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MercoPress, en Español

Montevideo, May 3rd 2024 - 04:37 UTC

Tag: Starwood Hotels and Resorts

  • Tuesday, November 17th 2015 - 09:07 UTC

    Marriott agrees to buy Starwood, making it the largest hotel chain in the world

    Marriott CEO Arne Sorenson will remain CEO of the combined company. Deal is expected to close in 2016, following shareholder and regulatory approvals.

    Marriott International has agreed to buy Starwood Hotels and Resorts in a $12.2 billion deal that will make it the largest hotel chain in the world. The boards of directors of both companies have unanimously approved a merger agreement, Marriott announced this morning. The combined companies will operate or franchise more than 5,500 hotels with 1.1 million rooms worldwide. About 35% of the properties are outside the USA.