Mar­riott ac­qui­si­tion

Travel Daily - - News -

MAR­RIOTT In­ter­na­tional en­tered into a deal on Fri to ac­quire El­e­gant Ho­tels Group.

The all-cash deal will see each El­e­gant Ho­tels share­holder en­ti­tled to re­ceive 110 pence per share, a to­tal pay­out of ap­prox­i­mately £100.8 mil­lion (AU$189.9 mil­lion).

El­e­gant Ho­tels owns and op­er­ates seven ac­com­mo­da­tions and a beach­front restau­rant on Bar­ba­dos, with six of the seven sit­u­ated along the is­land’s pres­ti­gious west coast.

Fol­low­ing the com­ple­tion of the ac­qui­si­tion, Mar­riott will ren­o­vate the ho­tels, which it in­tends to op­er­ate as all-in­clu­sive re­sorts.

The clos­ing of the trans­ac­tion is sub­ject to the sat­is­fac­tion or waiver of con­di­tions.

In Aug Mar­riott In­ter­na­tional launched a new plat­form to serve the in­creas­ingly pop­u­lar all-in­clu­sive va­ca­tion seg­ment (TD 07 Aug).

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