Hotel giant Hyatt will spend $2.7 billion in cash on acquiring Apple Leisure Group from its private equity ownership.
Apple Leisure Group is a major seller of tickets, packages and hotels across multiple brands.
Hyatt’s move comes in a bid to become the largest operator of all-inclusive resorts worldwide and expand its luxury hotel footprint in Europe by 60%, as well as becoming the biggest brand in the space in Mexico and the Caribbean.
Included in the deal are all of ALG’s subsidiaries, including the Trisept Solutions travel technology wing that provides tools for leisure travel operators.
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Distribution brands in the deal for Hyatt include Apple Vacations, Funjet Vacations and Travel Impressions, as well as the packaging services provided to airlines such as United and Southwest.
The structure of the deal will be made in part via a $1…