(Washington) The American hotel group Hyatt announced, on Sunday, the purchase of its compatriot Apple Leisure Group, the owner of hotels and tourist institutions, for $ 2.7 billion, of the investment companies KKR and KSL.
Hyatt Hotels Corporation today announced that it has signed a definitive agreement to acquire Apple Leisure Group (ALG), […] to KKR affiliates and KSL Capital Partners for $2.7 billion in cash,” Hyatt announced in a statement sent to AFP.
The deal is expected to expire in the last quarter of 2021, subject to approval by competition authorities.
Hyatt said Alejandro Renal, the current president of ALG Group, would remain at the helm of the company.
“The addition of ALG hotels will immediately double the global footprint of Hyatt Resorts” and these new hotels will “extend our reach into existing and new markets, including Europe,” said Mark Hoplamzian, CEO of Hyatt, in the press release.
Apple Leisure Group has about 100 establishments in ten countries in America and Europe, with a selection of 4 and 5 stars, as well as all-inclusive stays from the United States to Mexico and the Caribbean.
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