Marriott to acquire Delta Hotels and Resorts for $168 million

Marriott International, Inc. announced it has signed definitive agreements to acquire the Delta Hotels and Resorts brand and management and franchise business from Delta Hotels Limited Partnership for $168 million, expanding Marriott's presence in the Canadian marketplace.

The Delta brand comprises a diverse range of hotels and resorts with 38 hotels and 10,000 rooms in more than 30 cities across Canada. When completed, the transaction will increase Marriott's distribution in Canada to more than 120 hotels and 27,000 rooms, making Marriott the largest full service hotel company in Canada.

The parties expect to close the transaction in the second quarter of 2015.