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Marriott to buy Barbados’ largest luxury hotel operator

Along with the Doha Marriott Executive Apartments in Qatar, Marriott International's latest growth will also see its footprint increase in priority markets such as the United Arab Emirates and Saudi Arabia. (File photo)

Along with the Doha Marriott Executive Apartments in Qatar, Marriott International’s latest growth will also see its footprint increase in priority markets such as the United Arab Emirates and Saudi Arabia. (File photo)

Marriott International Inc. has a deal to buy the largest operator of luxury hotels in Barbados in a deal worth more than $130 million, based on exchange rates.

The Bethesda company on Friday announced it had an agreement with the board of Elegant Hotels Group PLC on the terms of a cash offer, which values Elegant at roughly $199 million based on its debt of $68.9 million as of March 31. The deal is subject to conditions, including approval by Elegant’s shareholders.

Arne Sorenson, president and CEO of Marriott International, said in a news release that the acquisition would further jumpstart Marriott’s expansion in the all-inclusive space, while benefiting the 133 million members of the company’s rewards program.

Elegant owns and operates seven hotels, mostly as all-inclusive resorts, with a total of 588 rooms, and a beachfront restaurant in Barbados. Six of the seven properties are in the area called the “Platinum Coast.”

After the acquisition, Marriott plans to renovate the hotels, then operate them as all-inclusive resorts under one or more of its brands. The company also plans to eventually market the hotels for sale under long-term agreements under which Marriott would manage them.


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