The deal would see Marriott acquiring 116 hotels in South Africa and six other sub-Saharan countries.
Protea owns the Protea Hotels, Protea Hotel Fire & Ice! and African Pride Hotels brands. The company runs 80 hotels in South Africa, with 10,184 rooms, as well as properties in Malawi, Namibia, Nigeria, Tanzania, Uganda and Zambia. Protea Hotel Fire & Ice! Menlyn in Pretoria is currently under construction and is expected to open next year.
The transaction could close in the first three months of 2014.