Marriott completes Elegant acquisition

Marriott International has completed its acquisition of
Elegant Hotels Group for $130 million. The buy is a part of Marriott’s growth strategy in Caribbean all-inclusives.

Elegant is now a wholly owned Marriott subsidiary, and the company
has ceased trading on the London Stock Exchange’s AIM market.

Elegant has seven hotels in Barbados, some of which operate
as all-inclusives. When Marriott announced the acquisition in October, the
company said it planned to renovate the Elegant hotels and operate all of them
as all-inclusive resorts under a Marriott brand.

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