Playa Hotels & Resorts has entered an agreement with Sagicor Group Jamaica Limited giving Playa a portfolio of five all-inclusive resorts and two oceanfront sites for development on Jamaica’s north coast.
The portfolio includes four existing resorts, including the 489-room Hilton Rose Hall, the 268-room Jewel Runaway Bay, the 250-room Jewel Dunn’s River and the 225-room Jewel Paradise Cove. It also includes an 88-room hotel tower and spa at the Jewel Grande Montego Bay Resort & Spa, two developable land sites with a potential density of up to 700 rooms, and a hotel management contract for the Jewel Grande Palmyra.
“Playa’s development track record, management expertise, strong regional presence and deep customer relationships will contribute significantly to improving the Sagicor portfolio performance,” said Bruce Wardinski, Chairman and CEO of Playa Hotels & Resorts. “Most importantly, this transaction provides Playa with multi-year built-in growth opportunities, which we expect will drive outstanding financial returns.”
As a result of the agreement, Playa will become one of the largest resort owners and operators in Jamaica – both the total number of rooms and number of brands under management. The company also owns and operates resorts under the Hyatt Ziva & Hyatt Zilara brands, The Royal and most recently, Panama Jack Resorts. Playa also took over the management of Sanctuary Cap Cana in late 2017 and also owns additional properties being managed by a third party.
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years, Bruce uses the pre-dawn hours to prepare a daily news and information package to keep industry members up to date.