Hyatt signs agreement to acquire Apple Leisure Group

Hyatt  has entered into a definitive agreement to acquire 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 for $2.7 billion in cash. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions.  Mark Hoplamazian, President and Chief Executive Officer, Hyatt, said, “The addition of ALG’s properties will immediately double Hyatt’s global resorts footprint.”