Playa Hotels & Resorts has extended its exclusivity agreement with Hyatt Hotels Corp. through Feb. 10, as the companies continue discussions about strategic options, including a possible acquisition of Playa by Hyatt.
Both companies emphasized that there are no guarantees the discussions will result in a transaction.
The exclusivity agreement between the two was previously set to run through Feb. 3.
Playa owns and/or operates 24 resorts across Mexico, Jamaica and the Dominican Republic under various brands, including Hyatt Ziva, Hyatt Zilara, Hilton All-Inclusive and Marriott's Luxury Collection.
Hyatt's global portfolio has around 1,350 hotels and resorts. It has several all-inclusive brands -- Hyatt Ziva, Hyatt Zilara, Zoetry, Secrets, Dreams, Breathless, Hyatt Vivid, Sunscape and Alua.