BETHESDA, MD—Marriott International Inc. has officially completed its acquisition of Elegant Hotels Group plc for $130.1 million, a move that fuels the growth of its all-inclusive platform.
On October 18, 2019, the boards of Elegant Hotels Group plc (Elegant) and International Hotel Licensing Company S.à r.l. (IHLC), a wholly owned indirect subsidiary of Marriott International Inc., revealed that they had reached agreement on the terms of a recommended all-cash offer to be made by IHLC for the entire issued and to be issued ordinary share capital of Elegant.
On December 6, 2019, Elegant and Marriott learned that the Court had sanctioned the deal. The Court Order has been delivered to the Registrar of Companies and accordingly, the deal has now become effective, in accordance with its terms. Elegant is now a wholly owned subsidiary of IHLC.
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 west coast of Barbados commonly known as the “Platinum Coast.” The majority of Elegant properties are operated as all-inclusive resorts.
“There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category,” said Arne M. Sorenson, president/CEO, Marriott International, in a statement on October 18, 2019. “The addition of the Elegant portfolio will help us further jump-start our expansion in the all-inclusive space, while providing more choices on the breathtaking island of Barbados for our 133 million Marriott Bonvoy members.”