Marriott International has reached an deal to acquire Elegant Hotels Group.

The hotel giant said it had reached an agreement with the board of Elegant on the terms of a recommended all cash offer for the business.

The offer values the share capital of Elegant at approximately £100.8 million.c

Elegant owns and operates seven hotels and a beachfront restaurant on the island of Barbados.

Six of the seven properties are situated along the west coast of Barbados, with the majority operated as all-inclusive resorts.

Marriott said it intends to carry out renovations to the hotels and intends to operate them as all-inclusive resorts under one or more of Marriott’s collection brands.

Arne Sorenson, president and chief executive, Marriott International, said: “There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category.

“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.”

Simon Sherwood, non-executive chairman of Elegant said: “The board of Elegant Hotels is confident in the group’s long-term prospects but believes that this offer represents compelling value for our shareholders and a great opportunity for our employees to be part of one of the world’s leading hotel companies.

“The fact that Elegant Hotels has attracted the interest of a company of Marriott’s caliber is a resounding endorsement of the outstanding quality of our properties, operations and people, and indeed of Barbados as a highly desirable destination. We are therefore unanimously recommending the offer to shareholders.”