Marriott International Looks to Speed Up Expansion of Starwood Brands

Shares of Marriott International were nearly unchanged Monday morning after CEO Arne Sorenson said that the company is looking to accelerate the expansion of brands it acquired via the takeover of Starwood that was completed in September, Reuters reported.

Sorenson, who was speaking on the sidelines of an event in Berlin, said the company is planning to maintain the same rate of expansion for the brands as before the deal, which would imply faster growth for the Starwood brands.

Sorenson said Marriott would open a new group hotel at an average rate of every 15 hours in 2017 and also did not rule out further additions to Marriott’s portfolio.

By Brad Salt