Nov, 16 2015

Marriott to buy Starwood Hotels

Marriott International Inc will buy Starwood Hotels & Resorts Worldwide Inc in a cash and stock deal valued at $12.2 billion to create the world's largest hotel chain as per Reuters.

By Franchise India Bureau
Marriott to buy Starwood Hotels

Marriott International Inc will buy Starwood Hotels & Resorts Worldwide Inc in a cash and stock deal valued at $12.2 billion to create the world's largest hotel chain as per Reuters.

Starwood shareholders will receive 0.92 shares of Marriott Class A common stock and $2 in cash for each Starwood share held, the companies said.

Global hospitality chain Starwood Hotels and Resorts is also on its way to open 100 hotels in India by 2015. It presently operates 40 hotels in India and has another 36 under development. The company has 1200 hotels in 100 countries. 

On the other hand, Marriott is planning to open more hotels in India in next five years. Marriott offers owner and franchise opportunities across the globe, regions include the US, Canada, Europe, the Caribbean and Latin America, the Middle East, Africa and Asia Pacific.

Related: FYNE Superfood now becomes the part of Sattviko

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