Hyatt closes Apple Leisure Group acquisition

Hyatt Hotels Corp. finalized its takeover of Apple Leisure Group from affiliates of KKR & Co. Inc. and KSL Capital Partners LLC.

The deal added Apple Leisure's AMR Collection brand portfolio to Hyatt's global resorts footprint. The acquisition brought properties in 11 new European markets into Hyatt's portfolio and increased the hotel giant's European brand footprint by 60%.

Apple Leisure President and CEO Alejandro Reynal, along with the current management team, will continue to lead the luxury resort-management services, travel and hospitality group. Reynal also joined Hyatt's executive leadership team.

BDT & Co. LLC and J.P. Morgan were financial advisers, while Latham & Watkins LLP was legal adviser to Hyatt. PJT Partners was financial adviser and Simpson Thacher & Bartlett LLP was legal adviser to Apple Leisure in the transaction.