Apple Leisure Group has agreed to purchase a majority stake in Alua Hotels & Resorts, which was founded in 2015 and has 14 resorts. No price tag was announced, but Alua’s CEO Javier Águila will assume the role of president, Europe, for Apple.
NEWTOWN SQUARE, Pennsylvania, December 19, 2018 -- Apple Leisure Group (ALG) today announced the signing of an agreement to purchase a majority share in Alua Hotels & Resorts. Following the deal's closing, the Spanish hotel chain, which was founded in 2015 and whose growth has been one of the fastest in the market over the past few years, will be integrated into ALG's European division.
The transaction will provide ALG with the structure and capacity to manage hotel properties in Europe, and when combined with the strategic agreements the group has already signed, will translate into opportunities for additional growth. Likewise, and following its integration into ALG, Alua will become the American group's hotel brand of reference for the mid-market sector, both in Europe and globally.
"The addition of Alua Hotels & Resorts to Apple Leisure Group's portfolio is a true testament to our strong commitment to growing our company footprint in Spain," said Alex Zozaya, CEO of Apple Leisure Group. "This acquisition is just the beginning of ALG's European expansion plans and future contributions to the market's burgeoning tourism sector."
Under the agreement, ALG will now manage more than 4,000 rooms in Spain: a solid example of its resolute bet on growth in the European market. Thanks to this new contract and to its prior strategic agreements, ALG European division's strategic plan is aimed primarily at establishing a strong presence in highly popular tourist destinations across the Mediterranean.
Javier Águila, CEO of Alua Hotels & Resorts, will assume the role of President of Apple Leisure Group Europe and will join the Executive Committee of the U.S. based parent company, while Jordi de las Moras will continue as Managing Director of the European division.
Javier Coll, Executive Vice President and Chief Strategy Officer of Apple Leisure Group, who is responsible for the company's business operations in Europe, said: "With this agreement, we take another step in our international growth strategy. Acquiring Alua Hotels & Resorts allows us to expand on the strategic agreement that we already have with Hesperia by giving us the ability to offer not only sales and branding services, but also operations management to both owners and investors, as we already do in the Americas. At the same time, we are adding a brand in a strategic segment for us, which we will work to grow in both the Americas and Europe."
In turn, Javier Águila stated that "this transaction represents the best possible close to Alua's first chapter, and recognizes the excellent work done by our team, who have been a part of this journey since the brand was just an idea. We are tremendously enthusiastic about the opportunity to be part of a leading group in the sector, such as Apple Leisure Group, and become the platform to materialize their ambitious expansion plan in the European market. Without a doubt, the experience and leadership of ALG in the areas of distribution, brand development, and luxury resort brand management, together with the structure and work team of Alua, will give us a competitive advantage in reaching our strategic goals at both the national and global level."
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