Hyatt to buy Apple Leisure Group from KKR and KSL Capital for $2.7 billion

© Reuters. FILE PHOTO: The exterior of the Grand Hyatt hotel is pictured during the dusk, following the coronavirus disease (COVID-19) outbreak, in Jakarta, Indonesia, June 25, 2020. Picture taken June 25, 2020. REUTERS/Willy Kurniawan

(Reuters) – U.S. hotel operator Hyatt Hotels (NYSE:) Corp plans to buy resort company Apple (NASDAQ:) Leisure Group from its private-equity owner KKR & Co (NYSE:) and travel-and-leisure specialist KSL Capital Partners LLC for $2.7 billion including any debt, the Wall Street Journal reported https://on.wsj.com/3yUKVFe on Sunday.

The deal is expected to be announced on Monday, the report said, citing people familiar with the matter.

Hyatt Hotels and Apple Leisure, KKR and KSL did not immediately respond to Reuters’ requests for comment.

In 2017, KKR and KSL bought the Pennsylvania-based resort operator from Bain Capital for an undisclosed price.

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