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ACQUISITIONS AND DISPOSITIONS (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination
Total purchase consideration was determined as follows:
Ordinary shares outstanding123,013,382
Less: Hyatt's previously-held ordinary shares(12,143,621)
Total number of ordinary shares acquired110,869,761
Offer Consideration per share$13.50 
Cash paid to shareholders (1)$1,497 
Fair value of share-based payment awards to Terminating Employees25 
Fair value of Continuing Awards3 
Settlement of preexisting relationship (2)8 
Total purchase consideration$1,533 
(1) Includes $7 million paid to shareholders during the three months ended September 30, 2025.
(2) Represents the effective settlement of existing receivables and key money assets related to Playa Hotels, which was determined based on the respective carrying values at the acquisition date.
Total purchase consideration was determined as follows:
Cash paid, net of cash acquired$372 
Cash acquired2 
Fair value of deferred consideration58 
Fair value of contingent consideration33 
Total purchase consideration$465 
Total purchase consideration was determined as follows:
Cash paid, net of cash acquired$148 
Cash acquired3 
Fair value of contingent consideration108 
Total purchase consideration$259 
Schedule of Identifiable Net Assets Acquired
The following table summarizes the preliminary fair value of the identifiable net assets acquired at the acquisition date:
Purchase consideration$1,533 
Fair value of Hyatt's previously-held ordinary shares164 
Total to be allocated$1,697 
Cash and cash equivalents$195 
Receivables7 
Prepaids and other assets3 
Prepaid income taxes1 
Current assets held for sale141 
Property and equipment6 
Operating lease right-of-use assets6 
Goodwill (1)963 
Deferred tax assets2 
Other assets1 
Long-term assets held for sale1,761 
Total assets acquired$3,086 
Accounts payable$34 
Accrued expenses and other current liabilities112 
Accrued compensation and benefits8 
Current operating lease liabilities1 
Current liabilities held for sale118 
Debt1,075 
Long-term operating lease liabilities5 
Other long-term liabilities1 
Long-term liabilities held for sale35 
Total liabilities assumed$1,389 
Total net assets acquired attributable to Hyatt Hotels Corporation$1,697 
(1) The goodwill is attributable to securing the ability for us to manage certain properties in the Playa Hotels Portfolio over the long term as well as growth opportunities we expect to realize by introducing the properties to our all-inclusive platform offerings, including our distribution and destination management services and the Unlimited Vacation Club business that we manage. During the three months ended September 30, 2025, we completed the assignment of goodwill to our reporting units (see Note 8). The goodwill, of which $855 million was recorded on our management and franchising segment and $108 million was recorded on our distribution segment, is not tax deductible.
The following table summarizes the preliminary fair value of the acquired VIE (see Note 4) and other separately identifiable net assets acquired at the acquisition date:
Cash and cash equivalents$2 
Receivables (1)15 
Operating lease right-of-use assets1 
Goodwill (2)205 
Indefinite-lived intangibles (3)84 
Management and hotel services agreement intangibles (4)616 
Other assets (5)50 
Total assets acquired$973 
Accounts payable (1)$15 
Accrued expenses and other current liabilities1 
Long-term operating lease liabilities1 
Other long-term liabilities (6)209 
Total liabilities assumed$226 
Noncontrolling interest$282 
Total net assets acquired attributable to Hyatt Hotels Corporation$465 
(1) Relates to value added taxes. We recorded an offsetting payable as amounts to be received were due to a third party.
(2) The goodwill is attributable to the growth opportunities we expect to realize by expanding our all-inclusive resort offerings. During the three months ended September 30, 2025, we completed the assignment of goodwill to our reporting units (see Note 8). The goodwill, which is not tax deductible, was recorded on our management and franchising segment.
(3) Relates to the Bahia Principe brand name.
(4) Amortized over useful lives of approximately 25 to 31 years, with a weighted-average useful life of approximately 28 years.
(5) Represents an indemnification asset that we expect to collect under contractual agreements for pre-acquisition tax liabilities as discussed below (see Note 9).
(6) Includes $50 million of pre-acquisition tax liabilities, including interest, related to certain foreign filing positions (see Note 11), which are fully indemnified as described above.
The following table summarizes the fair value of the identifiable net assets acquired at the acquisition date:
Cash and cash equivalents$3 
Receivables4 
Operating lease right-of-use assets6 
Goodwill (1)128 
Indefinite-lived intangibles (2)88 
Management and franchise agreement intangibles (3)51 
Total assets acquired$280 
Accounts payable$1 
Accrued expenses and other current liabilities1 
Accrued compensation and benefits3 
Current operating lease liabilities1 
Long-term contract liabilities2 
Long-term operating lease liabilities5 
Other long-term liabilities8 
Total liabilities assumed$21 
Total net assets acquired attributable to Hyatt Hotels Corporation$259 
(1) The goodwill, which is primarily tax deductible and was recorded on our management and franchising segment, is attributable to the growth opportunities we expect to realize by enhancing our lifestyle portfolio and offering immersive brand experiences.
(2) Relates to The Standard, Bunkhouse Hotels, The Manner, and The StandardX brand names.
(3) Amortized over useful lives of approximately 5 to 24 years, with a weighted-average useful life of approximately 17 years.
The following table summarizes assets and liabilities held for sale within our owned and leased segment on our condensed consolidated balance sheet at September 30, 2025:
Cash and cash equivalents$50 
Receivables, net44 
Inventories17 
Prepaids and other assets21 
Prepaid income taxes6 
Current assets held for sale138 
Property and equipment1,783 
Other assets3 
Long-term assets held for sale1,786 
Total assets held for sale$1,924 
Current maturities of long-term debt (1)$1 
Accounts payable15 
Accrued expenses and other current liabilities12 
Current contract liabilities56 
Accrued compensation and benefits18 
Current liabilities held for sale102 
Long-term debt (1)18 
Other long-term liabilities16 
Long-term liabilities held for sale34 
Total liabilities held for sale$136 
(1) Relates to finance lease obligations.
Schedule of Business Combination, Pro Forma Information
Following the acquisition date, the operating results of Playa Hotels were recognized in our condensed consolidated statements of income (loss) as follows:
Three Months Ended September 30, 2025Period from the Acquisition Date through
September 30, 2025
Total revenues$161 $208 
Net income (loss) attributable to Hyatt Hotels Corporation (1)11 (25)
(1) Includes $10 million and $55 million of non-recurring transaction costs that were incurred and recognized by Playa Hotels during the three months ended September 30, 2025 and the period from the acquisition date through September 30, 2025, respectively.
The following table presents the unaudited pro forma combined results of Hyatt and Playa Hotels as if the Playa Hotels Acquisition had occurred on January 1, 2024:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Total revenues$1,786 $1,798 $5,727 $5,707 
Net income (loss) attributable to Hyatt Hotels Corporation(39)449 57 1,281