Hotel News, Hotel News in India, Hospitality News, Hospitality News in India, Hospitality Business, Hospitality Business in India, Hospitality News South East Asia, hospitalityrise,, hotel jobs, hotel Jobs India, hospitality jobs in India, Hotel Vacancy in India, Hotel Jobs worldwide, Hospitality Jobs worldwide, Hotel Vacancy Worldwide, hospitality jobs, Luxury hotel jobs, Five star hotel jobs, India Hotel Jobs, India ,South East Asia Hotel Jobs, Hotel News Now, Hospitality News Now, Business News, Hotel, Hotel Business in India, Hotel Business News in India, Hospitality Industry, Hospitality Industry in India, Hospitality Industry Jobs, Hospitality Industry News, Hospitality Industry Job Vacancies, Hospitality Industry current News, Hotel Industry, Hotel Industry News, Hotel Industry Jobs, Hotel Industry Business In India, Hotel Industry Job Vacancies, Hotel Industry News, Delta Hotels, Marriott hotels, Delta Hotels News, Canada hotels, New Acquisition, New Hotel Acquisition

Hotel News: Marriott acquires Canadian chain Delta Hotels & Resorts for $ 135 Million

In a recent acquisition development, Marriott International Inc has acquired Canadian management company Delta Group. Delta has grown from its humble beginnings in 1962 as a company with a 62-room motel in Richmond, B.C. It quickly expanded across the country before being sold to British Columbia Investment Management Corporation in 2007 and today manages 38 properties across the country. The $168 million purchase is subject to regulatory approval and Marriott expects to close the deal in the second quarter of 2015. With the acquisition Marriott International’s Canada portfolio would rise to more than 120 properties with 27,000 rooms, bolstered by the addition of Delta’s 38 hotels with 10,000 rooms in more than 30 Canadian cities.
Canada’s tourism research scholars are predicting that a combination of lower fuel prices and a weak Canadian dollar will entice Americans to take 200,000 more trips to Canada in 2015, with international travellers taking 150,000 additional trips and Canadians themselves taking 1.1 million more domestic overnight trips.
Marriott, a Maryland-based hospitality business, already has 4,100 properties in 79 countries, including 86 Canadian locations. It reported revenues of nearly $13 billion (U.S.) in 2013.
Marriott is expanding across the globe extensively and aggressively. In the last few years, Marriott has acquired Spain’s AC Hotels and South Africa’s Protea Hotels.

HospitalityriseHotel News: Marriott acquires Canadian chain Delta Hotels & Resorts for $ 135 Million


Leave a Comment