Hyatt To Acquire Apple Leisure Group, Doubling Global Resorts Footprint
LAURIE BARATTI | TravelPulse.Com Troy Warren for CNT #Travel #Business Hyatt Hotels Corporation announced that it has entered into a definitive agreement to acquire leading North American resort-management, travel and hospitality group Apple Leisure Group (ALG) for a cash amount of $2.7 billion. The purchase from affiliates of capital market company KKR and private equity company KSL Capital Partners, LLC, is expected to close in the fourth quarter of this year, subject to customary closing conditions. ALG’s resort brand management platform, AMResorts, supplies management services to the largest portfolio of luxury, all-inclusive resorts in the Americas under its AMR Collection label. The…