Hyatt has completed the acquisition of Apple Leisure Group (ALG), a luxury resort-management services, travel and hospitality group.
The company was purchased for US$2.7 billion from KKR and KSL Capital Partners.
Hyatt is doubling its global resorts footprint through the addition the AMR Collection brand portfolio, which comprises approximately 100 hotels and resorts operating in ten countries, as well as a pipeline of 24 executed deals in the Americas and Europe.
As a result, Hyatt now offers one of the largest collections of luxury all-inclusive resorts in the world, including new destinations for Hyatt such as Acapulco, Curaçao, the Canary Islands, Menorca and St. Martin.
Through this acquisition, Hyatt has added properties in 11 new European markets and expanded its European brand footprint by 60 per cent.
“Hyatt’s acquisition of ALG represents a brand-defining moment in our more than 60-year history and builds on our legacy as a hospitality leader,” said Mark Hoplamazian, president and chief executive officer, Hyatt.
“Hyatt and ALG have highly complementary brand portfolios and share a deep commitment to colleague and guest experiences focused on care.
“Having first entered the fast-growing luxury all-inclusive space in 2013, we are ideally positioned to capture the significant and rising demand for leisure travel and extend the world-class hospitality we provide to a wide range of new travellers.
“We are excited to welcome the ALG team to the Hyatt family, and look forward to working together to achieve new levels of growth and value creation for all stakeholders – including our shareholders, owners, customers, guests, members and colleagues.”
ALG’s business will continue to be led by Alejandro Reynal and the current ALG leadership team, and will operate as a distinct business unit within Hyatt.