M&A Deal Summary

Marriott International Acquires Starwood Hotels & Resorts Worldwide

On March 21, 2016, Marriott International, Inc. acquired leisure company Starwood Hotels & Resorts Worldwide, Inc. for 13.6B USD

Acquisition Highlights
  • This is Marriott International’s 2nd transaction in the Leisure sector.
  • This is Marriott International’s 1st largest (disclosed) transaction.
  • This is Marriott International’s 1st transaction in the United States.
  • This is Marriott International’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2016-03-21
Target Starwood Hotels & Resorts Worldwide, Inc.
Sector Leisure
Buyer(s) Marriott International, Inc.
Deal Type Add-on Acquisition
Deal Value 13.6B USD
Advisor(s) Lazard Ltd.
Citigroup Investment Banking (Financial)
Cravath, Swaine & Moore LLP
Gibson, Dunn & Crutcher LLP (Legal)

Target

Starwood Hotels & Resorts Worldwide, Inc.

Stamford, Connecticut, United States
website
Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company with more than 1,270 properties in some 100 countries and over 180,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: St. Regis, The Luxury Collection, W, Design Hotels, Westin®, Le Méridien, Sheraton, Four Points by Sheraton, Aloft, Element, and the recently introduced Tribute Portfolio™. Starwood was formed in 1969 and is based in Stamford, Connecticut.

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Buyer(S) 1

Buyer

Marriott International, Inc.

Bethesda, Maryland, United States

website


Category Company
Founded 1927
SectorLeisure
Employees121,000
Revenue 10.6B USD (2020)
DESCRIPTION
Marriott's corporate headquarters in Bethesda, Maryland.
Marriott's corporate headquarters in Bethesda, Maryland.

Marriott is a worldwide operator, franchisor, and licensor of hotels and timeshare properties under numerous brand names at different price and service points. Marriott also operates, markets, and develops residential properties and provide services to home/condominium owner associations. Marriott was formed in 1927 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 2 of 3
Sector (Leisure) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-22 Protea Hospitality Holdings

Western Cape, South Africa

Protea Hotels is a hotel group in Africa with an extensive footprint; more than 116 hotels throughout South Africa and six other African countries, including Zambia, Nigeria, Namibia, Malawi, Uganda and Tanzania. The company was founded in 1984 and has grown its portfolio and brands since. The group comprises of two brands, namely the mid-up market Protea Hotels (including the lifestyle brand Protea Hotel Fire & Ice!) brand and the superior deluxe African Pride Hotels, Lodges and Country Houses brand.

Buy $186M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-16 Avendra LLC

Rockville, Maryland, United States

Avendra LLC is a hospitality procurement services provider and hospitality expertise, purchasing power, services and software to help more than 8,000 customers impact the bottom line, improve operational performance, and better serve guests. Avendra LLC was founded in 2000 and is based in Rockville, Maryland

Sell $1.4B