Marriott International is buying rival hotel chain Starwood for $12.2 billion in a deal that will secure its position as the world’s largest hotelier.
The stock-and-cash deal, if completed, will add 50 percent more rooms to Marriott’s portfolio and give it more unique, design-focused hotels that appeal to younger travelers.
The new company would have 5,500 properties with more than 1.1 million rooms around the world, uniting Starwood’s brands, which include Sheraton, Westin, W and St. Regis, with Marriott’s two dozen brands including Marriott’s Courtyard, Ritz-Carlton and Fairfield Inn.
The next-largest hotel company is Hilton Worldwide with 4,400 properties and about 720,000 rooms.
Read More: http://skift.com/2015/11/16/marriott-to-buy-starwood-in-12-2-billion-deal/
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