On September 23, Marriott International announced that it has completed the acquisition of Starwood Hotels & Resorts Worldwide, for which it paid over $13 billion.
The hotel chain created following the Starwood acquisition is the largest in the world, featuring 30 distinct brands and approximately 5,700 hotels with a total of 1.1 million rooms in over 110 countries.
According to Marriott, the integration of Starwood’s activities, a process for which it estimates it will record special expenses of $140 million, will result in lower costs by $250 million/year.
Source: Profit
Frequently Asked Questions
What was the total value of the Marriott-Starwood acquisition?
Marriott International paid over $13 billion to acquire Starwood Hotels & Resorts Worldwide.
How many hotels does the combined company operate?
The combined entity operates approximately 5,700 hotels with 1.1 million rooms across 110 countries.
What are the projected financial benefits of the merger?
Marriott expects the integration to generate annual cost savings of approximately $250 million.