Hotel companies announce merger
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