Apple Leisure Group has signed an agreement to purchase a majority share in Spain's Alua Hotels & Resorts. Following the deal’s closing, the three-year-old hotel chain will be integrated into ALG's European division.
The transaction is expected to 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 help generate additional growth. 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 internationally.
“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 ALG, in a statement. “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 manage more than 4,000 rooms in Spain. 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.
“With this agreement, we take another step in our international growth strategy,” said Javier Coll, EVP and chief strategy officer of ALG, who is responsible for the company’s business operations in Europe. “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.”
