Marriott International signage is displayed outside company’s headquarters in Bethesda, Maryland, US. The US hotels giant Marriott International has announced it has completed its takeover of Starwood Hotels & Resorts, creating the world’s largest hotel company. Shareholders in both companies had voted in April to approve the takeover after the Chinese insurer Anbang abandoned efforts to acquire Starwood. “The new company will
operate or franchise more than 5,700 properties and 1.1mn rooms, representing 30 leading brands from the moderate-tier to luxury in over 110 countries,” Marriott said in a statement. The deal now puts it well ahead of competitors Hilton Worldwide and InterContinental Hotels Group. The merger with Marriott will also let Starwood remain under US management and group its brands with those of Marriott, such as Ritz-Carlton, Gaylord Hotels and JW Marriott. Marriott said it was confident the merger would help it reach $250mn in annual savings.
