It was on Friday that the takeover by the US hotels giant, Marriott International for Starwood Hotels and Resorts was completed. It is the world’s largest hotel company now.
The takeover
In April the efforts by Chinese insurer Anbang left his efforts to acquire the Starwood company. After this the shareholders of both the companies voted to proceed with this takeover. The new company has more than 75,000 properties and 1.1 million rooms. These represent 30 leading brands from the moderate to luxury categories in more than 110 countries. Thus, it has become way more than huge than its rival Hilton Worldwide and Intercontinental Hotel Group.
Starwood remains under the US management group still while it is now associated with Marriott’s brands like Gaylord Hotels, JW Marriott and Ritz Carlton too. Marriott is very confident that it will reach its $250 million annual savings goal this way.
