Marriott buys Starwood, born new global leader of hotels – Il Sole 24 Ore

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This article was published on November 16, 2015 at 17:48.

New York-More than a million hotel rooms under one roof, to give birth to the largest hotel company in the world. Marriott bought today rival Starwood for $ 12.2 billion and gave new impetus to the trend of mergers and acquisitions that is changing the face of many industries on a global scale, from a hi-tech to energy, pharmaceuticals and tourism.

The new hospitality giant can count on 5,500 hotels divided into thirty brands, with a combined market share of 14% in the US (10% of Marriott and Starwood 4%) than dieting the heads of the two companies should not create obstacles antitrust. Integration should bring a dowry a market segment and higher international Marriott, thanks to a brand of Starwood as that of the W hotel and the presence of half of the 350,000 rooms overall group detected abroad.

The merger is not a surprise, but it is the buyer’s name: last month rumors had surfaced that gave Starwood in talks with another chain, Hyatt.
Terms of the transaction announced today that they evaluate Starwood $ 72.08 per share, involving a payment of 0.92 titles Marriott and two dollars in cash for each share 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.

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