Hyatt Hotels will buy Playa Hotels & Resorts for about $2.6 billion including debt, the company said on Monday, seeking to boost its presence in Mexico and the Caribbean.

Hospitality giant Hyatt will soon acquire Playa Hotels & Resorts for about $2.6 billion, the corporation announced on Monday. Currently, Hyatt owns 9.4% of Playa's shares and when the acquisition is complete,

Hyatt Hotels will buy Playa Hotels & Resorts for about $2.6 billion including debt, net of cash, the company said on Monday, seeking to boost its presence in Mexico and the Caribbean. The acquisition follows rising interest in upscale and luxury offerings outside the U.