Hotels, Marriott detects Starwood gives birth to the super-chain of a million rooms – Intelligonews

Hotels, Marriott detects Starwood: the birth of the super-chain of a million rooms

Creation of the super-hotel chain: Marriott International has announced that will detect Starwood Hotels & amp; Worlwide Resorts in a transaction in cash and shares of $ 12,200,000,000 .

The company that will result from the merger between the two US giants can in fact count on more than 1.1 million hotel rooms in more than 100 countries worldwide, becoming the number one industry. ousted from the podium the group Hilton Worldwide , which has “only” 4,400 hotels and approximately 720,000 rooms. Under the terms of the agreement, shareholders will receive 0.92 shares of Starwood and Marriott $ 2 in cash for each share held Starwood. Securities payment in shares will amount to 11.9 billion, to which are added 340 million in cash.

The acquisition should be completed by the middle of 2016 and result in an increase in earnings for Marriott in the second year. Last month, rumors had surfaced that gave Starwood in talks with another chain, Hyatt , while some time ago there was talk of an interest of Holiday Inn .

Starwood, besides the namesake brand, carries also Westin, St. Regis and W . Marriott has instead two dozen brands, among which we can mention Marriott’s Courtyard, Ritz-Carlton and Fairfield Inn.