Why did Marriott acquire Starwood?

On the morning of 165438+1October16, US local time, Marriott International Hotels Group announced the acquisition of Starwood Hotels & Resorts International Group (hereinafter referred to as "Starwood") for 122 billion US dollars in cash and stock. According to the ranking of "Top 325 Global Hotel Groups" published by the authoritative American hotel magazine "Hotels" in 2065438+04, Hilton ranks first in the world, with the total number of rooms exceeding 715062 million and the total number of hotels being 4,322. Marriott International originally ranked second, with 7 1.4765 rooms and 4 1.75 hotels. After the acquisition, Marriott will have 5,500 properties around the world, with a total of about 165438+ 10,000 rooms, which is equivalent to a 50% increase in hotel rooms. This transaction will create the largest hotel company in the world. Tencent Finance confirmed the authenticity of the news from Starwood Greater China. The two companies said that the transaction is expected to be completed in 20 16 years. Arne Sorenson, CEO of Marriott International, said on Twitter that the acquisition of Starwood will create a unique hotel brand, and the combined company will have a diversified professional team. Arne said: "This is the biggest acquisition in Wanhao's 88-year history. First, we can create value for the shareholders of the two companies. Secondly, we believe that expanding the scale will enable us to remain competitive in a rapidly changing market. "