Hyatt completes acquisition of Apple Leisure Group, creating global leader in leisure and luxury all-inclusive travel

Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has completed the previously announced acquisition of Apple Leisure Group® (ALG), a leading luxury resort-management services, travel and hospitality group, from affiliates of each of KKR and KSL Capital Partners, LLC.

Hyatt is doubling its global resorts footprint through the addition of ALG’s AMR™ Collection brand portfolio, which comprises approximately 100 hotels and resorts operating in 10 countries, as well as a pipeline of 24 executed deals in the Americas and Europe. As a result, Hyatt now offers one of the largest collections of luxury all-inclusive resorts in the world, including new destinations for Hyatt such as Acapulco, Curaçao, the Canary Islands, Menorca and St. Martin. Through this acquisition, Hyatt has added properties in 11 new European markets and expanded its European brand footprint by 60%, strengthening Hyatt’s growth potential in a critical region for global leisure travel demand.

In addition, Hyatt is offering even more options and experiences for its high-end guest and customer base and enhancing the end-to-end leisure travel experience through:

• Unlimited Vacation Club® by AMR™ Collection, an exclusive membership club whose members enjoy preferred rates and other benefits at participating AMR™ Collection properties

• ALG Vacations®, one of the largest packaged vacation providers and leisure travel distribution platforms in North America serving the United States, Mexico and the Caribbean

• Amstar, a leading destination services management company

• Trisept Solutions®, a unique leisure travel technology platform

Hyatt is determining ways in which the World of Hyatt® loyalty program and ALG’s Unlimited Vacation Club® can bring added value and unique loyalty benefits to their respective member bases. Hyatt plans to integrate the AMR™ Collection into World of Hyatt in 2022 so that members can earn and redeem World of Hyatt points at more than 100 AMR™ Collection hotels and resorts.

“Hyatt’s acquisition of ALG represents a brand-defining moment in our more than 60-year history and builds on our legacy as a hospitality leader,” said Mark Hoplamazian, president and chief executive officer, Hyatt. “Hyatt and ALG have highly complementary brand portfolios and share a deep commitment to colleague and guest experiences focused on care. Having first entered the fast-growing luxury all-inclusive space in 2013, we are ideally positioned to capture the significant and rising demand for leisure travel and extend the world-class hospitality we provide to a wide range of new travelers. We are excited to welcome the ALG team to the Hyatt family, and look forward to working together to achieve new levels of growth and value creation for all stakeholders – including our shareholders, owners, customers, guests, members and colleagues.”

“Today marks the beginning of ALG’s next chapter, in which we will continue to build on the strong loyalty and reputation we have established through our luxury travel brands and services, now as part of Hyatt,” said Alejandro Reynal, chief executive officer and president, Apple Leisure Group. “We strongly believe we can achieve more together and are excited by the opportunities ahead for our expanded family, including our ALG team members, who are excited to join a larger global organization. With Hyatt’s added expertise, we expect to accelerate our expansion as we welcome more travelers and turn vacation dreams into life-long memories.”

ALG’s business will continue to be led by Alejandro Reynal and the current ALG leadership team. ALG will operate as a distinct business unit within Hyatt. Mr. Reynal has joined Hyatt’s executive leadership team and reports to Mr. Hoplamazian.

In September of 2021, Hyatt fulfilled its asset disposition commitment announced in 2019 of $1.5 billion resulting in a total of more than $3 billion of proceeds realized since its asset-disposition strategy was launched in 2017, at a combined multiple of over 17x EBITDA. Hyatt also reaffirms its commitment to generate an additional $2 billion in proceeds from asset dispositions by the end of 2024.

Advisors

In connection with the transaction, BDT & Company, LLC and J.P. Morgan served as financial advisors to Hyatt, and Latham & Watkins LLP acted as its legal advisor. PJT Partners served as financial advisor to ALG, and Simpson Thacher & Bartlett LLP acted as its legal advisor. Credit Suisse and Deutsche Bank Securities Inc. served as financial advisors to KKR and KSL Capital Partners.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 20 premier brands. As of June 30, 2021, the Company’s portfolio included more than 1,000 hotel and all-inclusive properties in 68 countries across six continents. The Company’s purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company’s subsidiaries operate, manage, franchise, own, lease, develop, license, or provide services to hotels, resorts, branded residences, and vacation ownership properties, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, tommie™, UrCove, and Hyatt Residence Club® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.

About Apple Leisure Group®

Apple Leisure Group® (ALG) is a leading North American resort brand-management, leisure travel and hospitality group with a unique business model serving travelers and destinations worldwide. ALG, through its group of affiliated companies, consistently delivers exceptional value to travelers and strong performance to resort owners and partners by strategically leveraging its portfolio of brands including: AMResorts LP, or one or more of its affiliates which collectively provide sales, marketing, and brand management services to resort and hotel brands under the AMR™ Collection including 5-star and 4-star luxury award-winning brands including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas; ALG Vacations®, one of the largest sellers of vacation packages and charter flights in the U.S. for travel to Mexico and the Caribbean, with well-established brands: Apple Vacations®, Funjet Vacations®, Travel Impressions®, CheapCaribbean.com®, BeachBound®, Blue Sky Tours®, Southwest Vacations®, and United Vacations®; the exclusive membership program Unlimited Vacation Club®; best-in-class destination management services provided by Amstar DMC; and the innovative technology solutions provider Trisept Solutions®, connecting over 88,000 travel agents with leading travel suppliers. To learn more about the Apple Leisure Group® advantage, visit www.appleleisuregroup.com.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the Company’s acquisition of Apple Leisure Group®, including expected financial and operational benefits resulting from the acquisition, guest and owner advantages arising from the acquisition, the amount and timing of future asset dispositions and projected sales multiples of such asset dispositions, the expected growth of global luxury travel and the Company’s system-wide leisure room revenue mix, the projected future fee based earnings of the combined company, expected benefits and added value from the World of Hyatt loyalty program and Apple Leisure Group’s membership offering, the Company’s plans, strategies, outlook, financial performance, projections, financing proposals, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, risks associated with the consummation of the acquisition of Apple Leisure Group®, including the related incurrence of material additional indebtedness; the Company’s ability to successfully integrate Apple Leisure Group’s employees and operations into the Company; the ability to realize the anticipated benefits and synergies of the acquisition of Apple Leisure Group® as rapidly or to the extent anticipated; the duration of the COVID-19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants; the short and longer-term effects of the COVID-19 pandemic, including the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the broad distribution and efficacy of COVID-19 vaccines and wide acceptance by the general population of such vaccines; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and all-inclusive segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, such as the COVID-19 pandemic, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Apple Leisure Group’s membership offering; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business; and other risks discussed in the Company’s filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Source: Antara News

BNPT strengthens cooperation with UEA in countering terrorism

Head of the National Counter-Terrorism Agency (BNPT), Police Commissioner-General Boy Rafli Amar, met with the Indonesian Ambassador to the United Arab Emirates, Husin Bagis, to strengthen counter-terrorism cooperation with the UAE.

“We hope that this collaboration will be able to support the realization of a life filled with the spirit of tolerance among religious communities just like what we have seen in the UAE,” Amar remarked.

The BNPT and the UAE have agreed to share information on terrorism prevention and countermeasures at the national, regional, and global levels, he informed. The cooperation would be continued and strengthened in a joint effort to realize a peaceful world filled with the spirit of tolerance, he added.

According to Amar, tolerance among people in the UAE is an example for Indonesians to not be easily led by radical views or terrorism.

The BNPT head also said that if ulemas in Indonesia could learn to preach from ulemas in the UAE, there would be no more hate speech to be found in da’wah media.

“We see that the activities we need to explore are activities related to countering radicalism, especially the existence of imams or ulemas who were sent to gain or expand knowledge,” he said.

The BNPT head affirmed that he will continue to promote religious moderation and counter provocative narratives to ensure a peaceful life for Indonesians by using what has been built in the Arabian peninsula, especially in the UAE, as an example.

During their meeting, Amar and Bagis discussed efforts to strengthen cooperation under a Memorandum of Understanding (MoU) on countering terrorism.

Source: Antara News

Surabaya street gets murals to draw tourists

The Surabaya city government has been beautifying the iconic Tunjungan Street, Surabaya, East Java, with murals related to the coronavirus health protocols.

Through the effort, Surabaya Mayor Eri Cahyadi said he wants to turn Tunjungan Street into a tourist area to drive the community’s economy.

“After Surabaya entered Level 1 PPKM (public activity restrictions) , it is about time we upgrade the Surabaya MSMEs (micro, small, and medium enterprises),” Cahyadi remarked in Surabaya on Monday.

Economic recovery efforts are being bolstered by the Surabaya government not merely through the implementation of the Surabaya Fashion Week (SFW) 2021, he said.

In the near future, the government is also planning to revive Tunjungan Street as a tourist spot, he informed.

“Insya Allah (God willing), there will be launching for Tunjungan Street. I will ask for the help of all entrepreneurs in the city to wear Surabaya Batik to walk on Tunjungan Street with the mayor and the Regional Leadership Communication Forum (Forkopimda),” he remarked.

Furthermore, he said he is optimistic that with the spirit of collaboration and togetherness among stakeholders, communities, and Forkopimda, Surabaya will become a greater city in the future.

Earlier, Deputy Mayor of Surabaya, Armuji, had reviewed Tunjungan Street on Sunday night to ensure the design of the historic area was in accordance with the instructions of Mayor Cahyadi.

“I hope that Tunjungan Street becomes the icon of economic recovery in Surabaya. The tourist area will be designed exceptionally. If Bandung has Braga, Yogya has Malioboro, then Surabaya has Tunjungan,” Armuji pointed out.

As part of his review, Armuji observed the mural arts initiated by the Disaster Mitigation and Community Protection Agency (BPB Linmas) of Surabaya city.

He also showed examples of three-dimensional murals to mural artists for inspiration.

“The COVID-19 case numbers in Surabaya can be suppressed. The economic growth can slowly recover. Thus, I ask people to comply with health protocols and the government advice,” he said.

Source: Antara News

Dozens of Kupang mural artists join Bhayangkara Mural Festival 2021

A total of 22 mural artists participated in the mural competition at the 70th Anniversary of Police Public Relations held by the East Nusa Tenggara (NTT) Police Public Relations in Kupang City.

“In NTT, 22 artists participated. One of them represented NTT at the Police Headquarters in Jakarta,” NTT Police Chief Inspector General Lotharia Latif noted here on Saturday.

The statement was delivered in connection with the implementation of “Bhayangkara Mural Festival 2021.” Latif stated that the implementation of the mural competition was a great event wherein mural artists can showcase their creative ideas through their artwork for public viewing.

“Earlier, the National Police chief had noted that any idea can be turned into art, and even criticism could be depicted in a mural,” he stated.

Latif believes that mural paintings can beautify slum areas. The existence of mural artists and their arts can certainly offer educational value for the community visiting the location of the mural art.

Furthermore, youngest among the mural artists was one still studying in junior high school.

“Since an early age, he has started to channel his ideas and creativity into this activity,” Latif remarked.

As Antara reported, the implementation of this year’s Mural Festival Competition by the National Police Public Relations became an attraction for people, who visited the site. For implementation of the competition, the NTT Police collaborated with the Lippo Plaza shopping center to provide empty walls to be painted on.

Also, Latif has affirmed that his team is not anti-criticism, as criticism is a tool for self-improvement.

Not only in NTT, but the competition was also held across the country by the National Police.

Some 803 artists across Indonesia participated in the Bhayangkara Mural Festival 2021, National Police Public Relations Head Inspector General Argo Yuwono stated.

Yuwono said the mural artists’ mindset revolution and activities have showcased the point of view outside his circles.

Source: Antara News

Ministry reports increased wildlife sightings in national parks

There has been an increase in wildlife sightings in several national parks in Indonesia amid the coronavirus pandemic, the Ministry of Environment and Forestry has said.

While the COVID-19 pandemic has led to a halt in tourism activities, it has led to an increase in wildlife sightings, the ministry’s director general of conservation of natural resources and ecosystems, Wiratno, said in Malang district, East Java on Friday.

“The number of tourists has been declining. In many national parks, many interesting wild animals arise. They usually do not show up, but now they can be seen,” he explained.

Increased sightings have been reported in Baluran National Park in Situbondo district, Meru Betiri National Park in Jember district, and Banyuwangi district, he informed.

Thousands of deer, several bulls, and leopards can now be spotted in Baluran National Park, he said. Their re-appearance has even been recorded on camera, he added.

“In Baluran, there are many deer on the paths that were usually taken by tourists. There are also bulls and leopards. It is interesting as they have been captured on camera,” Wiratno remarked.

More wild animals, noticeably leopards, are being spotted in protected forest zones in Indonesia as well, he said.

The leopard sightings are an indication that existing fauna are still safe, he added.

According to him, the pandemic has signified that nature needs time to rest. With fewer visits from tourists, animals can breed quietly, he noted.

Learning from the experience, tourist visits to national parks must be properly managed so they do not interfere with the preservation of nature, including flora and fauna, he added.

“The visits must be regulated so that animals can live well,” he affirmed.

Furthermore, the Ministry of Environment and Forestry has been discussing the plan for opening a Javan hawk-eagle rehabilitation center with the Malang district government.

The Bromo Tengger Semeru National Park (TNBTS), which is a part of the Malang district, is one of the areas suitable for the rehabilitation center, Malang deputy district head Didik Gatot Subroto said.

Source: Antara News

VP opens Indonesia Sharia Economic Festival 2021

Vice President Ma’ruf Amin opened the Eighth Indonesia Sharia Economic Festival (ISEF) 2021, which is being held in both online and offline formats, from the Vice Presidential Palace in Jakarta on Wednesday.

Amin lauded the festival, which is aimed at developing the sharia economy and finance despite the COVID-19 pandemic.

“The holding of the 8th ISEF proves that the COVID-19 pandemic does not discourage our spirit and optimism to continue to develop sharia economy and finance in Indonesia,” he said.

As part of efforts to push national economic growth, it is hoped that various institutions related to the development of the sharia economy will increasingly play their role, the Vice President said.

The holding of the 8th ISEF 2021, themed Magnifying Halal Industries Through Food and Fashion Markets for Economic Recovery, is in keeping with the ideals of the Indonesian people to advance sharia economy and finance, he added.

“This theme is quite proper and in keeping with the ideals, expectations, and opportunities for Indonesia to become a bigger nation through sharia economy and finance,” he said.

Amin, who is also the executive chairman of the National Committee for Sharia Economy and Finance (KNEKS), said ISEF supports several programs related to the development of the sharia economy.

To that end, he said he expected ISEF to continue contributing to the development of the sharia economy and finance in Indonesia.

“May ISEF run well and smoothly so it gives the greatest possible advantage to common progress,” he remarked.

Source: Antara News

FFI plays important role in Indonesian film development: official

The Indonesian Film Festival (FFI) plays an important role in Indonesian film development and showcasing the potential of filmmakers, director general of cultural affairs at the Ministry of Education, Culture, Research, and Technology has said.

Hilmar Farid lauded the 69 feature films submitted to the FFI committee saying they are proof that Indonesian filmmakers have continued to be productive despite the COVID-19 pandemic.

“The number even does not include non-feature films with the equal quantity that was submitted to the committee. This proves that Indonesian filmmakers are resilient as their production was not brought to a halt amidst the pandemic and they remain confident with their works,” he said at a press conference on Wednesday.

The director general opined that Indonesian filmmakers have recognized the importance of FFI after a tireless effort by the FFI committee to enhance the event’s prestige and branding.

“Filmmakers’ recognition of the FFI would not have been possible without the tireless effort made by the FFI committee to enhance the event’s prestige; their public relations and communication are also highly effective,” he said.

Farid reiterated the ministry’s commitment to reinvigorate the Indonesian film industry that has been affected by the COVID-19 pandemic.

“We will continue to work together as I believe despite this arduous time, we will rise again for the glory of Indonesia’s film industry in the future,” he remarked.

The Indonesian Film Festival’s Citra Awards have been scheduled for November 10, 2021. The event coincides with Heroes Day, as the organizing committee is striving to gather public support for the conferment of National Hero of Indonesia status for the pioneer of Indonesian cinema, Usmar Ismail, he informed.

Source: Antara News

Ministry organizes Indonesia Traditional Music Festival

The Education, Culture, Research, and Technology Ministry organizes the Indonesia Traditional Music Festival (FMTI) 2021 aimed at strengthening the ecosystem of Indonesia’s traditional music.

“The goal of this music festival is to spark the people’s love for the nation’s identity,” Education, Culture, Research, and Technology Minister Nadiem Anwar Makarim noted here on Tuesday.

The FMTI in Toba Lake starts from August 21, 2021, until the event’s climax on October 26, 2021. It is held at three locations that became Super Priority Destinations as per President Joko Widodo’s directive, he stated.

These three locations are Toba Lake in North Sumatra, Labuan Bajo in East Nusa Tenggara, and Tidore in North Maluku, with the theme of “Sacred Music,” he clarified.

This traditional music festival becomes the ministry’s contribution to developing the ecosystem of traditional music and building the younger generation’s love for their cultural identity, Makarim added.

“Traditional music is part of our identity that we should always develop, so that our future generation would not forget its cultural roots,” he affirmed.

He deemed that the spirit of enthusiasts in developing their respective regions’ traditional music will support efforts to advance Indonesia’s culture.

FMTI in Toba Lake has selected 12 Toba traditional music composers that will actualize their works in the form of a video clip, online festival, and music recording to be streamed on the digital platform.

The FMTI in Toba Lake starts from August 21, 2021, until the event’s climax on October 26, 2021.

In addition, FMTI in Labuan Bajo has only begun its selection for the top 10 East Nusa Tenggara composers, whose works will be arranged and recorded in the form of a video documentary and song.

They will also attend the “Flabomora Sound Party” music festival and seminar. The Labuan Bajo FMTI 2021 will begin on October 19, 2021, and will be held until November 14, 2021.

Meanwhile, FMTI in Tidore Island will be held in November 2021 in the form of a traditional music show in four of North Maluku’s sultanates that will also be recorded.

According to the Ministry’s Culture Director General Hilmar Farid, despite the fact that the event is held at three different locations, FMTI is still a symphony that enlivens the spirit of Indonesia’s traditional music.

Beyond protecting and developing traditional art, the support for traditional music is expected to be able to build cultural narration and tourism for Indonesia’s priority destinations, he affirmed.

“By collaborating with various cultural organizations and the community, we also want to improve the capacity of human resources in the traditional sector where the FMTI is held,” Farid remarked.

Source: Antara News