Hyatt raises US$1B in bonds to support Playa Hotels & Resorts acquisition

USA – Hyatt Hotels Corporation has issued US$1 billion in bonds to support its pending US$2.6 billion acquisition of Playa Hotels & Resorts NV, a leading owner of all-inclusive resorts in the Caribbean.

Hyatt has successfully priced US$500 million in both three-year and seven-year fixed-rate bonds, marking a significant step in its financial strategy.

The three-year notes offer a yield premium of 1.05 percentage points over Treasuries, while the seven-year debt carries a 1.55 percentage point spread.

The bond sale was part of a broader wave of six U.S. investment-grade transactions on March 17, as issuers moved to secure funding ahead of the Federal Reserve’s upcoming monetary policy meeting.

A key aspect of the offering is a special mandatory redemption clause, requiring Hyatt to repurchase the bonds at 101% of their principal amount plus accrued interest if its planned acquisition of Playa Hotels & Resorts is not completed by October 9 or if the purchase agreement is terminated.

However, the bond issuance itself was not contingent on the deal’s completion, giving Hyatt flexibility in its financing approach.

The announcement of the bond sale followed Hyatt’s major leadership reshuffle, reflecting the company’s continued evolution into a more brand-focused, globally agile enterprise.

To enhance its expansion in key international markets, Marc Jacheet has been appointed Group President, Europe, Africa, and the Middle East (EAME), effective March 17, 2025, with a full transition into the role by July 1, 2025.

Jacheet brings over 25 years of experience in luxury and consumer brands, having held executive roles at De Beers, Louis Vuitton, Moët & Chandon, Evian, and Tiffany & Co., where he led operations across Asia Pacific and EAME.

He will be based at Hyatt’s EAME Hub in Zurich, reporting directly to President & CEO Mark Hoplamazian.

Javier Águila, who has driven strong growth in Hyatt’s EAME region since 2022, has been appointed Chief Growth Officer, effective July 1, 2025.

This role comes in addition to his recently announced position as President, Inclusive Collection, which he assumes on March 1, 2025.

Águila will be responsible for global development strategy, transactions, and overall growth execution.

He will remain in his current EAME leadership role until June 30, 2025, supporting Jacheet’s transition before assuming full responsibility for Hyatt’s expansion efforts.

Meanwhile, Jim Chu, who has served as Chief Growth Officer since 2022, will take on a newly created role as Head of Owner Relations from July 1, 2025.

This move underscores Hyatt’s commitment to deepening ties with its key stakeholders. Chu will continue reporting to Hoplamazian in his new capacity.

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