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Marriott Buying Starwood in Deal Valued at $12.2 Billion

  • Transaction will create world's largest hotel company
  • Starwood suitors said to include three Chinese buyers
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Starwood Capital CEO: Expect Consolidation Among Hotels

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Marriott International Inc. is buying Starwood Hotels & Resorts Worldwide Inc. in a deal valued at $12.2 billion to create the world’s largest hotel company, emerging as the surprise winner of a bidding war that reportedly included Hyatt Hotels Corp. and multiple Chinese suitors.

Marriott offered to pay $2 a share in cash and 0.92 of its own stock for Stamford, Connecticut-based Starwood, the companies said in a statement on Monday. The combined company will operate or franchise more than 5,500 hotels with 1.1 million rooms worldwide.