Marriott International to acquire Starwood Hotels & Resorts Worldwide

American hotel chain Marriott International will acquire rival hotel company Starwood Hotels & Resorts at $12.2 billion to create the world’s largest hotel chain.

• The merged company will have 1.1 million rooms spanning 30 brands in over100 countries across the globe.
• Marriott expected one-time transaction costs of $100 million-$150 millionrelated to the deal and the company expects the acquisition to add to its earnings from the second year after the deal conclusion. The transaction is expected to be complete in mid 2016.

Key points :

• Marriott CEO : Sorenson
• Starwood Hotels & Resorts CEO : Adam Aron