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Hyatt acquiring Apple Leisure Group
Hyatt Hotels announced it agreed a deal to buy Apple Leisure Group for $2.7 billion.
It is buying from KKR & Co and KSL Capital Partners, which purchased the company in 2017.
Apple Leisure’s AMResorts manages resort properties across Mexico, the Caribbean, Europe and Central America.
As well as AMResorts it operates several other brands like Apple Vacations, CheapCaribbean.com and Unlimited Vacation Club.
It also operates package vacation services for Southwest and United Airlines.
“The addition of ALG’s properties will immediately double Hyatt’s global resorts footprint. ALG’s portfolio of luxury brands, leadership in the all-inclusive segment and large pipeline of new resorts will extend our reach in existing and new markets,” said Hyatt CEO Mark Hoplamazian.
Also included in the acquisition is ALG’s Trisept Solutions travel tech subsidiary.
Hyatt will pay $1 billion cash and debt financing
Apple Leisure Group CEO Alejandro Reynal, will remain in charge of the business post-acquisition.
Hyatt says it will receive an additional $2 billion in hotel asset sales by the end of 2024.
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Hyatt acquiring Apple Leisure Group
Hyatt Hotels announced it agreed a deal to buy Apple Leisure Group for $2.7 billion.
It is buying from KKR & Co and KSL Capital Partners, which purchased the company in 2017.
Apple Leisure’s AMResorts manages resort properties across Mexico, the Caribbean, Europe and Central America.
As well as AMResorts it operates several other brands like Apple Vacations, CheapCaribbean.com and Unlimited Vacation Club.
It also operates package vacation services for Southwest and United Airlines.
"The addition of ALG’s properties will immediately double Hyatt’s global resorts footprint. ALG’s portfolio of luxury brands, leadership in the all-inclusive segment and large pipeline of new resorts will extend our reach in existing and new markets," said Hyatt CEO Mark Hoplamazian.
Also included in the acquisition is ALG’s Trisept Solutions travel tech subsidiary.
Hyatt will pay $1 billion cash and debt financing
Apple Leisure Group CEO Alejandro Reynal, will remain in charge of the business post-acquisition.
Hyatt says it will receive an additional $2 billion in hotel asset sales by the end of 2024.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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Sophia Hyder Hock on Global Social Inclusion in Tourism
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Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
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