The deal is now done and Hyatt will be working as hard as possible to integrate the business into its portfolio. The big win as far as its existing customers are concerned will come when Apple Leisure Group’s properties become part of the World of Hyatt loyalty programme sometime next year.
Hyatt Hotels Corporation has completed the previously announced acquisition of Apple Leisure Group (ALG) from affiliates of KKR and KSL Capital Partners.
The deal sees Hyatt double its global resorts footprint through the addition of the AMR Collection brand portfolio, which includes around 100 hotels and resorts operating in 10 countries, as well as a pipeline of 24 executed deals in the Americas and Europe.
Hyatt has added 11 new European markets and expanded its European brand footprint by 60%. Additionally, Hyatt plans to integrate he AMR Collection into its World of Hyatt loyalty programme in 2022.
ALG’s business will continue to be led by CEO Alejandro Reynal and the current leadership team and will operate as a distinct business unit within Hyatt. Reynal has joined Hyatt’s executive leadership team and report to CEO Mark Hoplamazian.
Speaking at IHIF in September, Fernando Fernandez, vice president of development at ALG described the deal as a “win-win”.
What They Said
Mark Hoplamazian, CEO, Hyatt: “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. 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.”
Alejandro Reynal, CEO, Apple Leisure Group: “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.
“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.”