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February 9, 2015

Canada: Marriott Acquires Delta Hotel Brand

Marriott International, Inc. 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 (CDN). Delta is Canada’s leading homegrown hotel brand.

Delta Hotels Limited Partnership is a subsidiary of British Columbia Investment Management Corporation (bcIMC).

The Delta brand is comprised of 38 hotels and 10,000 rooms in more than 30 cities across Canada. bcIMC-affiliated entities own 13 Delta hotels (and one under development) and will sign new 30-year management agreements with Marriott for these properties. Third parties own the other 25 Delta hotels—15 are managed by Delta and 10 are franchised. In total, five managed hotels representing some 1,100 rooms are under development. 

When completed, the transaction will increase Marriott's distribution in Canada to more than 120 hotels and 27,000 rooms, making it the largest full service hotel company in Canada. 

Arne Sorenson, president and CEO of Marriott International, said: "Delta has an impressive portfolio of hotels that are among the most preferred in Canada. With this acquisition, we are continuing our focus on building our brand portfolio and growing in attractive regions outside the U.S. Combining the strong Delta brand with Marriott's hotel development expertise will accelerate growth of the brand in Canada and in other markets around the world."

The transaction is subject to receipt of third party and government consents, including by the Canadian Competition Bureau. Both Marriott and Delta expect the transaction to close in 2Q 2015. 

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