Hyatt to Double Its International Resorts With $2.7 Billion Apple Leisure Group Purchase

By Lauren Zumbach From Chicago Tribune CHICAGO—Hyatt is buying resort company Apple Leisure Group for $2.7 billion in a bet that luxury leisure travel will continue to recover from the COVID-19 pandemic. “We are very bullish on leisure travel. It’s proven its resiliency and durability,” Hyatt CEO Mark Hoplamazian said during a webcast with investors Monday morning. Chicago-based hotel company Hyatt will acquire Apple Leisure Group’s resort management company, AMResorts, which expects to have more than 33,000 rooms at 102 hotels by the end of the year, under brands including Secrets, Dreams, Breathless, and Zoetry. None of AMResorts’ hotels are in the United States, and Hyatt said the deal will double its global network of resorts and expand its presence in international destinations like Europe, where it will increase Hyatt’s footprint by 60 percent. While more than half of AMResorts’ resorts are in Mexico and the Caribbean, there are 40 …

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