Marriott buys Starwood Hotels

Marriott buys Starwood Hotels

Marriott International is buying rival hotel chain Starwood for $US12.2 billion ($A17.15 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 per cent more rooms to Marriott’s portfolio and give it more unique, design-focused hotels that appeal to younger travellers.

The new company would have 5500 properties with more than 1.1 million rooms around the world, uniting Starwood’s brands, which include Westin, W and St Regis, with Marriott’s two dozen brands including Marriott’s Courtyard, Ritz-Carlton and Fairfield Inn.

Back in April, Starwood announced its board was exploring strategic options for the hotel company.

There was speculation in the markets about a potential deal with Holiday Inn owner Intercontinental Hotels Group and more recently Hyatt Hotels Corp.

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