Brace up folks, the world's largest hotel just got formed.
Marriott buys Starwood to form world's largest hotel company
Marriott International acquired fellow hotel chain, Starwood Hotels & Resorts Worldwide for a whooping $12.2 billion.
Marriott International acquired fellow hotel chain, Starwood Hotels & Resorts Worldwide for a whooping $12.2 billion yesterday Monday, 16th November.
Starwoods is behind such popular hotels like Sheraton, W Hotels and Westin, while Marriott brands include Courtyard and Residence Inn hotels.
Following the merger, both companies will now operate a franchise of 5,500 hotels with a total of 1.1 million rooms, spanning 100 countries.
According to CNN Money, Starwood put itself on the market in April when board chairman Bruce Duncan said the company planned to explore a "full range of strategic and financial alternatives."
Before the purchase, 3 Chinese firms - Shanghai Jin Jiang International Hotels, Sovereign Wealth Fund China Investment Group and HNA Group, parent company of Hainan Airlines had reportedly had been vying to take over Starwood.
It now remains to be seen what changes the merger will spell for the franchises across the world.
Here in Nigeria, Starwoods hotels include Sheraton Abuja Hotel, Le Meridien Ibom Hotel & Golf Resort, Four Points by Sheraton Lagos, Sheraton Lagos Hotel and Le Meridien Ogeyi Place.
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