Dec. 31 at 8:16 PM
Hyatt said damage from Hurricane Melissa will keep seven properties in Jamaica closed until late 2026, negatively affecting its financial outlook. The disclosure came alongside the completion of Hyatt’s
$2 billion sale of Playa’s real estate portfolio to Tortuga Resorts, underscoring its asset-light strategy, though investors focused on the hurricane’s impact.
In an 8-K filing, Hyatt cut Playa’s 2025 midpoint adjusted EBITDA outlook by
$10 million and said full-year 2025 adjusted EBITDA excluding Playa is now expected to be at the low end of the prior
$1.09 billion–
$1.11 billion range, mainly due to weaker distribution results from Jamaica cancellations. The storm hit Jamaica in October 2025, causing extensive property damage, though all guests and employees were safely evacuated. Hyatt has provided financial support to affected staff.
A Stifel analyst raised Hyatt’s price target to
$164 from
$158 while maintaining a Hold rating.
$H