MARRIOTT
International’s
acquisition of
Starwood for US$12,2bn
(R173,7bn) will see the group
grow into the “world’s biggest
hotel company”.
“The transaction combines
Starwood’s Westin and
Sheraton brands with
Marriott’s strong presence
in the luxury and selectservice
tiers as well as
the convention and resort
segment, creating a more
comprehensive portfolio,”
said Arne Sorenson,
president and ceo of Marriott
International.
Combined, the companies
operate or franchise more
than 5 500 hotels with 1,1
million rooms worldwide.
In South Africa, Starwood
operates the Westin
Hotel in Cape Town, the
Pretoria Sheraton Hotel
and Ten Bompas Hotel in
Johannesburg. Across the
rest of Africa, the group has
36 operational hotels and 18
still under development.
“The driving force behind
this transaction is growth.
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.”
Assuming receipt of the
necessary approvals, the
parties expect the transaction
to close in mid-2016.
Marriott – ‘world’s biggest hotel group’
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