Apple Leisure Group manages the largest portfolio of luxury all-inclusive resorts in the Americas — including brands such as Zoëtry and Secrets Resorts & Spas — as well as Alua Hotels & Resorts, which is expanding in Europe.
The company’s hotel portfolio has grown from nine resorts in 2007 to about 100 properties and 33,000 rooms in 10 countries, with a large number of additional hotels in development.
Hyatt CEO Mark Hoplamazian said the deal would help “transform” the hotel group’s earnings profile.
The company aims to generate 80% of its revenue from management fees, as opposed to owning hotels, by the end of 2024. It expects to sell $3.5 billion of hotel real estate over the next three years, including $1.5 billion of properties this year.
“[Apple Leisure Group’s] portfolio of luxury brands, leadership in the all-inclusive segment and large pipeline of new resorts will extend our reach in existing and new markets, including in Europe,” Hoplamazian said.