Playa Hotels & Resorts has sold its Jewel Punta Cana property for $82 million (USD), according to a press release issued on Dec. 18.
The company expects total net proceeds of approximately $70 million. The transaction was completed on December 15, 2023.
Playa has also entered into a long-term hotel management agreement with the new owner to manage the resort.
Proceeds from the transaction will be used for general corporate purposes, the company said.
The all-ages resort with 620 rooms is located roughly 20 minutes from Punta Cana International Airport on Uvero Alto Beach.