Hyatt plans to buy resort company Apple Leisure Group from its private-equity owners for $2.7 billion including any debt, the latest sign of optimism about a return to vacation travel
Like many travel-related companies, Apple Leisure’s business got clobbered by virus-related lockdowns and travel bans last year, but it has rebounded as restrictions have loosened.
For Chicago-based Hyatt, one of the world’s biggest hospitality companies, the deal would bolster its already considerable resort-management portfolio and give it one of the biggest U.S. providers of charter flights and vacation packages for travel to Mexico, the Dominican Republic, Jamaica and the Caribbean.
It also would accelerate Hyatt’s transformation, long under way, to a more asset-light business model, focusing on generating an ongoing stream of steady and predictable fees.
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