Tortuga to spend more than US$400m rebuilding Ja resorts

Tortuga Resorts will spend more than US$400 million (J$64 billion) rebuilding its Jamaican hotels after Hurricane Melissa, with phased reopenings due to begin in the first quarter of 2027.

It is the first time the owner has put a figure on the work.

“Tortuga is making a significant, more than US$400 million investment, in the reconstruction of its Jamaica resorts,” a Tortuga spokesperson told the Financial Gleaner. “As owners, we are committed to leading the work and ensuring that the resorts are rebuilt to a high standard, with stronger infrastructure and enhanced resilience.”

Tortuga acquired the resorts in December 2025, paying about US$2 billion for 14 properties across Mexico, the Dominican Republic and Jamaica. Hyatt Hotels Corporation had bought them weeks earlier as part of its US$2.6 billion purchase of Playa Hotels & Resorts, then sold the real estate to complete what it called a fully asset-light transaction. Hyatt retained 50-year management agreements on 13 of the 14 and US$200 million of preferred equity in Tortuga.

Tortuga’s Jamaican holdings sit along the Montego Bay–Rose Hall corridor and include Hyatt Ziva Rose Hall, Hyatt Zilara Rose Hall and Dreams Rose Hall Resort & Spa, together with an interest in Jewel Grande Montego Bay Resort & Spa. Hyatt manages a wider Jamaican portfolio of about 2,100 rooms, roughly 900 of which came through its earlier purchase of Apple Leisure Group rather than Playa.

Hyatt confirmed its 2027 reopening date in its third-quarter results released last month. “As we look ahead into next year, our owners are very focused on opening up these hotels,” Hyatt chief financial officer Joan Bottarini told analysts in an earnings call. “So, our current estimate right now is late first-quarter, early second-quarter for reopening of those hotels in Jamaica.”

Bottarini said the company had built a US$15 million Jamaica “headwind” into its original guidance. The hit showed up most clearly in the distribution segment, where adjusted earnings before interest, tax, depreciation and amortisation fell to US$17 million from US$21 million a year earlier. That business packages and sells holidays, and with the Jamaican rooms offline it had less inventory to sell.

“Importantly, we are delivering this strong growth despite the temporary hotel closures in Jamaica and softer demand in Mexico and the Middle East,” Bottarini said.

Executives expect the position to reverse next year. “There are several tailwinds that are going to help us into next year, including the hotels reopening in Jamaica as well,” Bottarini said. She added that the distribution business would benefit directly once the rooms return.

Airlift is moving the same way. The Jamaica Tourist Board says airlines have committed 1.32 million seats for the January to April 2027 winter season, 23.5 per cent above the comparable 2026 period and equal to 92.4 per cent of pre-Melissa capacity.

Hyatt president and chief executive Mark Hoplamazian cautioned that the comparison flatters. “Of course, the year-over-year numbers are stratospheric because they got cut back so severely in 2026, but it is a restoration, a very quick ramp to restoration of lift into Jamaica,” he said.

Separately, Hyatt’s Inclusive Collection told the Financial Gleaner that two Bahia Principe-branded resorts in Jamaica, which it manages for a different owner, have already resumed taking guests.

carolyn.guniss@rjrgleaner.com