Marriott closes on Starwood buyout

Marriott International closed today on its $13 million purchase of Starwood Hotels & Resorts Worldwide.

The move brings together the Marriott, Courtyard and Ritz Carlton brands with Starwood's Sheraton, Westin, W and St. Regis properties.

The buyout creates the largest hotel chain in the world with 30 brands, over 5,800 properties and more than 1.1 million rooms in some 110 countries.

Read more from The Associated Press.