Playa Hotels & Resorts, which owns 13 all-inclusive beach resorts in Mexico and the Caribbean, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $300 million.
The company counts Hyatt Hotels (NYSE: H) among its shareholders.
The Amsterdam, Netherlands-based company was founded in 2006 and booked $481 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol PLYA. Playa Hotels & Resorts filed confidentially on October 14, 2014. BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
