Apple Leisure Group, Alua Hotels & Resorts Reach Deal

US-based Apple Leisure Group is expanding in Europe by taking a majority stake in Spanish chain Alua Hotels & Resorts.

The deal, for an undisclosed sum, will see ALG manage more than 4,000 rooms in Spain and Alua become its mid-market hotel brand globally.

The fast-growing hotel chain was founded in 2015 and manages 16 hotels in the Balearic and the Canary Islands, owned by institutional investors such as KKR, Blackstone and HI Partners. Alua will be integrated into ALG’s European division.

ALG claims to be the largest seller of holiday packages and charter flights in the US for travel to Mexico and the Caribbean, handling about 3.2 million passengers a year across multiple tour operator brands including Apple Vacations and Funway Holidays.

Source: Travel Weekly UK