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  • Chidozie Uzoezie

Marriott International to Acquire Elegant Hotels Group


Marriott International is fueling the growth of its all-inclusive platform with an agreement with the board of Elegant Hotels Group to acquire the hotel group.

Under the terms of the offer, each Elegant shareholder would be entitled to receive 110 pence per Elegant share. The offer values the entire issued and to be issued ordinary share capital of Elegant at approximately £100.8 million ($130.1 million based on £1:$1.29).

The offer price implies an enterprise value for Elegant of approximately $199.0 million based on Elegant’s total net debt of $68.9 million as at 31 March 2019 as set out in Elegant’s most recent half year report for the six months ended 31 March 2019.

Elegant owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados. Six of the seven properties are situated along the prestigious west coast of Barbados commonly known as the “Platinum Coast.” The majority of Elegant properties are operated as all-inclusive resorts.

Following the acquisition, Marriott intends to carry out renovations to the hotels in the Elegant portfolio. Upon completion of the planned property renovations, Marriott intends to operate all the Elegant hotels as all-inclusive resorts under one or more of Marriott’s collection brands.

In keeping with Marriott’s asset-light strategy, over time, Marriott also intends to market the Elegant hotels for sale subject to long-term management agreements under which Marriott would continue to manage the hotels.

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Comments (25)

Gast
21. Sept. 2022

We just booked our QATAR 🇶🇦 HÔTEL yesterday for 2 différent short stars of 2 nights and 3 nights for the Final… https://www.14sb.com/fifa-world-cup-hotels.html . Not exactly cheap but ok price for 4.5 Stars luxury and in Doha Center City! Thanks and Good Luck everyone! Vamos MEXICO!

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Gast
30. Sept. 2022

Wow! Stunning! Hilton seems to be taking Africa by storm. Just a couple of years back, they opened the first ever in Eswatini.

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kasarokcaesar
24. Okt. 2022

Wonderful event and topics discussed, hopefully we see the manifestations in our African airline businesses in the nearest future. Kudos to you all.

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Gast
10. Nov. 2022

Hi, I'm Lucy. Please how do I embark on my travel/ tour business. I am newbie and help..

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Gast
18. Nov. 2022

Prices in the Sol Torremolinos Don Pablo are the same than two weeks ago.

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Gast
04. Dez. 2022

Good location astounding but the staffs are rude and they make me wait so long for the service. They charge me more than what is on the website and did not refund me the manager is not helping with the issue


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Gast
15. Dez. 2022

WoW. Amazing Review. 👍

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Gast
07. Jan. 2023

I spent the holidays here, I don't know why but during the holidays their reception smells like a piss Id rather not spend my special occasions here

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Gast
07. Aug. 2023
Antwort an

Where is here.

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Gast
27. Jan. 2023

Thank you for sharing such a detailed review about ethiopian airlines in your post. I am an avid traveller and keep reading flight reviews to assess the options available. Your review particularly drew my attention because you have shared so many pictures to capture every aspect of the flight experience. It is a very nice effort.


More Info : https://www.cleartrip.ae/flight-booking/ethiopian-air-airlines.html

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Gast
27. Feb. 2023

I am really tempted to book the next ethiopian airlines ticket and relive your journey. The pictures shared with the post also reflect that you truly enjoyed the travel. Great post! I also like the fact that you have covered nuances about the food and entertainment service through the pictures. It helps people know what to expect on their travel by this airline.


More Info : https://www.cleartrip.ae/flight-booking/ethiopian-air-airlines.html


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