09:17 AM EST, 12/31/2024 (MT Newswires) -- Playa Hotels & Resorts ( PLYA ) said Tuesday it has signed a binding agreement with an unnamed buyer for its Jewel Paradise Cove resort for $28.5 million in cash.

Playa, which cautioned the deal may not be completed, said it expects the transaction to close in Q1, subject to customary conditions.

Playa shares were climbing more than 2% in Tuesday's premarket activity.