Introducing the world’s largest hotel company: Marriott International. The company that John Willard Marriott in 1927 was (at least until today) composed of 12 brands, including EDITION Hotels, Ritz-Carlton, Moxy Hotels and Bulgari.

It was announced this morning that the hotelier is inking a merger agreement that will combine Starwood Hotels and Resort's leading lifestyle hotels with Marriott's luxury and select-service brands. If Starwood doesn't sound familiar, it is perhaps better known for its diverse global brands – the likes of Westin, Sheraton, St. Regis, Le Méridien and The Luxury Collection.

According to the official statement from Marriott, the merged company will offer broader choice for guests with a total of 30 brands, and will also unlock additional value for Marriott and Starwood shareholders. The companies combined will operate or franchise more than 5,500 hotels with 1.1 million rooms worldwide.

“So what do we do?” mused Marriott CEO Arne Sorenson. “First, we want to expand our offerings to ensure have the right product in the right place to serve our loyal guests and capture new ones. Second, we want to be big enough to be able to cost-effectively invest in marketing and technology to stay front and center for our guests. Third, we want to have the best loyalty programs in the business. This merger does all that,” he explained on his LinkedIn page.

Sorenson added that travellers are becoming evermore sophisticated in their expectations and the marketplace continues to evolve – hence Marriott is striving to offer more choices and an “even more powerful” portfolio. He also explained he will remain president and CEO of Marriott International following the merger and Marriott's headquarters will remain in Bethesda, Maryland.

Marriott's Board of Directors following the closing will increase from 11 to 14 members with the expected addition of three members of Starwood’s board. Reuters and other have cited the deal to be worth $12.2 billion.