Playa Hotels & Resorts to Sell Capri Hotel for $55 Million

Playa Hotels & Resorts N.V. | April 19, 2021

FAIRFAX, Va. - April 19, 2021 - Playa Hotels & Resorts N.V. today announced that it has entered into a binding agreement with a third party to sell the Capri Hotel for a total consideration of $55 million in cash. Upon closing, the Company expects to execute a management contract and will operate the resort once it reopens after repositioning and renovation. The third party purchasing the hotel expects to simultaneously sign a franchise agreement with a globally recognized brand upon closing. The Company has also signed a hotel management agreement with the same third party for a 438-room luxury hotel in Riviera Maya, Mexico that ...