Video: Marriott's Arne Sorenson on Protea Hotels acquisition—and more

Arne Sorenson, CEO and president of Marriott International, discusses his hotel's plans for global expansion and creating jobs in the industry. Marriott International and South Africa's Protea Hospitality Holdings announced that they have signed definitive agreements for the purchase by Marriott of Protea's three brands and management company for $186 million. Here's our full report, with the video below.

Read more on

Suggested Articles

Thomas C. Morey will retain his role as general counsel on an interim basis until his successor is appointed.

This week has been about the economy and budget sector, the planet and whether the Reuben Brothers go clubbing a lot.

The budget hotel sector has seen its focus expand to look not only at price, but at design and concept, as guests have become more demanding.