Merger of Starwood and Marriott finalized
STAMFORD — Marriott International completed Friday its acquisition of Stamford-based Starwood Hotels & Resorts Worldwide, a merger that creates the largest hotel company in the world.
“We believe that Marriott now has the world’s best portfolio of hotel brands, the most comprehensive global footprint, and the most extensive loyalty programs, providing an unparalleled guest experience,” Arne Sorenson, president and CEO of Marriott International, said in a statement. Combining Starwood’s brands with ours better enables Marriott to reach our goal of having the right brand in the right place to serve our loyal guests and welcome new ones.”
The new company will operate or franchise more than 5,700 properties and 1.1 million rooms, comprising 30 brands in more than 110 countries. With the completion of the acquisition, Marriott’s distribution has more than doubled in Asia and the Middle East and Africa combined.
The deal, which has been valued at approximately $12 billion, was approved in April by shareholders of Starwood and Marriott.