What is the approximate enterprise value of the Playa Hotels Acquisition that The Standardx plans to undertake?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
Playa Hotels—On February 9, 2025, we agreed to acquire all of the outstanding shares of Playa Hotels, a leading owner, operator, and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations. Pursuant to the purchase agreement, Hyatt has commenced a tender offer to purchase all of the issued and outstanding ordinary shares at a cash price of $13.50 per share, for an enterprise value of approximately $2,600 million, including approximately $900 million of debt, net of cash acquired (the "Playa Hotels Acquisition"). We are currently the beneficial owner of 9.4% of Playa Hotels' outstanding shares (see Note 4). We intend to finance the acquisition using net proceeds from the 2028 Notes and 2032 Notes (see Note 9) and from a $1,700 million delayed draw term loan facility provided by a credit agreement with a syndicate of lenders that we entered into on April 11, 2025.
Source: Item 1 — Financial Statements. (FDD pages 156–187)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the company agreed to acquire Playa Hotels on February 9, 2025. The document states that The Standardx commenced a tender offer to purchase all outstanding ordinary shares of Playa Hotels at a cash price of $13.50 per share.
The enterprise value for the Playa Hotels Acquisition is approximately $2,600 million. This figure includes approximately $900 million of debt, net of cash acquired.
The Standardx intends to finance the acquisition using net proceeds from the 2028 Notes and 2032 Notes, as well as a $1,700 million delayed draw term loan facility. As of the FDD issue date, The Standardx was already the beneficial owner of 9.4% of Playa Hotels' outstanding shares.