Marriott completes acquisition of Elegant Hotels
Elegant owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados
Hospitality giant Marriott International has completed the acquisition of Elegant Hotels.
On October 18, 2019, the boards of Elegant Hotels Group and International Hotel Licensing Company (IHLC), a wholly-owned indirect subsidiary of Marriott International, announced that they had reached agreement on the terms of a recommended all cash offer.
And on December 6, 2019, Elegant and Marriott announced that the Court had sanctioned the Scheme.
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.
Following the acquisition, Marriott intends to carry out renovations to the hotels in the Elegant portfolio. Upon completion of the planned property renovations, the hospitality giant intends to operate all the Elegant hotels as all-inclusive resorts under one or more of Marriott’s collection brands.