Starwood completes Le Méridien acquisition

Starwood Hotels & ResortsStarwood Hotels & Resorts Worldwide has acquired the Le Méridien brand and the related management and franchise business for the portfolio of 130 hotels and resorts globally for approximately $225 million, roughly equal to the amount of Starwood’s current investment, including accrued interest, in the debt of Le Méridien. This acquisition will significantly increase the company’s footprint in Europe, Africa, Middle East and Asia Pacific.

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