November 16, 2015 Comments Off on $12.2B Marriott-Starwood Deal Creating Largest Hotel Chain Views: 601 California News, National News

$12.2B Marriott-Starwood Deal Creating Largest Hotel Chain

Marriott International has reportedly acquired Starwood Hotels & Resorts Worldwide for a price tag of $12.2-billion, establishing the largest hotel company in the world. The deal still faces regulatory approval.

The Marriott-Starwood marriage would create a hotel empire encompassing about 5,500 properties worldwide in more than 100 countries, with about 1.1 million rooms. Over the past 12 months ending September 30, combined revenues of the two companies totaled $2.7 billion.

Starwood’s brands include Westin, the W, Sheraton and St. Regis. Earlier this year, both InterContinental Hotels Group and Hyatt expressed interest in purchasing Starwood.

Read More at NYTimes.com

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