by Donald Wood
Last updated: 9:59 AM ET, Tue November 2, 2021
The Hyatt Hotels Corporation announced it has completed the acquisition of Apple Leisure Group (ALG) from affiliates of each of KKR and KSL Capital Partners, LLC.
Hyatt is doubling its global resorts footprint through the addition of ALG's AMR Collection brand portfolio, which comprises approximately 100 hotels and resorts operating in 10 countries, as well as a pipeline of 24 executed deals in the Americas and Europe.
The hotel giant now offers one of the largest collections of luxury all-inclusive resorts in the world, including new destinations such as Acapulco, Curaçao, the Canary Islands, Menorca and St. Martin.
Through the acquisition, Hyatt has added properties in 11 new European markets and expanded its European brand footprint by 60 percent, strengthening the company's growth potential in a key region for global leisure travel demand.
"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 CEO Mark Hoplamazian said. "Hyatt and ALG have highly complementary brand portfolios and share a deep commitment to colleague and guest experiences focused on care."
"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," Hoplamazian continued.
In addition to finding ways to integrate both companies' loyalty programs, Hyatt plans to integrate the AMR Collection into World of Hyatt in 2022 so members can earn and redeem points at more than 100 AMR Collection hotels and resorts.
ALG will continue to be led by Alejandro Reynal and the current ALG leadership team, with the company operating as a distinct business unit within Hyatt.
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