Marriott International confirmed a $12.2 billion takeover of Starwood Hotels & Resorts Worldwide.

The deal will create the world’s largest hotel company with more than 5,500 hotels and 1.1 million rooms worldwide across 30 brands, creating annual revenue of $2.7 billion, eclipsing the likes of InterContinental Hotels Group.

Marriott said: “The transaction combines Starwood’s leading lifestyle brands and international footprint with Marriott’s strong presence in the luxury and select-service tiers, as well as the convention and resort segment, creating a more comprehensive portfolio.