Playa Hotels & Resorts announced that it has entered into a binding agreement with a third party to sell the Jewel Palm Beach for a total consideration of $68M in cash. The sale of the resort is subject to customary closing conditions, and the company offers no assurances that this sale will be completed. The company expects the transaction to close in the third quarter of 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLYA:
- Playa Hotels & Resorts N.V. Announces the Sale of Jewel Palm Beach
- Citi downgrades Playa Hotels to Neutral on near-term concerns
- Playa Hotels & Resorts downgraded to Neutral from Buy at Citi
- Playa Hotels & Resorts price target lowered to $13 from $14 at Deutsche Bank
- Playa Hotels & Resorts price target lowered to $10 from $12 at Oppenheimer