OTTAWA – The Competition Bureau approved Monday a deal by Marriott International Inc. to buy the Delta hotel brand from B.C. Investment Management Corp.
The acquisition is unlikely to lead to a substantial lessening or prevention of competition due to, among other things, competition from rival chains and independent hotels, the bureau said.
The federal regulator issued a “no action” letter regarding the deal confirming it will not challenge the proposed transaction.
Marriott agreed in January to pay $168 million for the Delta hotel brand.
Under the agreement, the U.S. hotel chain will take over the management and franchise operations for the 38 Delta hotels and resorts including 10,000 rooms across Canada from the provincial investment manager.