Marriott to buy Protea for R2bn

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Johannesburg - US hotel giant Marriott announced on Wednesday it had finalised a deal to buy the South African-headquartered Protea group, Africa's largest hotel chain, for $186 million.

“Marriott and Protea plan to close the transaction on April 1, 2014,” the firm said in a statement.

The Protea has a high profile in South Africa and in total has 116 hotels and 10,148 rooms in seven African countries.

The purchase is subject to regulatory approval. - Sapa-AFP

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