Hyatt to Acquire ALG for $2.7 Billion
Hyatt Hotels today announced an agreement to acquire Apple Leisure Group (ALG), a leading luxury resort-management services, travel and hospitality group, for $2.7 billion in cash. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions.
ALG’s resort brand management platform AMResorts provides management services to the largest portfolio of luxury all-inclusive resorts in the Americas under the AMR Collection brand portfolio, including well-known brands Secrets Resorts & Spa, Dreams Resorts & Spas, Breathless Resorts & Spas and Zoëtry Wellness & Spa Resorts as well as the fast-growing Alua Hotels & Resorts brand, which is expanding in European leisure destinations. The acquisition also includes ALG’s membership offering, Unlimited Vacation Club, travel distribution business ALG Vacations, as well as destination management services and travel technology assets.
“At Hyatt we are always listening to our guests and members, and understand they are craving even more leisure offerings,” said Amy Weinberg, senior vice president, Loyalty, Brand Marketing and Consumer Insights, Hyatt. “The acquisition of Apple Leisure Group will expand our luxury getaway options with 100 new luxury resorts to choose from across Europe, Mexico, the Caribbean and Central America. It is too soon to know exactly how or when World of Hyatt will come to life within these resorts, however, please know that we are working fast and that we will share more as soon as we have it. In the meantime, we hope our guests and members will enjoy browsing the AMR collection to discover a new destination that’s just right for them.”
ALG’s hotel portfolio consists of over 33,000 rooms operating in 10 countries. The portfolio has grown from nine resorts in 2007 to approximately 100 properties by the end of 2021 and has a pipeline of 24 executed deals with a large number of additional hotels in the development process. ALG’s Unlimited Vacation Club is an exclusive travel club with over 110,000 members who enjoy preferred rates and other benefits at AMR Collection properties.
With the addition of ALG, Hyatt will extend its brand footprint in new European markets such as Spain, Canary Islands, Balearic Islands and Greece. Hyatt will offer the largest collection of all-inclusive luxury resorts in the world and expects ALG’s AMR Collection of resorts to join Hyatt. That would give World of Hyatt members nearly 100 new luxury resorts to choose from across Europe, Mexico, the Caribbean and Central America.
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