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Hyatt plans to buy Apple Leisure Group from KKR and KSL Capital for $ 2.7 billion

Hyatt Hotels Corporation plans to acquire resort firm Apple Leisure Group from private equity owners for $ 2.7 billion, including debt, people familiar with the matter said.

KKR & Co. And Travel & Leisure Specialist KSL Capital Partners LLC’s contract with the company may be announced on Monday.

The deal is the latest sign of optimism about returning to vacation, despite the US economy continuing to tackle the coronavirus pandemic. Like many travel companies, Apple Leisure’s business was disrupted last year by virus-related blockades and travel bans, but has recovered as restrictions have been relaxed.

For Hyatt, based in Chicago, one of the world’s largest hospitality companies, the deal has already significantly strengthened its resort management portfolio and is the largest charter and vacation package in the United States for travel to Mexico, the Dominican Republic and Jamaica. Become one of the providers of. And the Caribbean Sea.

It will also accelerate Hyatt’s transformation into a less asset-rich business model focused on creating a steady and predictable continuous flow of rates.

Hyatt plans to buy Apple Leisure Group from KKR and KSL Capital for $ 2.7 billion

Source link Hyatt plans to buy Apple Leisure Group from KKR and KSL Capital for $ 2.7 billion

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