Hyatt is betting on luxury travel with $2.7 billion resorts deal
CNN
Hyatt is expanding its reach in luxury resorts, betting that pent-up demand following the pandemic will boost demand for upmarket leisure travel.
The US hotel group said in a statement Sunday that it has agreed to buy luxury resorts operator Apple Leisure Group from private equity firms KKR and KSL Capital Partners for $2.7 billion. The acquisition will double Hyatt's global resorts footprint and make it the largest operator of luxury hotels in Mexico and the Caribbean. It will also extend its presence into 11 new markets in Europe, "a critical region for global growth in leisure travel," Hyatt (H) said.More Related News
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