TORONTO—Marriott International has signed definitive agreements to acquire the Delta Hotels and Resorts brand and management and franchise business from British Columbia Investment Management Corp. for about $135 million (C$168 million).

The Delta brand comprises a diverse range of hotels and resorts with 38 hotels and 10,000 rooms in more than 30 cities across Canada. Delta offers a fresh approach to the guest experience, including its new ModeRoom guest room designs, innovative use of new technologies, and new properties, such as its flagship Delta Toronto located at the hub of Canada's hottest high-rise neighborhood, South Core. When completed, the transaction will increase Marriott's distribution in Canada to more than 120 hotels and 27,000 rooms, making Marriott the largest full-service hotel company in Canada.

“Delta has an impressive portfolio of hotels that are among the most preferred in Canada,” said Arne Sorenson, president and CEO of Marriott International. With this acquisition, we are continuing our focus on building our brand portfolio and growing in attractive regions outside 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.”