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Marriott website
Marriott International announced the $135M acquisition of the entire Delta Hotels and Resorts brand, saying it’s a great step for the hotel company as it expands internationally. The deal includes 38 hotels (Delta Ottawa above) and 10,000 rooms in 30 Canadian cities; the management and franchise business; and intellectual property. This less than a week after Marriott CEO Arne Sorenson expressed optimism over the economic recovery, citing the benefit of lower gas prices for consumers. The deal is expected to close in Q2, and when finalized, will make Marriott a top hotel brand in Canada, increasing its Canadian portfolio to more than 120 hotels and 27,000 rooms.
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