Hyatt Hotels Corporation to expand global presence with $2.7 billion ALG acquisition

Hyatt Hotels Corporation (NYSE: H) has entered a definitive agreement to phase leading travel, luxury resort-management, and hospitality group, Apple Leisure Group from KKR and KSL Capital Partners' affiliates for cash consideration of $2.7 billion. The company anticipates closing of the deal in Q4 2021, subject to meeting standard closing conditions.

Hyatt acquiring ALG for $2.7 billion

Through the AMR Collection brand portfolio, Apple Leisure Group's resort management platform AMResorts offers management services to leading luxury resorts in the Americas. Notable names it provides services to include Dreams Resorts & Spas, Secrets Resorts & Spa, Zoetry Wellness & Spa Resorts, and Breathless Resorts & Spa. Equally, it offers its services to Alua Hotels & Resorts, which is a fast-growing European leisure destination.

Alejandro Reynal, the current CEO of ALG, will continue leading ALG's operations following the completion of the transaction. Reynal will join the Hyatts executive team and will be reporting to CEO Mark Hoplamazian. Hoplamazian said:

The CEO added:

ALG’s hotel portfolio is more than 33,000 rooms

ALG's hotel business includes over 33,000 rooms spread across ten countries. Since 2007, the portfolio has grown from nine resorts to around 100 properties by the end of this year, with a pipeline of 24 completed agreements and a considerable number of future hotels in the planning stages. ALG CEO Alejandro Reynal said: