BETHESDA, MD — Marriott International, Inc. and Starwood Hotels and Resorts Worldwide announced June 27 they have received unconditional clearance from the European Union for Marriott to acquire Starwood in a merger transaction.
St. Regis, Mexico City.
“This is an important merger for the hotel industry and its customers. Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger, so I am pleased that the Commission was able to clear the transaction quickly,” said Margaret Vestager, the commissioner for competition, in a press release issued by the European Commission announcing the decision.
The closing of the proposed merger is subject to obtaining additional antitrust clearances, including in China, and satisfying other customary closing conditions that are in the merger agreement. European Union clearance represents satisfaction of a major closing condition to the proposed merger.
Until legal close, the companies will continue to operate as separate and independent entities.
On April 8, stockholders of both Marriott and Starwood overwhelmingly approved proposals related to the transaction, and Marriott and Starwood anticipate closing the transaction in July.
Marriott International, Inc. is a lodging company based in Bethesda, Maryland, USA, with nearly 4,500 properties in 87 countries and territories. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton, JW Marriott, Autograph Collection Hotels, Renaissance Hotels, Marriott Hotels, Delta Hotels and Resorts, Gaylord Hotels, Courtyard, Residence Inn, SpringHill Suites, Fairfield Inn & Suites, TownePlace Suites and Moxy Hotels.
The company also manages the Marriott Rewards and The Ritz-Carlton Rewards loyalty programs.
Starwood’s portfolio includes nearly 1,300 properties in approximately 100 countries. The company is a fully integrated owner, operator and franchisor of hotels, resorts and residences under such brands as St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Tribute Portfolio, Four Points by Sheraton, Aloft, Element, along with an expanded partnership with Design Hotels. The company also offers the Starwood Preferred Guest (SPG) loyalty program.