Arne Sorenson, president and chief executive officer of Marriott International, said the acquisition continues the company's growth plans outside of the US. "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," he commented.
David Grissen, group president overseeing The Americas for Marriott International, added: "At completion, this transaction will propel Marriott to a leading position in Canada. Canada represents the largest international source market for our hotels in the United States, and the integration of Delta into Marriott’s 4,100 plus hotel global portfolio will provide new travel opportunities for both Delta and Marriott customers.
"We expect integrating Delta into Marriott’s systems, sales engines, Marriott.com, and the more than 49 million member Marriott Rewards loyalty program will create meaningful operational synergies for owners and franchisees."
Under the agreement, Marriott will acquire the Delta management and franchise business, as well as the Delta brand and related intellectual property.
Once the necessary approvals are in place, the parties expect to close the transaction in the second quarter of 2015.
Marriott announced last week that it aims to have more than one million rooms open or under development across the globe by the end of 2015.
More:Top 100 US meeting hotels named