Marriott to buy Sheraton owner Starwood for $12.2bn

The US hotels giant behind the Westin and Sheraton brands is to be bought by rival Marriott International for $12.2bn.

http://i.telegraph.co.uk/multimedia/archive/03495/westin-valencia_3495670b.jpg

The deal will create the world's biggest hotel company, operating and franchising more than 5,500 hotels

The deal between Starwood Hotels & Resorts Worldwide, which has been circled by a host of suitors in recent weeks, and Marriott will create the world's biggest hotels company. 

The joined business will either work or establishment more than 5,500 inns and will have around 1.1m rooms over the world, producing expense incomes of over $2.7bn.

There has been theory that Starwood, which additionally possesses the W and St Regis brands, would be purchased since April, when it propelled a vital survey and administrator Bruce Duncan said that "no alternative is off the table".

FTSE 100-recorded opponent InterContinental Hotels Group has been over and over compelled to suppress bits of gossip that it would purchase Starwood. All the more as of late, Hyatt and a trio of Chinese suitors were said to be competing to obtain the US organization.
Recent Comments Widget
 
Copyright © 2016 TrendsAround • All Rights Reserved. Contact for more information.
Template Design by BTDesigner • Powered by Blogger
back to top