Playa Hotels Pays $300M For 5 Of Sagicor's Jamaica Resorts

By Carolina Bolado (February 27, 2018, 1:56 PM EST) -- Playa Hotels & Resorts NV agreed Monday to pay $100 million in cash plus 20 million shares to Sagicor Group Jamaica Ltd. for five all-inclusive resorts and two oceanfront developable sites on the north coast of Jamaica, in a move that makes the company one of the largest resort owners in the island nation.

The portfolio to be acquired by Playa includes the 489-room Hilton Rose Hall in Montego Bay, the 268-room Jewel Runaway Bay and 225-room Jewel Paradise Cove in Runaway Bay, and the 250-room Jewel Dunn's River in Ocho Rios. It also includes an 88-room hotel tower and spa,...

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