Marriott and Protea Ink Acquisition Deal
Marriott and Protea Hotels have signed a definitive agreement detailing the planned acquisition of Protea’s 116 hotels in South Africa, Zambia, Nigeria, Nambia, Malawi,
Uganda and Tanzania. As part of the transaction, Protea Hospitality Holdings will create a property ownership company to retain ownership of the hotels it currently owns, entering into a long-term
management and lease agreement with Marriott. When the deal is completed, Marriott will become the largest hotel company in the Middle East and Africa region. The current plan is to finalize the transaction by April 1.
For more information visit marriott.com.