Marriott International is progressing with its plans to establish an all-inclusive proposition, announcing it will acquire Elegant Hotels Group and its seven hotels for around US$130 million.
Properties within the Elegant Hotels Group stable include Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach, Waves Hotel & Spa and the Italian restaurant, Daphne’s.
The Elegant Hotels collection comprises 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.
“There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category,” said Arne Sorenson, President and Chief Executive Officer, Marriott International. “The addition of the Elegant portfolio will help us further jumpstart our expansion in the all-inclusive space, while providing more choices on the breathtaking island of Barbados for our 133 million Marriott Bonvoy members.”
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.
In August, Marriott launched an all-inclusive platform with the goal of growing a worldwide portfolio of resorts in popular holiday segments by leveraging the company’s operational and development expertise, its Marriott Bonvoy travel program and its iconic hotel brands.
In August, Marriott said it would develop five brand new all-inclusive resorts in the Caribbean and Mexico, consisting of the 650-room Autograph Collection hotel in Punta Cana, Dominican Republic; 240-room The Ritz-Carlton resort; 400-room Westin Hotels resort; 300-room Autograph Collection resort and 500-room Marriott Hotels resort in NIA, Riviera Nayarit, Mexico.
All images courtesy of Elegant Hotels Group.
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