Mexico City, Aug. 19 (EFE) .- Hyatt Hotels Corporation’s deal to purchase resort company Apple Leisure Group (ALG) for $ 2.7 billion is a clear indication that the attractiveness of luxury travel destinations in Mexico and the Caribbean is on the rise.
“The sale to Hyatt confirms our strategy for the five-star all-inclusive luxury sector with all security protocols and a very special experience,” Alejandro Reynal, CEO of ALG, told Efe on Thursday.
Hyatt and ALG sealed the purchase deal over the weekend and plan to close the deal in the last quarter of this year. ALG will maintain all of its brands and operations independently of Hyatt.
Reynal will continue as CEO of ALG and will report directly to Hyatt CEO Mark Hoplamazian.
“Our growth potential is multiplied by our integration into Hyatt, which opens up new opportunities for us to accelerate our growth in Latin America, the Mediterranean, the Middle East and Asia,” said Reynal.
“We will continue to invest in the region (Latin America and the Caribbean) and now with much greater capacity for development having everything Hyatt stands for,” said the CEO of ALG.
Apple Leisure Group is a leading luxury hotel, travel and resort management services group with over 33,000 rooms in 10 countries, which also includes its recent expansion into Spain and Greece.
Since 2007, ALG has grown from managing 9 complexes to nearly 100 properties by the end of 2021, as well as a portfolio of 24 transactions completed as part of its expansion process.
THE PANDEMIC STRENGTHENS THE STRATEGY
Reynal assured that the pandemic has reinforced its strategic vision of hotels with large open facilities, with all-inclusive luxury resorts “in which the customer is looking for a great experience and to be well looked after in a safe environment”.
He said he expects a full recovery in this holiday industry in 2022, while business hotel services will take time to recover due to a change in business habits.
“The tourist destinations of the Caribbean and Mexico (in particular Cancun, Los Cabos and Puerto Vallarta) are strengthened for the North American tourist who seeks the vacation experience offered by our quality hotels, safety and the unique experience” , said Reynal.
Going back to the figures before the pandemic, Reynal specifies that there are two key elements: consumer confidence to travel and a reduction in the barriers that now prevent more trips.
“For our part, we will continue to apply all health protocols to ensure the safety of our customers as many of these protocols are here to stay,” he said.
ALG operates with a number of brands such as Secrets Resorts & Spa, Dreams Resorts & Spas, Breathless Resorts & Spas and Zoëtry Wellness & Spa Resorts, as well as the rapidly growing Alua Hotels & Resorts brand, which is expanding into destinations European leisure activities.
The Hyatt purchase also includes the 110,000-member Unlimited Vacation Club, which manages ALG Vacations’ travel distribution business and technology asset and travel destination management services.
Hyatt CEO Hoplamazian noted that “the addition of ALG properties will immediately double Hyatt’s global presence in resorts.”
“ALG’s portfolio of luxury brands, leadership in the all-inclusive segment and broad portfolio of new resorts will expand our reach into new and existing markets, including Europe, and further accelerate the net growth of our rooms. , which dominates the sector, ”he said.
With the purchase of ALG, Hyatt will have the largest portfolio of all-inclusive luxury resorts in the world, double its global resort presence, be the largest operator of luxury hotels in Mexico and the Caribbean, and expand its European presence of 60%. EFE
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