Starwood Hotels & Resorts Worldwide acquired the Le Meridien brand today.
The management and franchise business for the 130-strong portfolio of hotels and resorts was sold for around $225m (£130m).
Steven Heyer chief executive of Starwood Hotels and Resorts said: “The acquisition of the Le Meridien brand is an exciting and significant development for Starwood that we believe further defines us as a truly global operator.”
The deal will significantly increase Starwood’s presence globally, with 43 properties in Europe, 47 in Africa and the Middle East, 28 in Asia Pacific and India and 12 in the Americas.
Heyer added: “Le Meridien hotels are located in many markets where we don’t already have a strong presence.”
He also announced plans to expand the brand in the USA, Latin America and Asia Pacific.
“It provides us with another growth engine for our development team bringing the current hotel brand portfolio to eight,” he said.
Starwood started negotiations to buy Le Meriden almost a year ago.
By Emily Manson
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