Marriott To Acquire Elegant Hotels Group

This post may contain affiliate links from our advertising partners, such as American Express. Read my Advertiser Disclosure policy here. Some of the offers below may have expired or are unavailable on our site at this time. Terms Apply to Offers. Offers for the Amex EveryDay® Preferred Credit Card from American Express, Starwood Preferred Guest® Credit Card from American Express, Platinum Delta SkyMiles® Credit Card and Delta Reserve® Credit Card are not available through this site. All information has been independently collected by PMM and has not been reviewed or provided by the card issuer.

Marriott has announced that they will acquire Elegant Hotels Group which offers 7 hotels in Barbados (mostly all-inclusive resorts.) No timeline was given for when these properties might become bookable under Marriott.

Marriott To Acquire Elegant Hotels Group

Marriott International (NASDAQ: MAR) announced today the company has reached an agreement with the board of Elegant Hotels Group plc (LON: EHG; “Elegant”) on the terms of a recommended all cash offer for Elegant. Under the terms of the offer, each Elegant shareholder would be entitled to receive 110 pence per Elegant share. The offer values the entire issued and to be issued ordinary share capital of Elegant at approximately £100.8 million ($130.1 million based on £1:$1.29).

Elegant owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados. Six of the seven properties are situated along the prestigious west coast of Barbados commonly known as the “Platinum Coast.” The majority of Elegant properties are operated as all-inclusive resorts.

Following the acquisition, Marriott intends to carry out renovations to the hotels in the Elegant portfolio. Upon completion of the planned property renovations, Marriott intends to operate all the Elegant hotels as all-inclusive resorts under one or more of Marriott’s collection brands. In keeping with Marriott’s asset-light strategy, over time, Marriott also intends to market the Elegant hotels for sale subject to long-term management agreements under which Marriott would continue to manage the hotels.

HT: Marriott News

The Platinum Card® from American Express Editorial Note: Opinions, analyses, reviews or suggestions expressed on this site are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This post was accurate at the time of posting, offer may be unavailable on this site at a later time. For details on current offers visit the card issuer’s site.
American Express® Gold Card

About The Weekly Flyer

The Weekly Flyer writes about travel from a business traveler perspective. He travels the world every week accumulating points and miles along the way.

Sign up for Email || Twitter || Facebook |Tips & Tricks
Hotel Offers || Airline Offers || Bank Offers || Cash Back Offers

Leave a Reply

Your email address will not be published. Required fields are marked *