Hyatt to Acquire Apple Leisure Group, Expanding Global Brand Presence in Luxury Leisure Travel
Acquisition accelerates asset-light transformation; launches Hyatt’s commitment to sell additional $2 billion of hotel assets by the end of 2024
Doubles Hyatt’s global resorts footprint with accretive net rooms growth over the coming years with global expansion of AMR™ Collection brands like Secrets®, Dreams® and Zoëtry®
Hyatt to Discuss Transaction on Webcast Scheduled for Monday, August 16 at 7:30 a.m. CDT
CHICAGO, Aug 16 (Bernama-BUSINESS WIRE) — 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 close in the fourth quarter of 2021, subject to customary closing conditions.
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