Hogan Lovells advised resorts owner and operator Playa Hotels & Resorts on its combination with Pace Holdings.
Playa Hotels & Resorts is headquartered in Fairfax, Virginia and it owns and operates 13 all-inclusive resorts located on prime beachfront properties in the Dominican Republic, Jamaica, and Mexico. It also operates six Hyatt hotels in Mexico and Jamaica. Then company filed for a $100 million IPO in September 2016.
Pace Holdings is a NASDAQ-listed special-purpose acquisition company backed by private equity firm TPG.
Under the deal, which value was not disclosed, the combined company will keep Playa’s name and be a publicly-listed business with an anticipated initial enterprise value of roughly $1.75 billion.
Hogan Lovells previously advised Playa on its acquisition of the initial portfolio in 2006 and corporate reorganization and related financing transaction in 2013.
Partners Eve Howard, Mike McTiernan, and Bruce Gilchrist led the Hogan Lovells team acting for the resorts company.