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万豪国际(Marriott International)将成为全球提供客房总数最多的酒店集团，此前该集团以122亿美元达成收购喜达屋酒店及度假村集团(Starwood Hotels & Resorts)的协议，后者旗下拥有W Hotels、瑞吉(St Regis)以及喜来登(Sheraton)等品牌。

Marriott International is set to become the world’s largest hotel company by rooms offered after reaching a $12.2bn deal to acquire Starwood Hotels & Resorts, owner of brands including Sheraton, St Regis and W Hotels.

万豪在淘汰多家竞争对手后达成的这笔交易，将使得合并后的公司在全球拥有5500多家酒店（包括喜达屋最为知名的高端生活方式品牌），共计110万间客房。

The deal — which came after Marriott saw off several rivals — will create a company with a portfolio of 1.1m rooms in more than 5,500 hotels worldwide, including the upmarket lifestyle brands for which Starwood is best known.

2007年上一轮房地产繁荣达到顶峰之际，收购集团黑石(Blackstone)与希尔顿酒店集团(Hilton Hotels)达成了一项260亿美元的协议，将后者私有化。万豪此次收购是自那以后酒店业最大的一笔交易。随着入住率和客房价格超过金融危机前的高点（尤其是在美国），一股整合浪潮席卷了酒店业。

Marriott’s purchase represents the most significant deal in the hotel sector since the buyout group Blackstone struck a $26bn deal to take Hilton Hotels private in 2007, at the height of the previous property boom. A rush to consolidate has gripped the hotel industry as occupancy and room rates have surpassed the highs set before the financial crisis, particularly in the US.

万豪将进行近乎全股票的交易，相当于对喜达屋每股出价72.08美元，低于其上周结束时75美元的股价。

Marriott’s almost all-stock transaction values shares in Starwood at $72.08, below the $75 at which they finished last week.

每股喜达屋公司普通股将置换0.92股万豪普通股（共计价值约119亿美元）而剩下的以每股2美元的现金方式支付。喜达屋的投资者将拥有合并后公司37%的股份。

Marriott will pay 0.92 of its shares for each Starwood share — worth about $11.9bn, giving Starwood investors 37 per cent of the combined company with the remainder as a cash payment worth $2 a share.

喜达屋计划剥离旗下分时度假业务，并将其与另一家美国运营商进行合并，该交易于上月达成，价值约13亿美元。与万豪的交易独立于这笔交易。

The deal with Marriott is separate to Starwood’s planned spin-off and merger of its timeshare business with another US operator. That transaction, which was agreed last month, is worth about $1.3bn.

直到不久之前，喜达屋看似要落入另一家美国酒店运营商凯悦(Hyatt)手中，双方已进入深入讨论。至少一家中国旅游集团以及总部位于伦敦的洲际酒店集团(InterContinental Hotels Group)也表达了对喜达屋的兴趣。

Until recently, it seemed Starwood would fall into the clutches of another US-based hotel operator, Hyatt, which had been in advanced discussions. At least one Chinese leisure group and London-based InterContinental Hotels had also signalled interest in Starwood.