Marriott International has agreed to acquire Canadian hotel company Delta Hotels and Resorts for approximately $135 million, it announced this week. The deal, which encompasses 38 hotels and resorts with 10,000 guest rooms in more than 30 Canadian cities, makes Marriott the largest full-service hotelier in Canada, with more than 120 hotels and 27,000 rooms north of the U.S. border.
"Delta has an impressive portfolio of hotels that are among the most preferred in Canada," Marriott International President and CEO Arne Sorenson said in a statement. "With this acquisition, we are continuing our focus on building our brand portfolio and growing in attractive regions outside the U.S. Combining the strong Delta brand with Marriott's hotel development expertise will accelerate growth of the brand in Canada and in other markets around the world."
Pending approval by third parties and government agencies, the deal is expected to close in the second quarter of this year.