes
Inside Look: Hyatt Ziva Los Cabos Review
The family-friendly Hyatt Ziva Los Cabos has long been one of Los Cabos' all-inclusive crown jewels thanks to the many activities, expansive ocean views and attentive service it offers. With few improvements since opening its doors in 2015, however, the property was due for a refresh; this spring, the resort completed a $50 million renovation that coincides with its 10-year anniversary. The renovation project—which includes 248 refreshed rooms in Tower B, an upgraded lobby bar, an enhanced fitness center, revamped kids and teens clubs, a new Indian dining outlet and rebrands of two of its most popular restaurants—is welcome news for fans of the hotel, which I named one of the best all-inclusive resorts in Los Cabos. I checked in to experience it myself and was impressed by the new look. Here's my full review. Aerial shot of Hyatt Ziva Los Cabos in San José del Cabo, Mexico. The first thing guests notice when walking into Hyatt Ziva Los Cabos is its new open-air lobby. Completely redone, guests are now greeted by soaring ceilings and pops of golds and creams, with the luxurious Lobby Bar 23°N— featuring a propeller centerpiece and vintage navigation tools—being the most eye-catching element of the space. Given all-inclusive resorts' reputation for stale design, the reimagining immediately elevates incoming guests' first impression of the hotel. Those staying in a Club Level are taken to a newly designed and private VIP area to check in right off the main lobby. Lobby Bar 23°N at Hyatt Ziva Los Cabos. As part of the recent renovations, the property's kids and teens clubs were completely redone, and the kids waterpark was refreshed; its spacious fitness center, which was quite busy during my stay, also has a fresh look and new equipment. I spent most of my time at the pool area: The hotel features four pools, including a main pool, a kids pool, an adults-only pool and an infinity pool right near the beach. The infinity pool was the most popular of them all, with music and entertainment (think: Hula-Hooping contests and music trivia) on tap all day long. Hyatt Ziva Los Cabos offers 591 rooms in a variety of different categories, but only 248 of these rooms have been renovated as part of the hotel's recent transformation: If you're booking this hotel, you'll want to make sure that you're booked into Tower B, where the renovations are complete. (Renovations to Tower C are also expected, but no firm dates are in place.) I stayed in a Deluxe Ocean View Double, a 611-square-foot space that featured two double beds, a walk-in shower and a private terrace overlooking the infinity pool, with views of the coast and mountain range. Deluxe Ocean View Double Room at Hyatt Ziva Los Cabos. I was impressed by the transformation; in comparison to the non-renovated rooms in Tower C, which feature darker woods and smoky tones of chocolate and eggplant, my room felt fresh and modern, with bright pops of orange and cerulean blue. The hanging blue and wicker lamps were a nice touch that seemed aligned with many of the hotel's newly designed spaces, and the room's artwork—including a painting that evokes waves and a sculpture of a whale's tail—gave it an established sense of place. As expected, my room's minibar was stocked with water, juices, beer and wine, and service was friendly, prompt and unobtrusive. There are 16 restaurants, bars and lounges at Hyatt Ziva Los Cabos, and several of them are new: Casa Cortez, once just known as Cortez, has been overhauled with a new, boho-chic look and revamped menu. Serving seafood-forward Mexican cuisine, the excellent ceviches, fish tacos, shrimp burrito and margaritas I had here made it hands down my favorite dining outlet at the hotel. The hotel also revamped its Mediterranean restaurant Zaffiro, now called Farina e Olio, though it was not yet fully open during my visit, and opened a new Indian dining outlet named Mahika, which guests enter through an immersive ticket booth. Casa Cortez at Hyatt Ziva Los Cabos During my stay, I enjoyed daily breakfasts at El Molino, which serves up Mexican favorites and a global buffet breakfast. I'm not the biggest fan of buffet-style dining, but I was impressed by the quality and variety here—the chilaquiles were particularly great—and looked forward to returning each day. I was also pleased by the strong coffee at the on-site Coffee House (with just about every milk substitute available), the delicious poke bowls at the juice bar by the main pool and the fact that I was able to order a perfectly made dirty Grey Goose martini (no extra charge) at Lobby Bar 23°N. As someone who has been to many all-inclusive resorts, Hyatt Ziva Los Cabos certainly punches above its weight when it comes to food and drinks. One of my favorite midday snacks were the tacos served at the bar near the adults-only pool. If you're staying at the resort, look for the small kitchen door at the end of the bar, where you can place your order. The tacos are truly authentic; it feels almost unbelievable that these can be found at an all-inclusive resort. Hyatt Ziva Los Cabos is located about a 20-minute drive from the San José del Cabo International Airport (SJD).
Yahoo
10-02-2025
- Business
- Yahoo
Hyatt Announces Plans to Acquire Playa Hotels & Resorts N.V., Enhancing Hyatt's All-Inclusive Platform
CHICAGO, February 10, 2025--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has entered into an agreement to acquire all outstanding shares of Playa Hotels & Resorts N.V. (NASDAQ: PLYA, Playa) for $13.50 per share, or approximately $2.6 billion, including approximately $900 million of debt, net of cash. Playa is a leading owner and operator of all-inclusive resorts in Mexico, the Dominican Republic and Jamaica and Hyatt is currently the beneficial owner of 9.4% of Playa's outstanding shares. "Hyatt has firmly established itself as a leader in the all-inclusive space, a journey that began in 2013 through an investment in Playa Hotels & Resorts that launched the Hyatt Ziva and Hyatt Zilara brands," said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. "We have respected and benefitted from Playa's operating expertise and outstanding guest experience delivery for years through their ownership and management of eight of our Hyatt Ziva and Hyatt Zilara hotels. This pending transaction allows us to broaden our portfolio while providing more value to all of our stakeholders through an expanded management platform for all-inclusive resorts." Playa's portfolio includes high-quality resorts in iconic locations and strategically important markets. The pending acquisition provides an opportunity to secure long-term management agreements for Hyatt's luxury all-inclusive Hyatt Ziva and Hyatt Zilara branded properties. It also will expand Hyatt's distribution channels, including ALG Vacations and Unlimited Vacation Club, to Playa's portfolio, offering additional benefits to guests of Playa hotels. Hyatt is well-positioned to drive value creation through complementary business segments and further optimize its existing all-inclusive infrastructure in Mexico and the Caribbean. This pending acquisition marks the next step on a significant growth journey for Hyatt's all-inclusive portfolio, including the acquisition of Apple Leisure Group in 2021, and the 2024 completion of a 50/50 strategic joint venture with Grupo Piñero, which added the Bahia Principe Hotels & Resorts portfolio to Hyatt's Inclusive Collection, which currently spans approximately 55,000 rooms across Latin America, the Caribbean and Europe. Hyatt remains committed to its asset-light business model and intends to identify third-party buyers for Playa's owned properties. Following the close of the transaction, Hyatt anticipates realizing at least $2.0 billion of proceeds from asset sales by the end of 2027 and expects asset-light earnings to exceed 90% on a pro forma basis in 2027. At closing, Hyatt expects to fund 100% of the acquisition with new debt financing and, consistent with maintaining its investment grade profile, expects to pay down over 80% of the new debt financing with proceeds from asset sales. The acquisition is anticipated to close later this year, subject to Playa shareholder and regulatory approval as well as other customary closing conditions. In connection with the transaction, BDT & MSD Partners is acting as lead financial advisor to Hyatt with Berkadia serving as Hyatt's real estate advisor. BofA Securities, J.P. Morgan, and Wells Fargo are also acting as financial advisors to Hyatt and have also provided fully committed bridge financing in relation to the transaction. Latham & Watkins LLP is Hyatt's legal advisor. For more information or to book a stay, please visit The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. For further information: About Hyatt Hotels Corporation Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 79 countries across six continents. The Company's offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Sunscape® Resorts & Spas, and Alua Hotels & Resorts®; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit Additional Information and Where to Find It The tender offer for the ordinary shares of Playa Hotels & Resorts N.V. ("Playa") referenced in this press release has not yet commenced. This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell ordinary shares of Playa or any other securities, nor is it a substitute for the tender offer materials that Buyer will file with the SEC upon the commencement of the tender offer. At the time the tender offer is commenced, Buyer will file with the SEC a tender offer statement on Schedule TO (the "Tender Offer Statement"), and thereafter Playa will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 (the "Solicitation/Recommendation Statement") with respect to the tender offer. Playa also intends to file with the SEC a proxy statement in connection with an extraordinary general meeting of shareholders of Playa, at which the Playa shareholders will vote on certain proposed resolutions (the "EGM Proposals") in connection with the transactions referenced herein, and will mail the definitive proxy statement and a proxy card to each Playa shareholder entitled to vote at the extraordinary general meeting. THE TENDER OFFER STATEMENT (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND THE PROXY STATEMENT WILL CONTAIN IMPORTANT INFORMATION. PLAYA'S SHAREHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE (AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF PLAYA'S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION WITH RESPECT TO THE TENDER OFFER. The Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents), as well as the Solicitation/Recommendation Statement, will be made available to all holders of Playa's ordinary shares at no expense to them. The Tender Offer Statement and the Solicitation/Recommendation Statement will be made available for free at the SEC's website at Copies of the documents filed by the Buyer with the SEC will also be available free of charge on Hyatt's Investor Relations site at or by contacting Hyatt's investor relations department at investorrelations@ Copies of the documents filed by Playa with the SEC will also be available free of charge on Playa's website at or by contacting Playa's investor relations department at ir@ In addition, Playa shareholders may obtain free copies of the tender offer materials by contacting the information agent for the tender offer that will be named in the Tender Offer Statement. Participants in the Solicitation Playa, its directors and executive officers and other members of its management and employees, as well as Hyatt and its directors and executive officers, may be deemed to be participants in the solicitation of proxies from Playa's shareholders in connection with the EGM Proposals. Information about Playa's directors and executive officers and their ownership of Playa's ordinary shares is set forth in the proxy statement for Playa's 2024 annual general meeting of shareholders, which was filed with the SEC on April 22, 2024. Information about Hyatt's directors and executive officers is set forth in the proxy statement for Hyatt's 2024 annual meeting of shareholders, which was filed with the SEC on April 4, 2024. Shareholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the EGM Proposals, including the interests of Playa's directors and executive officers in the transaction, which may be different than those of Playa's shareholders generally, by reading the proxy statement and other relevant documents regarding the transaction which will be filed with the SEC. Forward-Looking Statements This press release contains certain "forward-looking statements," which statements are not historical facts, relating to Hyatt, Playa and the proposed acquisition. These statements include, but are not limited to: statements about the proposed acquisition and the expected timeline for completing the acquisition; approvals of the acquisition; ability to consummate and finance the acquisition; method of financing the acquisition; integration of the acquisition; future operations or benefits; future capital allocation; future business and financial performance; future leverage ratios; and outcomes of the proposed acquisition, including synergies, cost savings and impact on earnings, cash flow growth, return on capital, shareholder returns and strength of balance sheets; the development and divestiture pipeline related to the acquisition, strategies, outlook, prospects or future events, and involve known and unknown risks that are difficult to predict. Words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions, are intended to identify such forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions, which are inherently uncertain, available to us as of the date the statements are made. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements due to various known and unknown risks and uncertainties. Factors that may cause actual results, performance or achievements to differ materially from current expectations include, but are not limited to: the effects that the announcement or pendency of the proposed acquisition may have on us, Playa and our respective business and ability to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom we or they do business; inability to obtain required regulatory or government approvals or to obtain such approvals on satisfactory conditions; inability to obtain sufficient stockholder tender of Playa ordinary shares, stockholder approval or to satisfy other closing conditions; inability to obtain financing; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement; the effects that any termination of the definitive agreement may have on us or our business; failure to successfully complete the proposed acquisition; legal proceedings that may be instituted related to the proposed acquisition; significant and unexpected costs, charges or expenses related to the proposed acquisition; risks associated with potential divestitures, including of Playa real estate or business; ability or failure to successfully integrate the acquisition with existing operations; ability to realize anticipated synergies or obtain the results anticipated; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the financial condition of, and our and Playa's relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; our ability to successfully execute our strategy to expand our management and hotels services and franchising business while at the same time reducing Playa's real estate asset base within targeted timeframes and at expected values; our and Playa's ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of real estate assets; unforeseen terminations of management and hotels services or franchise agreements; risks associated with changing, or the introduction of new, brand concepts, including lack of acceptance of different or new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we and Playa operate; violations of regulations or laws related to our or Playa's franchising businesses, licensing businesses or international operations; and other risks discussed in our filings with the SEC, including our most recently filed annual report on Form 10-K and subsequent quarterly reports filed on Form 10-Q, which filings are incorporated herein by reference and available from the SEC's website at and in other documents that we may file with or furnish to the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements or otherwise, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. HHC-FIN View source version on Contacts MEDIA CONTACTS: Hyatt Franziska INVESTOR CONTACTS: Hyatt Adam Ryan
