Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Feb. 3, 11:06 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
| This Slide: #29 of 87 |
Slide #29. Marriott International, Inc. — Protea Hospitality Holdings
Acquirer:
Marriott International, Inc. (NASDAQ:MAR)
Acquiree:
Protea Hospitality Holdings
Details:
Marriott International, Inc. said it has signed a letter of intent with Protea Hospitality Holdings of Cape Town, South Africa to acquire Protea Hotels' brands and its management business that operates or franchises 116 hotels across three brands with 10,184 rooms in South Africa and six other Sub-Saharan African countries. The transaction would nearly double Marriott's distribution in Africa to more than 23,000 rooms, and would also provide Marriott with a proven operational platform and leadership team to accelerate Marriott's expansion plans and solidify its leadership position in the dynamic and growing African hotel market.
Marriott International is an operator, franchisor, and licensor of hotel, residential, and timeshare properties under various brand names at different price and service points. Co. has two operating segments: U.S and Canada and International. Co.'s Luxury hotel brands include JW Marriott, The Ritz-Carlton, and St. Regis. Co.'s Premium hotel brands include Marriott Hotels, Sheraton, Delta Hotels, Marriott Executive Apartments, and Marriott Vacation Club. Co.'s Select hotel brands include Courtyard, Residence Inn, Fairfield, SpringHill Suites, Four Points, TownePlace Suites, Protea Hotels, Aloft Hotels, AC Hotels by Marriott, Element Hotels, and Moxy Hotels.
Marriott International SEC Filing Email Alerts Service
Open the MAR Page at The Online Investor »
|
||||||||||||||||||||||||
Open the MAR Page at The Online Investor (in a new window) »
 Free MAR Email Alerts:
Get SEC Filing Alerts Get Dividend Alerts 
|
Avg. Broker Rec.
 
|
Buy (2.77 out of 4) 15th percentile
(ranked lower than approx. 85% of all stocks covered)
Analysts' Target Price: MAR Stock Forecast Based on Zacks ABR data; powered by Xignite |
