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Hyatt completes acquisition of Apple Leisure Group

Well positioned to capture significant and growing Leisure Travel demand with enhanced end-to-end offerings and an increasingly diversified portfolio; Reaffirms expanded asset sale commitment to generate an additional $2 Billion of proceeds by end of 2024; Fully completes existing commitment.


CHICAGO – Hyatt Hotels Corporation, 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.

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. 

Hyatt Reports Third-Quarter 2021 Results
Hyatt Hotels Corporation reported third-quarter 2021 financial results. Net income attributable to Hyatt was $120 million, or $1.15 per diluted share, in the third quarter of 2021, compared to a net loss attributable to Hyatt of $161 million, or $1.59 per diluted share, in the third quarter of 2020. Adjusted net income attributable to Hyatt was $241 million, or $2.31 per diluted share, in the third quarter of 2021, compared to Adjusted net loss attributable to Hyatt of $150 million, or $1.48 per diluted share, in the third quarter of 2020. Refer to the table on page 11 of the schedules for a summary of special items impacting Adjusted net income (loss) and Adjusted earnings (losses) per share for the three months ended September 30, 2021 and September 30, 2020.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "During the quarter, we again produced results that exceeded expectations and demonstrated the resilience of our business. Adjusted EBITDA for the third quarter approached 70% of 2019 levels and more than doubled from the prior quarter. Leisure demand continues to lead the recovery and momentum for business and group travel is growing. The recovery is evident in more markets as travel restrictions ease and borders reopen."

Third quarter of 2021 highlights are as follows:

  • Net income increased compared to the third quarter of 2020 to $120 million.
  • Adjusted EBITDA increased compared to the third quarter of 2020 to $110 million.
  • Comparable system-wide RevPAR increased to $93.70 in the third quarter of 2021, and decreased 31.8% compared to the third quarter 2019 on a reported basis.
  • Comparable owned and leased hotels RevPAR increased to $117.33 in the third quarter of 2021, and decreased 35.5% compared to the third quarter 2019 on a reported basis.
  • Net rooms growth of 6.9% compared to the third quarter of 2020.
  • Pipeline of executed management or franchise contracts for approximately 103,000 rooms, an increase of 2.0% compared to the third quarter of 2020.

Mr. Hoplamazian continued, "We made significant progress in the quarter towards executing our long-term strategy through the acquisition of Apple Leisure Group. The transaction closed on November 1st and I’m thrilled to welcome the colleagues from this truly unique leisure platform into the Hyatt family. This acquisition significantly expands our leisure offerings and positions Hyatt as a leader in the fast-growing luxury all-inclusive resort segment. We also advanced our capital strategy through the completion of our $1.5 billion asset disposition commitment during the quarter and we announced a new $2 billion commitment for additional asset sales by the end of 2024. Through the acquisition of Apple Leisure Group's asset light platform and expansion of our disposition commitment, we expect to transform our earnings to approximately 80% fee-based by year end 2024.

Tatiana Rokou

Tatiana is the news coordinator for TravelDailyNews Media Network (, and Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.

She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.