Marriott International has acquired Starwood, creating the world’s largest hotel portfolio with over 5,500 properties. The deal, worth a reported $12.2 billion, will have over one million rooms globally.
“We became more convinced about the advantages of size by combining the two companies together,” Marriott Chief Executive Arne Sorenson said. “We thought that would bring more options for customers and create a bigger loyalty program. We’d have the ability to compete better, invest in technology and stay front and center with customers.”
The massive hospitality company will include over 30 brands, and there has been no word on how the brands will be integrated. “We’ll take it a step at a time,” he said. [WSJ]