Playa sells Jewel Palm Beach for $68 million

Playa Hotels & Resorts has entered into a binding agreement with a third party to sell its Jewel Palm Beach resort for $68 million (USD) in cash.

According to a press release, the sale is still subject to customary closing conditions, and the company offers no assurances it will be completed.

Still, in a forward-looking statement, Playa expects the transaction to close in the third quarter of 2024.

Jewel Palm Beach, which caters to mid-level luxury clientele, opened less than two years ago, marking the Jewel Resorts brand debut in the Dominican Republic.

The all-inclusive beach resort with 500 suites is located about 20 minutes from Punta Cana International Airport.

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