Marriott to buy Starwood
Marriott International has agreed a deal worth £8 billion to buy Starwood Hotels.
Together the two hotel companies, which boast more than 5,500 hotels with 1.1 million rooms, will create the world’s biggest hotel chain.
The deal, which has been ‘unanimously agreed’ by the two boards, will see the new company overtake the UK’s Intercontinental Hotels with just under 5,000 hotels.
Marriott chief executive Arne Sorenson, who will head the new group, said the two firms hoped to become ‘the world’s favourite travel company’, reports the BBC.
Marriott will pay $11.9bn in stock and the rest, amounting to $12.2bn, in cash, with the acquisition completed by mid-2016.
Diane
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.

































Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025