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.