Late entrant in the Starwood chase, Marriott has managed to pip all it’s competitors, including Hyatt, Intercontinental and a few others and acquire the hospitality major for $12.2 Billion.
This acquisition has firmly placed Marriott as the largest hospitality company in the World, way ahead of it’s competition. Though having similar bids, the Marriott bid was preferred by the Starwood stakeholders, as they felt that in the long run, Marriott offers a better scope. Having one of the lowest cash component ever, the deal includes $11.9 Billion in stock, and only $340 Million in cash.
Post merger, the combined entity will have almost 6 thousand owned or franchised properties with approx. 1.1 million keys around the world.
