‘The Beginning of ALG’s Next Chapter’: Hyatt Completes $2.7 Billion Acquisition
byDaniel McCarthy/
Hyatt Hotels Corporation on Tuesday announced that its $2.7 billion deal to acquire Apple Leisure Group (ALG) is officially complete.
The deal, which was first announced its plans in 2019, doubles Hyatt’s resort footprint, adding another 100 hotels and resorts operating in 10 countries along with a pipeline of 24 executed deals in Europe and the Americas. With the deal, Hyatt will enter 11 new European markets, including Spain, Canary Islands, Balearic Islands, and Greece.
ALG首席执行官兼总裁Alejandro Reynal说:“今天是ALG下一章的开始,我们将继续以我们通过豪华旅行品牌和服务(现在是Hyatt的一部分)建立的强大忠诚度和声誉为基础。”“我们坚信,我们可以共同实现更多的成就,并为包括我们的ALG团队成员在内的扩展家庭的机会感到兴奋,他们很高兴加入一个更大的全球组织。”
While there are still more details to come, Hyatt on Tuesday said that Reynal and the current ALG leadership team will remain in place, operating as a distinct business unit within Hyatt, with Reynal joining Hyatt’s executive board.
“Hyatt and ALG have highly complementary brand portfolios and share a deep commitment to colleagues and guest experiences focused on care,” Hyatt president and CEO Mark Hoplamazian said. “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.”
Hyatt also said that it does plan to integrate AMR Collection into World of Hyatt sometime next year, allowing members to earn and redeem Hyatt points at AMR Collection properties. The company also said it is still determining how to integrate ALG’s Unlimited Vacation Club program into World of Hyatt.
Speaking at ALGV’s Ascend Conference last month, ALGV Group President Ray Snisky said that the deal wasa testament to just how big of a segment the all-inclusive space has become。
“Right now, there is an arms race going on in the big box hotels and many of them have slept at the wheel for a long time and looked down at the all-inclusive space,” he said. “That product has just gotten better and better.”
Snisky said he has had five meetings with the CEO of Hyatt, Mark Hoplamazian, who had previously said that the deal represents a large investment ina leisure travel space that Hyatt continues to be bullish on。斯尼斯基说,这些会议使他“受到启发”,因为“他尊重我们所取得的成就的很多。”