Business
Marriott acquires Africa’s largest hotel chain Protea
Thursday, January 23, 2014
Marriott had undertaken to take on all of Protea’s staff, who number around 15,000, he added.
Responding to suggestions that Marriott may have got Africa’s most prized hotel chain at a bargain, Gillis added: “both Marriott and Protea are moderately unhappy about the price that was paid,”.
On the Nasdaq in New York, Marriott’s share price rose a modest 0.5 percent in the first half hour of trade.
Copyright 2014 AFP
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