Business Wire

Hyatt Completes Acquisition of Apple Leisure Group, Creating Global Leader in Leisure and Luxury All-Inclusive Travel

Share

Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has completed the previously announced acquisition of 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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211102005724/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Dreams Las Mareas Resort and Spa (Photo: Business Wire)

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. As a result, Hyatt now offers one of the largest collections of luxury all-inclusive resorts in the world, including new destinations for Hyatt such as Acapulco, Curaçao, the Canary Islands, Menorca and St. Martin. Through this acquisition, Hyatt has added properties in 11 new European markets and expanded its European brand footprint by 60%, strengthening Hyatt’s growth potential in a critical region for global leisure travel demand.

In addition, Hyatt is offering even more options and experiences for its high-end guest and customer base and enhancing the end-to-end leisure travel experience through:

  • Unlimited Vacation Club® by AMR™ Collection, an exclusive membership club whose members enjoy preferred rates and other benefits at participating AMR™ Collection properties
  • ALG Vacations®, one of the largest packaged vacation providers and leisure travel distribution platforms in North America serving the United States, Mexico and the Caribbean
  • Amstar, a leading destination services management company
  • Trisept Solutions®, a unique leisure travel technology platform

Hyatt is determining ways in which the World of Hyatt® loyalty program and ALG’s Unlimited Vacation Club® can bring added value and unique loyalty benefits to their respective member bases. Hyatt plans to integrate the AMR™ Collection into World of Hyatt in 2022 so that members can earn and redeem World of Hyatt points at more than 100 AMR™ Collection hotels and resorts.

“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,” said Mark Hoplamazian, president and chief executive officer, Hyatt. “Hyatt and ALG have highly complementary brand portfolios and share a deep commitment to colleague and guest experiences focused on care. Having first entered the fast-growing luxury all-inclusive space in 2013, we are ideally positioned to capture the significant and rising demand for leisure travel and extend the world-class hospitality we provide to a wide range of new travelers. 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.”

“Today marks the beginning of ALG’s next chapter, in which we will continue to build on the strong loyalty and reputation we have established through our luxury travel brands and services, now as part of Hyatt,” said Alejandro Reynal, chief executive officer and president, Apple Leisure Group. “We strongly believe we can achieve more together and are excited by the opportunities ahead for our expanded family, including our ALG team members, who are excited to join a larger global organization. With Hyatt’s added expertise, we expect to accelerate our expansion as we welcome more travelers and turn vacation dreams into life-long memories.”

ALG’s business will continue to be led by Alejandro Reynal and the current ALG leadership team. ALG will operate as a distinct business unit within Hyatt. Mr. Reynal has joined Hyatt’s executive leadership team and reports to Mr. Hoplamazian.

In September of 2021, Hyatt fulfilled its asset disposition commitment announced in 2019 of $1.5 billion resulting in a total of more than $3 billion of proceeds realized since its asset-disposition strategy was launched in 2017, at a combined multiple of over 17x EBITDA. Hyatt also reaffirms its commitment to generate an additional $2 billion in proceeds from asset dispositions by the end of 2024.

Advisors
In connection with the transaction, BDT & Company, LLC and J.P. Morgan served as financial advisors to Hyatt, and Latham & Watkins LLP acted as its legal advisor. PJT Partners served as financial advisor to ALG, and Simpson Thacher & Bartlett LLP acted as its legal advisor. Credit Suisse and Deutsche Bank Securities Inc. served as financial advisors to KKR and KSL Capital Partners.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 20 premier brands. As of June 30, 2021, the Company's portfolio included more than 1,000 hotel and all-inclusive properties in 68 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries operate, manage, franchise, own, lease, develop, license, or provide services to hotels, resorts, branded residences, and vacation ownership properties, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, tommie™, UrCove, and Hyatt Residence Club® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.

About Apple Leisure Group®
Apple Leisure Group® (ALG) is a leading North American resort brand-management, leisure travel and hospitality group with a unique business model serving travelers and destinations worldwide. ALG, through its group of affiliated companies, consistently delivers exceptional value to travelers and strong performance to resort owners and partners by strategically leveraging its portfolio of brands including: AMResorts LP, or one or more of its affiliates which collectively provide sales, marketing, and brand management services to resort and hotel brands under the AMR™ Collection including 5-star and 4-star luxury award-winning brands including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas; ALG Vacations®, one of the largest sellers of vacation packages and charter flights in the U.S. for travel to Mexico and the Caribbean, with well-established brands: Apple Vacations®, Funjet Vacations®, Travel Impressions®, CheapCaribbean.com®, BeachBound®, Blue Sky Tours®, Southwest Vacations®, and United Vacations®; the exclusive membership program Unlimited Vacation Club®; best-in-class destination management services provided by Amstar DMC; and the innovative technology solutions provider Trisept Solutions®, connecting over 88,000 travel agents with leading travel suppliers. To learn more about the Apple Leisure Group® advantage, visit www.appleleisuregroup.com.

Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the Company’s acquisition of Apple Leisure Group®, including expected financial and operational benefits resulting from the acquisition, guest and owner advantages arising from the acquisition, the amount and timing of future asset dispositions and projected sales multiples of such asset dispositions, the expected growth of global luxury travel andthe Company’s system-wide leisure room revenue mix, the projected future fee based earnings of the combined company, expected benefits and added value from the World of Hyatt loyalty program and Apple Leisure Group’s membership offering, the Company’s plans, strategies, outlook, financial performance, projections, financing proposals, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, risks associated with the consummation of the acquisition of Apple Leisure Group®, including the related incurrence of material additional indebtedness; the Company’s ability to successfully integrate Apple Leisure Group’s employees and operations into the Company; the ability to realize the anticipated benefits and synergies of the acquisition of Apple Leisure Group® as rapidly or to the extent anticipated; the duration of the COVID-19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants; the short and longer-term effects of the COVID-19 pandemic, including the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the broad distribution and efficacy of COVID-19 vaccines and wide acceptance by the general population of such vaccines; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and all-inclusive segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, such as the COVID-19 pandemic, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation;general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Apple Leisure Group’s membership offering; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business; and other risks discussed in the Company’s filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Contact:
Franziska Weber
+1 312 780 6106
franziska.weber@hyatt.com

Investor Contact:
Noah Hoppe
+1 312 780 5991
noah.hoppe@hyatt.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure2.12.2021 22:01:00 CET | Press release

Bentley Systems, Incorporated (Nasdaq:BSY), the infrastructure engineering software company, today announced the winners of the 2021 Going Digital Awards in Infrastructure. The annual awards program recognizes the extraordinary work of Bentley software users advancing infrastructure design, construction, and operations throughout the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005219/en/ Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure (Photo: Business Wire) Sixteen independent jury panels selected the 57 finalists from nearly 300 nominations submitted by more than 230 organizations from 45 countries encompassing 19 categories. To see the Going Digital Awards in Infrastructure finalists present their projects, click here. Bentley Systems showcased 19 Going Digital Awards in Infrastructure winners on December 2 during the 2021 Year in Infrastructure and Going Digital Awards

Vifor Pharma comments on market speculations2.12.2021 18:40:00 CET | Press release

Regulatory News: AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Due to current market speculations, Vifor Pharma Group states the following: Vifor Pharma Group systematically reviews options that can strengthen its market position and/or accelerate the growth of the company both organically and through partnerships and acquisitions. Vifor Pharma is therefore regularly in discussions with other market participants and does not comment on them. About Vifor Pharma Group Vifor Pharma Group is a global pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is a partner of choice for pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core b

Covid - 19: Laboratoire Cerba Detects First Case of Omicron Variant in Mainland France2.12.2021 16:44:00 CET | Press release

Laboratoire Cerba, a global leader in specialized clinical pathology and member of the Cerba HealthCare Group, has detected a case of the Omicron variant from the sample of a patient arriving from Nigeria who was tested at Roissy Charles De Gaulle airport. The authorities - Santé Publique France [Public Health France], Agence Régionale de Santé Ile de France [Paris Regional Health Agency] and Direction Générale de Santé [General Directorate for Health]- were immediately informed. Laboratoire Cerba, chosen last October by the French Health Authorities to participate in the Emergen consortium, carries out between 1,000 and 1,500 sequencings per week with results returned in less than 5 days. Sylvie Cado, CEO of Laboratoire Cerba explains: "From the beginning of the epidemic, we have been working closely with the Authorities and the National Reference Centres to share the information and the strains of interest in order to support our Authorities in steering public policy: the systematic

i2c Partners with BEYON Money and Visa to Launch First Open Banking Super App in Bahrain2.12.2021 16:23:00 CET | Press release

i2c Inc., a leading provider of digital payment and banking technology, today announced its partnership with BEYON Money, the mobile super app launched by Batelco Financial Services, which is the fintech arm of Bahrain’s leading digital solutions and telecommunications provider. Backed by a recently-secured, first-of-its-kind open banking license from the Central Bank of Bahrain, the BEYON Money super app will host a digital wallet that enables retail, bill, and peer-to-peer payments for its users, connects to bank accounts through open banking, delivers financial insights and provides digital remittances. BEYON Money will develop card issuing and processing functionalities through i2c’s agile banking and payments platform which will also integrate additional partners and services. Through i2c’s Fintech Fast Track certification, BEYON Money will tap into Visa’s network infrastructure to launch a digital-first debit program to the market with a physical card option available upon reques

ENTERPRISE AND MEDIA ORGANIZATIONS DRIVE REVENUE, ENGAGEMENT, AND DEMAND WITH BRIGHTCOVE SOLUTIONS, INDEPENDENT STUDY REVEALS2.12.2021 15:00:00 CET | Press release

Brightcove Inc. (Nasdaq: BCOV), the global leader in video for business, released findings that enterprises and media organizations can generate 225% and 226% ROI respectively with Brightcove and see a full return on the initial investment in less than six months. The commissioned Total Economic Impact™ (TEI) studies conducted by Forrester Consulting examined cost savings and business benefits with Brightcove solutions for enterprise and media organizations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005560/en/ Forrester Consulting interviewed decision-makers at multiple enterprise and media organizations with experience using Brightcove. Respondents came from organizations headquartered in the US and EMEA, all with multi-billion dollars of annual revenues. The enterprise interviewees represented industries including automotive manufacturing, technology manufacturing, and media services that primarily use video to

ElectReon Brings Wireless Inductive Electric Vehicle Charging Technology to Italy’s “Arena of the Future”2.12.2021 14:00:00 CET | Press release

ElectReon (TASE: ELWS.TA), the leading provider of inductive in-road charging technology for commercial and passenger electric vehicles, announced the launch of the “Arena of the Future'' project in Brescia, Italy where the company has integrated its wireless technology to charge an IVECO bus and Stellantis’s Fiat Nuova 500 passenger vehicle while driving. This project is demonstrating contactless charging for a range of EVs as they drive on highways and toll roads as a potential pathway to decarbonizing long-haul transportation systems along motorway transport corridors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005493/en/ ElectReon announces the launch of "Arena of the Future" in Italy (Photo: Business Wire) The construction and technical implementation of the 1,050-metre-long circuit equipped with ElectReon’s properarity in-road charging coils and supported by 1MW of electrical power has been successfully compl

Orbital Insight Integrates with Esri's ArcGIS Platform to Streamline Satellite and Sensor Imagery Analysis2.12.2021 14:00:00 CET | Press release

Orbital Insight's fusion of multisensor geospatial data and state-of-the-art algorithms has been helping customers address critical concerns for years—from determining the flow of container ship traffic amid unprecedented supply chain delays to visualizing dynamic intelligence and defense-related threats and anomalies across the globe. With the adoption of Esri's ArcGIS Platform, Orbital Insight is making it easier for its users to integrate with ArcGIS and analyze their data. Customers of Esri, the world leader in location intelligence, who also use Orbital Insight GO can now seamlessly work between both systems, making it easier to meet spatial challenges with Esri basemap visualizations directly within the Orbital Insight GO platform and export their analysis to ArcGIS. The integration with Esri's ArcGIS Platform provides an integral reference point for analysts as well as a more cohesive and natural user experience. More collaboration is planned, including eventually incorporating

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom