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.
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