Marriott Vacations Worldwide has agreed to buy timeshare operator ILG for around $4.7bn in a cash and stock deal.
Starwood Hotels & Resorts is set to be acquired by Marriott International in a transaction which will create the world's largest hotel company.
The biggest barrier for two-thirds of small and medium sized building firms was the lack of available land, according to a new industry survey, which has resulted in a skewing of the market towards larger operators in recent decades.
Marriott International has received approval from the Chinese Ministry of Commerce for its merger with Starwood Hotels & Resorts.
Stocks on Wall Street were trading slightly lower on Friday - albeit off their lows of the session - despite a solid reading on the state of the jobs market, as a large drop in crude oil futures and losses overnight in Japanese stocks dampened sentiment.
The bidding war for Starwood Hotels & Resorts heated up as a consortium led by Anbang Insurance Group lifted its offer for the company to $14bn, trumping Marriott International's $13.6bn.
Starwood Hotels & Resorts has agreed to a revised bid from Marriott International at $79.53 per share or $13.6bn, which trumps the $13.2bn offered by a consortium led by China's Anbang Insurance Group.
Marriott International has agreed to buy rival Starwood Hotels & Resorts for $12.2bn in a deal that will create the world's largest hotel company.
AIM-listed housebuilder Mar City tripled profits in the first half of the year thanks to its transformational fundraising and land acquisitions last December, which are expected to boost the second half even more.
Half-year pre-tax profit up 9.4 per cent; Sees evidence of consumer confidence returning; On track to open at least 27 new pub-restaurants this year
London- and Midlands-focused housebuilder Mar City gave an upbeat outlook for 2014 after delivering a threefold increase in profits last year.
FTSE 100 edges higher, global equities close to six-year high; US markets closed for Thanksgiving; Housing, tobacco stocks pressured by government policy.
Housebuilder Mar City said trading in the second half of the year has been "significantly stronger" than the previous year.
Syria concerns continue to recede; S&P at highest level since August 13th; Apple disappoints with latest iPhone models.
Citigroup to lay-off 2,200 workers at mortgage unit -Fox Business; Apple shares off 6 per cent; Mortgage applications down on the week
Specialist house builder Mar City posted profits in line with expectations as it reported 'considerable' progress in the six months to June 30th.