Outrigger Hotels and Resorts
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Published on Monday, August 16, 2021

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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