Sponsored Listings:
Private-equity companies KSL Capital Partners and KKR have agreed to acquire Apple Leisure Group from Bain Capital for an undisclosed price.
The acquisition is expected to close in the first quarter of 2017.
Apple Leisure Group is the parent of wholesalers Apple Vacations, Travel Impressions and CheapCaribbean.com; all-inclusive resort operator AMResorts; and destination-management companies Amstar and Worldstar.
The buyout of Apple Leisure Group is further investment churn in the all-inclusive sector. On Tuesday, Playa Hotels & Resorts said it will become the first all-inclusive resort company to go public. AMResorts oversees nearly 60 resorts under six brands — Dreams, Sunscape, Secrets, Zoetry, Now and Breathless — throughout Mexico, South and Central America and the Caribbean.
The Apple Leisure Group deal is KSL Capital Partners’ second in the past month to increase its exposure to the warm-weather resort market. In November, KSL reached an agreement to acquire Honolulu-based Outrigger Hotels and Resorts.
KSL’s other travel investments include ski resort company Squaw Valley Alpine Meadows and the Monarch Beach Resort in Southern California.
Apple Leisure Group was founded as Apple Vacations in 1969.
Sourse: travelweekly.com
