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Sunday,  July 21, 2024 8:33 AM 

Marriott-Starwood merger officially complete

Marriott-Starwood merger officially complete

Marriott’s acquisition of Starwood Hotels was officially completed this week, creating the world’s largest chain in a deal valued at approximately $13 billion.

The acquisition will expand Marriott’s portfolio to 30 hotel brands worldwide, with 5,500 properties in more than 100 countries. An integration of the chains’ respective loyalty programs is expected to be unveiled in 2018; until that time, the two programs will continue to operate in parallel, according to Marriott.

Earlier this year, a consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Limited made a counter offer to Starwood, resulting in a brief bidding war with Marriott.