Marriott Acquires Elegant Hotels Group in All-Cash Deal

By Anna Breuer on 9 December 2019
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Marriott International that has acquired the Barbados-based Elegant Hotels Group.  The acquisition was made through a wholly-owned indirect subsidiary of Marriott, International Hotel Licensing Company as an all-cash deal.

“Elegant and Marriott are pleased to announce that the Court Order has been delivered to the Registrar of Companies today and accordingly the Scheme has now become effective, in accordance with its terms,” Marriott said in a statement.  “Elegant is now a wholly owned subsidiary of IHLC.”

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, at the time the acquisition was announced in October.  “The addition of the Elegant portfolio will help us further jumpstart our expansion in the all-inclusive space.”

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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