In line with its expansion plans for Europe, Apple Leisure Group has inked an agreement to acquire Alua Hotels & Resorts in Spain.
Apple Leisure Group has inked an agreement to acquire a majority share in Alua Hotels & Resorts. Founded in 2015, it has seen substantial growth in the past few years. At closing, the Spanish hospitality chain will be integrated into the company’s European division.
The transaction hands the group the structure and capacity to manage properties in said region. The deal translates to opportunities for expansion. Alua will become the American group’s hotel brand of reference for the mid-market sector both in Europe and worldwide.
Per the contract, Apple Leisure Group will manage more than 4,000 rooms in Spain. The European division of the group can proceed with its plan to establish a strong presence in hugely popular destinations across the Mediterranean. Alua CEO, Javier Águila, will lead.
He assumes the role of President of ALG Europe and joins the US-based hotel company’s executive committee. Meanwhile, Jordi de las Moras will continue on Managing Director of the European division of Apple Leisure Group.
“The addition of Alua Hotels & Resorts is a true testament to our growing footprint in Spain. This acquisition is the beginning of our expansion plans for Europe and future contributions to the market’s burgeoning tourism sector,” said Alex Zozaya, CEO of Apple Leisure Group.