Hyatt Hotels will buy Playa Hotels & Resorts for about $2.6 billion, including debt, the company said today, seeking to boost its presence in Mexico and the Caribbean.
Interest in upscale and luxury offerings outside the U.S. is climbing as more Americans look to travel overseas to take advantage of a stronger dollar.
Playa operates 24 high-end, all-inclusive resorts across Mexico, Jamaica and the Dominican Republic.
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