Hyatt Hotels will buy Playa Hotels & Resorts for about $2.6 billion including debt, the company said on Monday, seeking to boost its presence in Mexico and the Caribbean.

Hyatt Hotels announced a deal to acquire the remainder of Playa Hotels stock that it didn't already own. Learn about my views on this deal.

Hyatt already holds a 9.4% stake in Playa and offered to pay the hotel group $13.50 per share for the purchase.

Hyatt said it would acquire all-inclusive Playa Hotels & Resorts for $2.6 billion to gain Latin American resorts.

Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has entered into an agreement to acquire all outstanding shares of Playa Hotels & Re

Hyatt Hotels Corp. plans to acquire Playa Hotels & Resorts for approximately $2.6 billion, marking a significant expansion of its all-inclusive resort portfolio in the Caribbean and Mexico. The two companies had been engaged in exclusive negotiations regarding "potential strategic alternatives" since late December.

The deal expands the Chicago-based hotel operator's reach into the all-inclusive resort market in countries including Mexico and Jamaica.

Hyatt Hotels will buy Playa Hotels & Resorts for about $2.6 billion including debt, net of cash, the company said on Monday, seeking to boost its presence in Mexico and the Caribbean. The acquisition follows rising interest in upscale and luxury offerings outside the U.

The acquisition follows rising interest in upscale and luxury offerings outside the U.S. as more Americans take advantage of a stronger dollar

Hyatt Hotels Corporation H has announced an agreement stating the acquisition of Playa Hotels & Resorts N.V. PLYA in an all-cash transaction. Per the agreement, an indirect wholly owned subsidiary of Hyatt will acquire all outstanding shares of Playa Hotels for $13.