Despite the COVID-19 pandemic continuing into the latter half of this year, many are optimistic that travel and vacation will soon return to their pre-pandemic levels. With this in mind, Hyatt Hotels Corp. intends to purchase the resort company Apple Leisure Group for $2.7 billion.
Apple Leisure Group took a hit from travel restrictions and lockdowns during the height of the COVID-19 pandemic but since then has been able to rebound. Hyatt is prepared to capitalize on the recent surge of vacations and by acquiring Apple Leisure Group the company would become one of the largest U.S. providers of vacation packages to Mexico, Jamaica, the Caribbean, and the Dominican Republic.
Source: Wall Street Journal