Playa Resorts to Go Public with $500M Infusion
ByThe merger between Pace Holdings Corp. and the luxury hospitality firm will deliver an enterprise value of $1.75 billion.
Fairfax, Va.—Playa Resorts & Hotels, a leading owner, operator and developer of premier all-inclusive resorts, will be going public soon and have an infusion of $500 million in capital to continue its growth now that shareholders of Pace Holdings Corp. have agreed to allow the two companies to merge. The combined company will keep the Playa name and trade on the NASDAQ as PLYA once the transaction is completed. The firms will have an enterprise value of $1.75 billion.
Pace is a special-purpose acquisition company sponsored by an affiliate of TPG, a Fort Worth, Texas-based private equity firm. Also known as a blank check company, Pace was formed by TPG partner Karl Peterson, who is president and CEO of the firm…
Playa Resorts to Go Public with $500M Infusion
