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11/16/2015 06:08 PM ID: 101281 Permalink   

Marriott to Buy Starwood Hotels and Resorts for $12.2B, Becomes World´s Largest Hotelier

 

Marriott International announced that it is buying rival hotel chain Starwood Hotels and Resorts for $12.2 billion in a deal that will make it the world´s largest hotel chain.

The combined company will own or franchise more than 5,500 hotels with 1.1 million rooms worldwide.

"This is an opportunity to create value by combining the distribution and strengths of Marriott and Starwood, enhancing our competitiveness in a quickly evolving marketplace," Marriott CEO Arne Sorenson said in a statement.

 
  Source: www.usatoday.com  
    WebReporter: dolcevita Show Calling Card      
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