M&A Deal Summary

Hyatt Acquires Apple Leisure Group

On August 15, 2021, Hyatt acquired leisure company Apple Leisure Group from KSL Capital Partners and KKR for 2.7B USD

Acquisition Highlights
  • This is Hyatt’s 5th transaction in the Leisure sector.
  • This is Hyatt’s largest (disclosed) transaction.
  • This is Hyatt’s 7th transaction in the United States.
  • This is Hyatt’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2021-08-15
Target Apple Leisure Group
Sector Leisure
Buyer(s) Hyatt
Sellers(s) KSL Capital Partners
KKR
Deal Type Add-on Acquisition
Deal Value 2.7B USD

Target

Apple Leisure Group

Newtown Square, Pennsylvania, United States
Apple Leisure Group is a vertically integrated travel and hospitality company focused on packaged travel and resort/brand management in Mexico and the Caribbean. Apple Leisure Group was founded in 1969 and is based in Newtown Square, Pennsylvania.

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Buyer(S) 1

Buyer

Hyatt

Chicago, Illinois, United States

Category Company
Founded 1957
Sector Leisure
Employees51,000
Revenue 6.7B USD (2023)
DESCRIPTION

Hyatt is a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, and other properties. Hyatt House hotels offer apartment-style suites with full kitchens, living areas, and more, including a 24-hour gym, and in-house laundry. Hyatt was founded in 1957 and is based in Chicago, Illinois.


DEAL STATS #
Overall 7 of 9
Sector (Leisure) 5 of 6
Type (Add-on Acquisition) 6 of 8
State (Pennsylvania) 1 of 1
Country (United States) 7 of 8
Year (2021) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-17 Ventana Big Sur

Big Sur, California, United States

Ventana Big Sur is a luxury coastal CA resort near Monterey, offers luxury accommodations and unique experiences along the dramatic California coastline's set among 160 sprawling acres of rolling meadows and towering redwoods, the intimate 59-room property is undergoing a multimillion-dollar resort-wide renovation. Ventana Big Sur was founded in 1975 and is based in Big Sur, California.

Buy $148M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-02 Dream Hotel Group

New York, New York, United States

Dream Hotel Group is a hotel brand and management platform acquisition, bringing a vibrant portfolio of lifestyle hotel brands – including Dream Hotels, The Chatwal and Unscripted Hotels. Dream Hotel Group was founded in 1986 and is based in New York.

Buy -

Seller(S) 2

SELLER

KSL Capital Partners

Denver, Colorado, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 18.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

KSL Capital Partners LLC is a specialist private equity firm that makes investments in travel and leisure businesses. Areas of interest include hospitality, recreation, clubs, real estate and travel services. KSL is a hands-on investor, with a strong interest in pursuing under-managed or under-capitalized businesses where the firm can unlock hidden value. KSL Capital Partners is the successor investment vehicle to KSL Recreation Corporation, a former portfolio company of KKR. KSL Capital Partners LLC was founded in 2005 and is based at Denver, Colorado with additional offices in New York, New York and London, United Kingdom.


DEAL STATS #
Overall 16 of 19
Sector (Leisure) 16 of 19
Type (Add-on Acquisition) 12 of 13
State (Pennsylvania) 1 of 1
Country (United States) 14 of 16
Year (2021) 2 of 4
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 Mission Hill Hospitality

Denver, Colorado, United States

Mission Hill Hospitality is a balanced portfolio of high quality, select service and extended stay hotels diversified by location, brand, and demand. Mission Hill Hospitality is a company created to invest in the select service and extended stay hotel sector, focuses on value-add and development projects that present significant opportunity given market and economic conditions. drivers. Mission Hill Hospitality was founded in 2019 and is based in Denver, Colarado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-23 Margaritaville Hollywood Beach Resort

Hollywood, Florida, United States

Margaritaville Hollywood Beach Resort is the flagship property to an internationally recognized brand synonymous with a casual-luxe lifestyle, is located on 6.2 oceanfront acres, along 450 linear feet of direct beach frontage, and is the focal point of the famous Hollywood Beach Broadwalk. Margaritaville Hollywood Beach Resort was founded in 2015 and is based in Hollywood, Florida.

Sell $270M
SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 166 of 204
Sector (Leisure) 1 of 2
Type (Add-on Acquisition) 57 of 66
State (Pennsylvania) 3 of 3
Country (United States) 72 of 89
Year (2021) 15 of 21
Size (of disclosed) 15 of 38
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-22 Sol Systems

Washington, District of Columbia, United States

Sol Systems combines renewable energy development, delivery, asset management, and environmental commodity management into one unique infrastructure and impact offering. Sol Systems was formed in 2008 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-24 Arbor Pharmaceuticals

Atlanta, Georgia, United States

Arbor Pharmaceuticals is a specialty pharmaceutical company with a diversified portfolio of branded products across multiple therapeutic areas for the cardiovascular, pediatric, and hospital markets as well as generic products through its Wilshire division. Arbor Pharmaceuticals is based in Atlanta, Georgia.

Sell -