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Hilton and Playa Hotels and Resorts to debut new resort

A deal was recently reached between Hilton and Playa Hotels & Resorts to form two new resorts, Hilton La Romana and Hilton Playa del Carmen, both of which will be all-inclusive resorts. The new properties will debut later in 2018. The agreement also allows for the potential for the conversion and management of 8 additional resorts by 2025.

Hilton and Playa Hotels and Resorts to debut new resort

By the end of this year, Hilton and Playa Hotels & Resorts will introduce Hilton La Romana, an all-inclusive resort, and Hilton Playa del Carmen, an all-inclusive resort. The new hotels will add 1,269 Hilton guest rooms to its existing global portfolio as part of a new strategic alliance between two hotel companies.

As part of the transaction, Playa will assume management of the resort currently known as Dreams La Romana. The property will be rebranded as the Hilton La Romana, an All-inclusive Resort by year-end. Additionally, The Royal Playa del Carmen will become Hilton Playa del Carmen, an All-inclusive Resort.

Playa Hotels & Resorts has been the owner of Dreams La Romana while it was managed by AMResorts Collection. Playa will become both owner and operator in November. The agreement reached between the two chains also includes the potential for the conversion and management of 8 additional resorts by 2025.

Hilton President and CEO Christopher J. Nassetta says Hilton’s “ambitious expansion journey with Playa” dovetails with the hotel chain’s plan to expand its all-inclusive portfolio and commitment to resort growth in the Caribbean and Latin America.

Bruce Wardinski, Playa Chairman and CEO, also explained:

“Our strategic alliance with Hilton is a win-win for both companies. This alliance will empower us to reach more guests, on more occasions, and in more geographies, than ever before. We view this as just a first step toward what is possible as part of this strategic alliance, and Playa is thrilled to continue to grow along-side Hilton and our other world-class partners.”

A press release from Playa notes that while there will be some initial disruption, strategic alliances with world class partners such as Hilton “can be transformative for Playa” in the long-run and:

“As a result of rebranding and renovations, as well as competitive discounting among our peers in Playa del Carmen and Cancun, at the midpoint, we currently expect our 2018 and 2019 EBITDA outlooks to decrease by $4.5 million and $26.0 million, respectively.”

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