Anbang Insurance is acquiring Allianz’s operations in South Korea after dropping its offer to buy Starwood hotels. The deal is waiting for approval from South Korea’s financial regulator.
Marriott
Breaking News
Marriott and Starwood are agreeing on a new deal that would total in $13.6 billion for a merger of the two groups. The merger would form the world’s largest hotel operator with 30 brands and more than 5,500 hotels worldwide.
Cupertino, US-based cloud marketing startup Ensighten purchased London, UK-based tag management firm TagMan for an undisclosed sum to gain traction over its bigger rivals in the website marketing sector.
Marriott planned to sell its three Edition hotels in London, South Florida and Manhattan upon completion of their construction.
The value of hotel deals for the first five months of 2012 came to $5.1 billion, down from $6.4 billion a year earlier.
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