Marriott to Acquire Barbados-Based Elegant Hotels Group in $130 Million Deal

By Jesse Sokolow on 18 October 2019
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DSC_0373Marriott International said Friday it plans to acquire the Barbados-based Elegant Hotels Group.

Elegant owns and operates seven hotels with a hotel of 588 rooms including several all-inclusive resorts as well as a beachfront restaurant.

“There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category,” said Arne Sorenson, Marriott’s CEO, adding that “the addition of the Elegant portfolio will help us further jumpstart our expansion in the all-inclusive space.”

The deal, which is subject to shareholder approval, is valued at $130.1 million.

Six of the seven Elegant properties are on the island’s Platinum Coast.  After the closing, Marriott said it plans to renovate all seven and rebrand them.   It will also sell them off while retaining the management contract.

(Photo: Accura Media Group)

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