TORONTO — Marriott International, Inc. announced on April 1 that it has completed the acquisition of the Delta Hotels and Resorts brand and management and franchise business from Delta Hotels Limited Partnership, a subsidiary of British Columbia Investment Management Corporation (bcIMC).
Under terms of the agreement, Marriott acquired the Delta management and franchise business, as well as the Delta brand and related intellectual property. Marriott paid C$170 million (approximately US $134 million at current exchange rates).
The transaction increases Marriott's distribution in Canada to more than 120 hotels and 27,000 rooms, making Marriott the largest full-service hotel company in Canada. With the closing of the Delta transaction, Marriott's development pipeline in Canada exceeds 45 properties and 7,300 rooms.
bcIMC-affiliated entities own 13 Delta hotels (and one under development) and have signed new 30-year management agreements with Marriott for these properties. Third parties own the other 24 Delta hotels; 14 are managed by Delta and 10 are franchised.
Marriott's Delta portfolio comprises 37 hotels and nearly 10,000 rooms in more than 30 cities across Canada. Plans call for Marriott to fully integrate Delta hotels onto its Marriott.com booking engine and its Marriott Rewards platform.