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Starwood Hotels and Resorts Worldwide, Inc. is an American hotel and leisure company headquartered in Stamford, Connecticut. One of the world’s largest hotel companies, it owns, operates, franchises and manages hotels, resorts, spas, residences, and vacation ownership properties under its 11 owned brands. As of 1 December 2014, Starwood Hotels and Resorts owned, managed, or franchised over 1,200 properties employing over 180,400 people, of whom approximately 26% were employed in the United States.It is a subsidiary of Marriot International.
On November 16, 2015, Marriott International announced it would purchase Starwood Hotels and Resorts Worldwide for $12.2 billion, creating the world’s largest hotel chain.
However, on March 14, 2016 Starwood announced it was terminating the merger agreement with Marriott, instead favoring a $12.8 billion offer from a consortium led by Anbang Insurance Group and including private equity firm J.C. Flowers & Co. and Primavera Capital.
After Marriott raised their bid to $13.6 billion on March 21, Starwood terminated the Anbang agreement and proceeded once again with the merger with Marriott. In April 2016 Marriot bought Starwood after Anbang Group walked away from negotiations.