Marriott International
Acquisitions
5
Major Deals Covered
$14.9B
Disclosed Deal Value
Marriott's largest disclosed acquisition here is Starwood Hotels & Resorts Worldwide for $13.6B in 2016. This page covers 5 major deals from 1995 to 2023, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Starwood Hotels & Resorts Worldwide | 2016 | $13.6B | Marriott acquired Starwood Hotels & Resorts Worldwide in a cash-and-stock deal valued at about $13.6 billion, adding brands including Sheraton, Westin, W Hotels, St. Regis, The Luxury Collection, Le Meridien, Aloft, Element and Four Points, plus the Starwood Preferred Guest loyalty program. |
| Renaissance Hotel Group | 1997 | $1.0B | Marriott acquired Renaissance Hotel Group which included the Renaissance Hotels, Ramada International, and New World hotel brands for approximately $1 billion to significantly expand its international hotel footprint, particularly in Europe and Asia-Pacific where Renaissance had established a meaningful presence. The acquisition was strategic in the context of the late 1990s global hotel consolidation wave and reflected Marriott's conviction that multi-brand portfolio scale would become the defining competitive advantage in global lodging. |
| Ritz-Carlton Hotel Company | 1995 | $200.0M | Marriott bought a 49% stake in The Ritz-Carlton Hotel Company in 1995 for about $200 million and acquired nearly all of the remainder in 1998, gaining the most recognized name in luxury hotels. |
| City Express Hotels (Hoteles City Express) | 2023 | $100.0M | In 2023 Marriott bought the City Express brand portfolio from Hoteles City Express for $100 million, giving it a midscale brand with about 150 hotels, mostly in Mexico. |
| Elegant Hotels Group | 2019 | Undisclosed | In 2019 Marriott acquired Elegant Hotels Group, owner of seven resorts in Barbados, adding Caribbean resort and all-inclusive experience. |
2023
$100M
In 2023 Marriott bought the City Express brand portfolio from Hoteles City Express for $100 million, giving it a midscale brand with about 150 hotels, mostly in Mexico.
City Express by Marriott became Marriott's first midscale platform in Latin America and joined Marriott Bonvoy.
The deal started Marriott's broader midscale push, later followed by StudioRes and Four Points Flex.
2019
In 2019 Marriott acquired Elegant Hotels Group, owner of seven resorts in Barbados, adding Caribbean resort and all-inclusive experience.
The properties gave Marriott a base in Barbados and informed its later all-inclusive expansion.
The resorts joined the Autograph Collection and Marriott Bonvoy.
2016
$13.6B
Marriott acquired Starwood Hotels & Resorts Worldwide in a cash-and-stock deal valued at about $13.6 billion, adding brands including Sheraton, Westin, W Hotels, St. Regis, The Luxury Collection, Le Meridien, Aloft, Element and Four Points, plus the Starwood Preferred Guest loyalty program.
The Starwood acquisition transformed Marriott's competitive position in the luxury and lifestyle hotel segments, where Starwood brands particularly W Hotels, St. Regis, and the Aloft lifestyle concept had stronger urban millennial appeal than Marriott's more conservative brand aesthetics. The transaction also expanded Marriott's international footprint, as Starwood had historically invested more in emerging market development than Marriott, particularly in Asia-Pacific and the Middle East. The combined company surpassed Hilton Worldwide as the world's largest hotel company by room count and has maintained that position through subsequent organic growth.
The integration was more complex and protracted than initially projected, partly due to the 2018 data breach that emerged from Starwood's legacy reservation systems, and partly due to significant cultural differences between the two companies' management styles. Nevertheless, by 2019 the Bonvoy loyalty consolidation was complete, and the combined brand portfolio has delivered measurable RevPAR premium benefits in key markets. The acquisition remains the defining transaction in modern hotel industry history.
1997
$1.0B
Marriott acquired Renaissance Hotel Group which included the Renaissance Hotels, Ramada International, and New World hotel brands for approximately $1 billion to significantly expand its international hotel footprint, particularly in Europe and Asia-Pacific where Renaissance had established a meaningful presence. The acquisition was strategic in the context of the late 1990s global hotel consolidation wave and reflected Marriott's conviction that multi-brand portfolio scale would become the defining competitive advantage in global lodging.
The Renaissance acquisition added approximately 150 hotels across multiple continents and introduced Marriott to the upper-upscale boutique segment that Renaissance Hotels occupied. The New World brand gave Marriott meaningful presence in China at a time when the Chinese hotel market was beginning its notable growth phase, providing a geographic bridgehead that subsequent brand expansions could build upon.
Renaissance Hotels has remained in the Marriott portfolio as a successful upper-upscale lifestyle brand offering curated local cultural experiences, and it has expanded to approximately 170 properties globally. The New World Hotels brand was eventually phased out as Marriott repositioned its Chinese portfolio around its stronger global brands.
1995
$200M
Marriott bought a 49% stake in The Ritz-Carlton Hotel Company in 1995 for about $200 million and acquired nearly all of the remainder in 1998, gaining the most recognized name in luxury hotels.
Ritz-Carlton gave Marriott a top-tier luxury brand to compete with Four Seasons and Mandarin Oriental and later anchored branded residences and the Ritz-Carlton Yacht Collection.
The Ritz-Carlton remains the flagship of Marriott's luxury tier.
Growth comes from adding rooms rather than buying buildings. Marriott signed nearly 1,200 organic deals (about 163,000 rooms) in 2025 and posted record signings in the first half of 2026. Priorities include conversion-friendly brands and collections, midscale expansion (City Express by Marriott, StudioRes, Four Points Flex), luxury and all-inclusive resorts, Homes & Villas by Marriott Bonvoy, and deeper Bonvoy monetization through co-branded cards.
Marriott makes money mainly from fees. Franchise fees ($3.325B in FY2025) come from owners who license a Marriott brand, reservation system and Bonvoy distribution; this line also includes co-branded credit card and residential branding fees. Base management fees ($1.322B) and incentive management fees ($791M) come from hotels Marriott operates for owners. A much larger cost reimbursement line ($19.204B) passes through property-level and centralized program costs, such as hotel staff at managed properties and loyalty, and largely nets out against matching expenses. Owned, leased and other revenue was $1.679B.
In September 2016, Marriott acquired Starwood Hotels & Resorts Worldwide for $13.6 billion, creating the largest hotel company on earth, adding 11 well-known brands (Sheraton, Westin, W Hotels, St. Regis, Aloft, Element) and 1,300 properties.
Marriott bought a 49% stake in The Ritz-Carlton in 1995 for about $200 million and acquired nearly all of the rest in 1998.
In March 1997, Marriott acquired Dutch-based Renaissance Hotel Group for $1.0 billion, instantly adding the Renaissance and New World hotel brands and 150 upscale properties across 38 countries, particularly expanding in Europe and Asia.
In 2023 Marriott acquired the City Express brand portfolio from Hoteles City Express for $100 million, adding about 150 midscale hotels, mostly in Mexico, as City Express by Marriott.
In 2015, Marriott acquired Canadian hotel brand Delta Hotels and Resorts for $135 million, adding 38 upscale full-service hotels and making Marriott the largest full-service lodging company in Canada.
In 2012, Marriott acquired the management rights and brand of Gaylord Hotels from Ryman Hospitality Properties for $210 million, adding giant convention resort properties (Gaylord Opryland, Gaylord Palms) to dominate the US group meeting industry.
In 2014, Marriott acquired South Africa's Protea Hospitality Group for $186 million, adding 116 hotels and instantly becoming the leading hotel company across Sub-Saharan Africa.
In 2011, Marriott formed a joint venture with Spanish hotelier Antonio Catalán to acquire AC Hotels, expanding the sleek urban European lifestyle brand into over 200 locations worldwide as 'AC Hotels by Marriott'.
In 2016, Marriott executed the absolute largest merger in hospitality history, acquiring Starwood Hotels (owner of W, St. Regis, and Sheraton) for a massive $13.6 billion. The deal was incredibly hostile; a massive Chinese insurance conglomerate (Anbang) aggressively tried to outbid Marriott at the last minute. Marriott ultimately won, instantly becoming the largest hotel chain on Earth and acquiring the highly coveted SPG loyalty program.
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