We Believe in Wicked Travel
The pandemic has done little to curb the hospitality industry’s appetite for all-inclusive expansion, with Hyatt Hotels Corp.’s agreement to acquire Apple Leisure Group (ALG) turning up the heat in an already white-hot sector. The $2.7 billion transaction, which is set to close in the fourth quarter, was the biggest all-inclusive play by a leading…
CHICAGO–(BUSINESS WIRE)–Aug 15, 2021– Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has entered into a definitive agreement to acquire Apple Leisure Group (ALG), a leading luxury resort-management services, travel and hospitality group, from affiliates of each of KKR and KSL Capital Partners, LLC for $2.7 billion in cash. The transaction is anticipated to…
That’s the clear signal being sent by Chicago-based global hotel giant Hyatt, which on Aug. 16 unveiled plans to buy KKR-backed resort operator Apple Leisure Group for $2.7 billion in cash—an amount that Crain’s Danny Ecker notes this week is equivalent to more than a third of Hyatt’s current market cap. You might know Apple Leisure Group…
Amid concerns about the spread of the highly-contagious delta variant, Hyatt Hotels is expanding its luxury hotels and resorts by acquiring Apple Leisure Group from KKR and KSL Capital Partners. The company is placing a bet on leisure travel, pushing its revenues from the segment over the 50% mark, from 45%, with business travel making…