In a recent announcement Hyatt Hotel Corporation is set to acquire Apple Leisure Group (also known by its trade name AMResorts, LP) for 2.7 billion. The Hyatt name will now be intermingled with Apple Leisure Group’s (ALG) more than 33,000 rooms across 100 separate resort properties. The acquisition is set to take place during the last quarter of 2021. Apple Leisure Group is known for its large chain of resort subsidiaries in primarily tropical locations. It houses some of the most notable American owned timeshare resorts in Mexico through its Unlimited Vacation Club, with over 110,000 members. It is one of the few non-major (Marriott, Wyndham, Hilton) American companies that owns timeshares in Mexico. The acquisition will double Hyatt’s access to global resorts primarily in Mexico and the Caribbean, but also giving access to some choice European locations.
The timeshare market is constantly changing in terms of who owns what resort. Even large main stay timeshare companies get acquired by even larger fish. Just weeks ago, Diamond one of the largest names in timeshares was acquired by the even larger ‘Hilton’ through its timeshare subsidiary Hilton Grand Vacations (HGV). The timeshare industry is largely subject to change and seems to be moving towards having just a handful of super conglomerates owned by even larger Hotel and Resort chains.
As we have stated in the past these constant changes are the subject of some concern. As companies get acquired or subsumed the new resort’s policies, and the rights of their owners are subject to change. The rules Hyatt has governing ownership may be different from the ones ALG had in place. This could be for the better or worse to owners. Unsuspecting to many timeshare owners is that their contracts are often not as protective of their rights as they may believe they are. Most contracts clearly state that many of the amenities and options owners have come to enjoy are either not specifically defined in their contracts or “subject to change”. This leads to many owners falling under the false presumption that they have a “right” to certain stays, or locations, but the reality of the contracts they have signed is different. Unfortunately, this leaves them open to the whims of the resort to decide if they want to honor their previous programs.
If you are concerned about your rights regarding your timeshare, or perhaps how the merger may affect you as an Unlimited Vacation Club owner, please reach out to one of our attorneys at 360-918-8192, or get started today. We offer pro bono (no cost) consultations to review your case and inform you of your options.