Marriott International signed a definitive agreement to acquire South African hotel company Protea Hospitality Holdings

for 2.02 billion rand (US$186 million). The agreement, which the companies expect to close on April 1 pending regulatory approval, gives Marriott Protea's three brands—Protea Hotels, Protea Hotel Fire & Ice and African Pride Hotels, totaling 116 properties in South Africa and six other African countries—and its management company. After the deal is closed, Marriott will manage about 45 percent of the 10,148 rooms in Protea's portfolio, franchise about 39 percent and lease the remaining 16 percent. The deal nearly doubles Marriott's current distribution in the Middle East/Africa region and will make it the largest hotel company in the region, according to Marriott.