Final approval for Marriott-Starwood merger

Way is finally clear for world’s largest hotel company
The way is finally clear to create the largest hotel company in the world. Marriott International has passed its final hurdle to merge with Starwood Hotels and Resorts Worldwide.
The last approval received was from the Chinese Ministry of Commerce. Marriott now expects to complete the $12.2 billion transaction before markets open on Friday.
The deal was first announced last November but faced opposition from Chinese consortium Anbang Insurance Group, which submitted a rival bid for Starwood. Anbang eventually dropped out, but Chinese regulators asked for 60 more days to review the merger.
Combined, Marriott and Starwood will have 1.1 million rooms and more than 30 brands.
USA Today


Check Also

Swede becomes AccorHotels Europe CFO

Maria Larsson comes from global competitor Starwood

Miami, hotel market, boutique hotels, Langford, downtown, room rates, build, Brazilian market

Room rates fall in Miami, Florida

Revenue per available room is down in the city

Moxy, Marriott, Baltics, Palanga, Lithuania, Vilnius, Riga, Tallinn

Marriott to make strong Baltic entry

Giant aims to have hotels throughout region

ITB, China, Anbang, IHG, takeover, bid, M&A

China’s Anbang eyeing takeover of IHG?

Contradicting reports about group’s plans

tourism, direct booking, Hilton, loyalty, Marriott, AccoorHotels, Expedia, Booking

Hotel brands cheer direct bookings trend

But not all major hotel companies are so keen

Aloft, voice-activated, room, hotel, Starwood, technology, robot

Hotel chain debuts voice-activated rooms

Two Aloft hotels experiment with voice-activated function