Marriott announces deal to buy biggest African hotel chain

January 22, 2014
Shares
Marriott announces deal to buy biggest African hotel chain/AFP
Marriott announces deal to buy biggest African hotel chain/AFP

, JOHANNESBURG, January 22- US hotel giant Marriott announced on Wednesday it had finalised a deal to buy the South African headquartered Protea group, Africa’s largest hotel chain, for $186 million.

“Marriott and Protea plan to close the transaction on April 1, 2014,” the firm said in a statement.

The Protea has a high profile in South Africa and in total has 116 hotels and 10,148 rooms in seven African countries.

The purchase is subject to regulatory approval.

Shares

Latest Articles

Stock Market

Most Viewed