Playa Hotels & Resorts Announces the Acquisition of Five AMResorts' Properties
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Playa Hotels & Resorts Announces the Acquisition of Five AMResorts' Properties
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2008-01-10
Secrets Capri, Dreams Cancun, Dreams Puerto Vallarta, Sunscape Puerto Aventuras and Dreams Punta Cana
The resorts will continue to be managed by AMResorts
Playa Hotels & Resorts, S.L. today announced it has closed on the purchase of five resorts, operated and branded by AMResorts, located throughout Mexico and the Dominican Republic. The properties include:
-- Secrets Capri Riviera Cancun
-- Dreams Cancun Resort & Spa
-- Dreams Puerto Vallarta Resort & Spa
-- Sunscape Puerto Aventuras Riviera Maya
-- Dreams Punta Cana Resort & Spa, Dominican Republic
The acquisition of these five upscale Unlimited Luxury(R) and Unlimited Fun(R) resorts complements Playa's existing portfolio of 12 resorts throughout Mexico and the Dominican Republic operated by Barcelo Hotels & Resorts and AMResorts. As part of the arrangement with AMResorts, Playa has committed to spend over $25 million over the next 12 months to upgrade the five properties which will retain their AMResorts branding and management.
Bruce Wardinski, Chairman and CEO of Playa Hotels & Resorts, said, "We look forward to our expanding relationship with AMResorts as we acquire these well-run and popular hotels. AMResorts has a proven track record for operating quality resorts that appeal to upscale luxury travelers. They continue to deliver extraordinary customer experiences that drive demand, brand loyalty and profitability," added Wardinski.
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