Panama Jack Name Licensed for Mexican Resorts
Panama Jack is making its first play for the resort business. The brand signed a deal with Playa Hotel and Resorts to apply its name to the 470-room Gran Caribe and 287-room Gran Porto in Playa Del Carmen and Cancun, Mexico. Terms weren’t disclosed, but the rebranding will be complete by late 2017, Panama Jack says. The plans call for a restaurant, bar, in-room products, signs and uniforms to bear the Panama Jack brand. There also will be a Panama Jack store in each resort to sell a range of licensed goods.
The licensing deal is Playa Hotel and Resorts’ first major move since being acquired by Pace Holdings Corp. in December in a deal valued at $1.75 billion. Playa operates 13 resorts in Mexico, the Dominican Republic and Jamaica; six are under the Hyatt brand. “This is the natural evolution of our brand, confirming its preeminence in the casual lifestyle market,” says Panama Jack CEO Kim Manna.