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Hotel companies announce merger

by Andrea Waitrovich

Marriott International has agreed to acquire Starwood Hotels & Resorts Worldwide in a deal worth $12.2 billion.

The merger creates a “more comprehensive portfolio,” the companies said, with more than 5,500 hotels with 1.1 million rooms worldwide and combined fee revenue for the 12 months ended Sept. 30 of more than $2.7 billion.

2015 has been loaded with merger announcements. Recently, Campus Crest Communities agreed to be acquired by affiliates of Harrison Street Real Estate Capital for approximately $1.9 billion.

Other mergers announced this year:

Blackstone Group acquires BioMed Realty

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