Playa Hotels & Resorts extends exclusivity period with Hyatt

Playa Hotels & Resorts (PLYA) previously announced it had entered into an exclusivity agreement with Hyatt Hotels (H) regarding discussions between the parties of potential strategic options, which may include the acquisition of the company by Hyatt. Playa confirmed that the parties are extending the exclusivity agreement to 11:59 p.m. New York City time on February 10. There can be no assurance that the company and Hyatt will enter into a definitive agreement for a potential transaction and there is no assurance as to the form, terms or timing of any transaction even if an agreement is reached between the parties. The company does not intend to comment further, unless and until it otherwise deems further disclosure is appropriate or required.