Marriott International to buy Starwood Hotels in €12.2bn deal to create world’s biggest hotel chain

Marriott International will buy Sheraton owner Starwood Hotels & Resorts Worldwide in a $12.2bn (€11.4bn) deal to create the world’s largest hotel chain.

The combined company will own or franchise more than 5,500 hotels with 1.1m rooms worldwide, giving Marriott greater presence in markets outside the US.

Starwood, which gets nearly two thirds of its revenue from outside the US, had essentially put itself up for sale in April, when it said it was considering strategic alternatives.