ALG to Acquire Stake in Alua
Deal allows Apple Leisure Group to manage 4,000 rooms in Spain
Pennsylvania-based Apple Leisure Group (ALG) has signed an agreement to buy a majority share of Spain's Alua Hotels & Resorts to be integrated into ALG’s European division.
The deal will provide ALG with the structure and capacity to manage hotel properties in Europe. Combined with the strategic agreements already signed, ALG says it will afford opportunities for additional growth. The company will manage more than 4,000 rooms in Spain under the terms of the deal.
Likewise, and following its integration into ALG, Alua will become the American group’s hotel brand of reference for the mid-market sector, both in Europe and globally. The strategic plan of ALG's European division is aimed primarily at establishing a strong presence in highly popular tourist destinations across the Mediterranean.
“With this agreement, we take another step in our international growth strategy," says Javier Coll, executive vice president and chief strategy officer of ALG, who is responsible for the company’s business operations in Europe. "Acquiring Alua Hotels & Resorts allows us to expand on the strategic agreement that we already have with Hesperia by giving us the ability to offer not only sales and branding services, but also operations management to both owners and investors, as we already do in the Americas. At the same time, we're adding a brand in a strategic segment for us, which we will work to grow in both the Americas and Europe."
Javier Águila, ceo of Alua, will assume the role of president of Apple Leisure Group Europe and will join the executive committee of the U.S. -based parent company. Jordi de las Moras will continue as managing director of the European division.
Photo of Alua Soul Ibiza guestroom: Courtesy of Alua Hotels & Resorts