Hyatt’s $2.7 Billion Apple Leisure Group Acquisition Fuels European Growth
Skift Take
Hyatt's Apple Leisure Group acquisition gives it a major boost in its desired expansion into Europe. But it is also a shot across the bow to competitors like Marriott and Hilton as well as smaller brands. The battle is on to expand into the high-end leisure travel and all-inclusive resort sector.
Early Check-In
Editor’s Note: Skift Senior Hospitality Editor Sean O’Neill brings readers exclusive reporting and insights into hotel deals and development, and how those trends are making an impact across the travel industry.
It didn’t take long for Hyatt to move ahead with a planned expansion into Europe.
The Chicago-based hotel company announced Sunday night plans to buy Apple Leisure Group for $2.7 billion. The acquisition of the company behind resort brands like Dreams, Secrets, and Zoëtry expands Hyatt’s brand footprint into 11 new European markets and doubles the company’s global resort footprint.
Hyatt’s overall European footprint would also grow by 60 percent with the deal. Roughly 100 existing hotels and a 24-property development pipeline across Europe and the Americas are included in the deal.
The move is the latest chapter in Hyatt’s ongoing initiative to become increasingly asset light and own less of its hotel real estate. ALG is a resort management services, travel, and hospitality group — the kind of business Hyatt is trying to be in its push away from real estate ownership.
Hyatt is underway with a plan to sell off $1.5 billion of its owned hotels, and the company announced
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