Marriott becomes largest hotel chain in $12.2B deal to buy Starwood

Associated Press

NEW YORK

Hotel behemoth Marriott International is becoming even larger, taking over rival chain Starwood in a $12.2 billion deal that will catapult it to become the world’s largest hotelier by a wide margin.

The stock-and-cash deal, if completed, will add 50 percent more rooms to Marriott’s portfolio and give it more unique, design-focused hotels that appeal to younger travelers.

The acquisition is likely to start another round of hotel mergers.