Marriott International announced Monday it had completed its acquisition of Elegant Hotels Group.The agreement between the boards of Elegant Hotels Group and Marriott International was originally reached on October 18, but the courts officially sanctioned the deal on December 6. Officials from Elegant and Marriott revealed the court order had been delivered to the Registrar of Companies, making the deal effective immediately and Elegant now a wholly-owned subsidiary of International Hotel Licensing Company (IHLC).The IHLC is a wholly-owned indirect subsidiary of Marriott International.“There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category,” Marriott International CEO Arne Sorenson said in a statement. “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.”The news comes during a busy month for Marriott, as the company announced plans to open more than 30 luxury hotel properties around the world in 2020. The hotel giant has more than 185 luxury properties in its signed development pipeline that will significantly expand its portfolio to more than a dozen new countries and territories, including places like Iceland, Montenegro and the Philippines.In addition, Marriott announced in November it had signed agreements with Asset World Corporation to introduce three of its global hospitality brands to Thailand. The deal would fuel the company’s expansion in the country with the addition of three hotels comprised of nearly 1,550 rooms expected to open between late 2020 and 2024. Let's block ads! (Why?)