Hyatt Hotels Corporation has announced that Hyatt has completed the previously announced acquisition of Apple Leisure Group® (ALG), a luxury resort-management services, travel and hospitality group, from affiliates of each of KKR and KSL Capital Partners, LLC.
According to a statement, “through this acquisition, Hyatt has added properties in 11 new European markets and expanded its European brand footprint by 60%, strengthening Hyatt’s growth potential in a critical region for global leisure travel demand.”
“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 travelers. 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.”
“Today marks the beginning of ALG’s next chapter, in which we will continue to build on the strong loyalty and reputation we have established through our luxury travel brands and services, now as part of Hyatt,” said Alejandro Reynal, chief executive officer and president, Apple Leisure Group. “We strongly believe we can achieve more together and are excited by the opportunities ahead for our expanded family, including our ALG team members, who are excited to join a larger global organization. With Hyatt’s added expertise, we expect to accelerate our expansion as we welcome more travelers and turn vacation dreams into life-long memories.”
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