Hyatt Floods Into Europe as $2.7 Billion Apple Leisure Deal Closes
Photo Credit: Hyatt's Apple Leisure Group takeover includes the Secrets Mallorca Villamil Resort & Spa (pictured). Hyatt
Skift Take
Hyatt’s focus on European growth instead of Asia looks like a smart call in light of the erratic recovery in China, where many of Hyatt’s competitors have focused their development pipelines.
Hyatt will have a hefty growth story to tell later this week on its third quarter earnings call.
The Chicago-based hotel company closed Tuesday on a $2.7 billion acquisition of Apple Leisure Group. The takeover doubles Hyatt’s global resorts portfolio and provides the company with its sought-after expansion into Europe.
The deal also gives Hyatt a boost in its push into all-inclusive resorts, which has been underway since 2013.
