Playa Hotels & Resorts Goes Public

Playa Hotels & Resorts is the first company in the all-inclusive segment to become a publicly traded organization.

Following its business combination with special-purpose acquisition company Pace Holdings Corp. (an affiliate of TPG) yesterday (March 13) morning, Playa Hotels & Resorts started trading on NASDAQ under PLYA and PLYAW.

Playa CEO and chairman Bruce Wardinski and his management team will continue to run the combined company. In connection with the closing of the transaction, TPG partner and Pace president and CEO Karl Peterson has been appointed to the company’s board of directors.

On Dec. 13, 2016, Pace and Playa entered into a definitive transaction agreement, which was approved by the shareholders of Pace on March 1.