Marriott International has signed a definitive agreement to acquire the Delta Hotels and Resorts brand and management and franchise business from Delta Hotels Limited Partnership, a subsidiary of British Columbia Investment Management Corporation for C$168 million (US$135 million).
The Delta brand includes 38 hotels and 10,000 rooms in more than 30 cities across Canada. When completed, the transaction will increase Marriott’s distribution in Canada to more than 120 hotels and 27,000 rooms, making Marriott the largest full service hotel company in Canada.
“With this acquisition, we are continuing our focus on building our brand portfolio and growing in attractive regions outside the U.S.,” said Arne Sorenson, president and CEO of Marriott International. “Combining the strong Delta brand with Marriott’s hotel development expertise will accelerate growth of the brand in Canada and in other markets around the world.”
The transaction is subject to receipt of certain third party and governmental consents, including by the Canadian Competition Bureau. The parties expect to close the transaction in the second quarter of 2015.