Marriott outbid Doubletree Corp., which had an earlier deal to buy Hong Kong-based Renaissance for $890 million. Doubletree said it was not willing to raise its bid and will receive $15 million for the breakup of its deal with Renaissance.

Renaissance operates or franchises 150 hotels in 38 countries, and the acquisition will more more than double Marriott's international presence. In addition to upscale lodgings, it also licenses the Ramada name.

The combined company will operate or franchise more than 1,300 hotels throughout the world.

In Hawaii, Marriott manages the 720-room Maui Marriott Resort and the Kauai Marriott Resort, which has 356 hotel rooms and 232 time-share units.

Renaissance owns two Kauai hotels, the 438-room Waiohai Hotel and the 129-room Poipu Beach Hotel, both closed since Hurricane Iniki in 1992, and manages the 347-room Renaissance Wailea Beach Resort on Maui.

Marriott will pay Renaissance shareholders $30 for each share of their stock. Doubletree offered $26.67 in cash and stock. Marriott's chairman, J.W. Marriott Jr., said the deal will open 40 international markets to his company, including Russia, China, Japan, India, Italy and Turkey.

Renaissance operates or franchises hotels and resorts under three names: Renaissance, New World Hotels in Asia and the Pacific region and Ramada International, a mid-priced brand outside North America. Renaissance also licenses the Ramada name in the United States and Canada.

Marriott operates and franchises hotels under several names, including Marriott, Ritz-Carlton, Courtyard, Fairfield and Residence Inn.