Marriott Completes Deal to Acquire Protea Hospitality
Tuesday April 1st, 2014 - 9:51AM E
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
BETHESDA, MD—Marriott International, Inc. has completed the acquisition of the 116-hotel Protea Hospitality Group, based in South Africa.
With the deal, the company nearly doubled the company's presence in the Middle East and Africa region to more than 160 hotels and 23,000 rooms. Marriott said that its pipeline of new hotels in the Middle East and Africa, including Protea's pipeline, is now more than 65 hotels and 14,3000 rooms, including more than 20 hotels and 3,000 rooms in Sub-Saharan Africa.
Tags: Marriott • Protea • Hospitality • Acquisitions •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.