Hyatt spent $2.7 billion to become the world’s largest operator of luxury all-inclusive resorts
Dreams Resorts & Spasoday Hyatt Hotels Corporation announced that it is buying luxury resorts operator Apple Leisure Group for $2.7 billion in cash. The acquisition comprises 33,000 hotel rooms in 10 countries, making Hyatt the world’s largest operator of luxury all-inclusive resorts based on room count and the largest operator of luxury hotels in Mexico and the Caribbean.
ALG’s AMResorts is the largest portfolio of luxury all-inclusive resorts in the Americas, with well-known high-end brands Secrets Resorts & Spa, Dreams Resorts & Spas, Breathless Resorts & Spas and Zoëtry Wellness & Spa Resorts, as well as Alua Hotels & Resorts, which is expanding quickly in Europe. “We’re very bullish on leisure travel. It's proven its resiliency and durability,” said Mark Hoplamazian, president and CEO of Hyatt, on an investor call this morning. “Leisure travel has recovered more quickly than business travel. We're excited about luxury in particular because we expect the global luxury travel market to grow at about 11% from 2021 to 2027.”
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