Marriott International Inc will buy Sheraton owner Starwood Hotels & Resorts Worldwide Inc in a $12.2 billion deal to create the world's largest hotel chain.<br />The combined company will own or franchise more than 5,500 hotels with 1.1 million rooms worldwide, giving Marriott greater presence in markets outside the United States.<br />Starwood, which gets nearly two-thirds of its revenue from outside the United States, had essentially put itself up for sale in April, when it said it was considering strategic alternatives.<br />Starwood, the owner of St. Regis and Aloft hotel brands, had reached out to InterContinental Hotels Group Plc, Wyndham Worldwide Corp and sovereign wealth funds for a possible deal since July, sources had told Reuters.
