After months of bureaucracy it is finally official: Marriott buy Starwood Hotels and thus gives life to the largest hotel chain in the world. The new behemoth will handle beyond that 5.700 structures and 1,1 million rooms in 110 countries.
With this maxi merger, Marriott more than doubles its presence in the Middle East, Asia and also in Italy, where it has 46 hotels from 13 brands. The acquisition, in fact, brings together in a single portfolio structures such as Cala di Volpe on the Costa Smeralda (Starwood) and Jw Venezia (leading hotel of the Marriott chain in Italy).
A few days ago the decisive go-ahead for the operation had arrived by the Chinese Ministry of Commerce. Previously, the merger had already received the green light from over 40 countries, including the US and the EU.
Last March Starwood had accepted an improved offer from Marriott, amounting to 13,6 billion dollars, following the decision of the Chinese Anbang Insurance Group to withdraw its purchase offer for 14 billion euro unexpectedly and without explanation.
Marriott believes the company could develop $250 million in annual operating synergies. The overall costs of the merger, according to forecasts, will instead amount to about 140 million dollars.
