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Slide #29. Marriott International, Inc. — Protea Hospitality Holdings
Marriott International, Inc. (NASDAQ:MAR)
Protea Hospitality Holdings
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 a worldwide operator, franchisor, and licensor of hotel, residential and timeshare properties under various brand names at different price and service points. Co. has operations in the following reportable business segments: North American Full-Service, which includes Co.'s Luxury and Premium properties located in United States and Canada; North American Limited-Service, which includes Co.'s Select properties located in United States and Canada; and Asia Pacific, which includes all properties in Co.'s Asia Pacific region.
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Hold (2.35 out of 4)
(ranked lower than approx. 88% of all stocks covered)
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