Tag

Sheraton

12169_131003170401864
Maldives-Holiday

Marriott International to buy Starwood Hotels and Resorts for $12.2bn

Marriott International said today it had agreed to buy Starwood Hotels & Resorts in a $12.2bn (£8bn) cash and shares deal, creating the world’s largest hotel company. In a statement today, the company said the combined company – which will include the Sheraton, W Hotels and Ritz-Carlton brands, will have more than 5,500 hotels, with more than one million rooms.   Travel with passion around the islands of #Maldives Photo by Asad A photo posted by Maldives photographer Asad (@pro_capture) on Nov 15, 2015 at 7:46pm PST Under the terms of the deal, Starwood’s shares are valued at $79.88 each, with investors receiving 0.92 Marriott shares and $2 in cash. The decision brings to an end a year of speculation over who will buy Starwood. Last month Hyatt was linked with the company, while Intercontinental Hotels Group (IHG) has also been named as a possible buyer. Wedding photoshoot at W Retreat and spa, Maldives…

Continue reading
%d bloggers like this: