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Playa Hotels & Resorts has agreed to sell the Jewel Palm Beach for approximately $68 million in cash.
The luxury all-inclusive resort giant announced Monday that it has entered into a binding agreement with a third party to sell the sprawling property, which is located in Punta Cana, Dominican Republic.
The resort's sale remains subject to customary closing conditions and Playa said it offers no assurances that the sale will be completed.
However, company officials said they expect the transaction to close sometime in the third quarter of 2024.
Jewel Palm Beach, which opened less than two years ago, marked the Jewel Resorts brand's debut in the Dominican Republic.
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A Maryland native and wanderer who has lived across the U.S. from North Carolina to SoCal, Patrick Clarke graduated from Towson University with a B.S. in journalism. He previously worked for Bleacher
Experience Paradise at Majestic Elegance Punta Cana
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