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S. Arabia, Mexico Okay Marriott Starwood Deal

BETHESDA, MD — Marriott International, Inc. announced in early July that it has received authorization from competition authorities in Saudi Arabia and Mexico to proceed with its previously announced acquisition of Starwood Hotels & Resorts in a merger transaction.

W Singapore - Sentosa Cove.

W Singapore – Sentosa Cove.

With these Saudi Arabia and Mexico authorizations, the only remaining country in which Marriott and Starwood require pre-merger authorization is China. Marriott and Starwood continue to cooperate with the Chinese regulatory agency (MOFCOM) and will be prepared to close the transaction promptly upon receiving authorization from China.

Stockholders of both Marriott and Starwood overwhelmingly approved proposals related to the transaction on April 8.

Until legal close, the companies will continue to operate as separate and independent entities.

Based in Bethesda, Md., Marriott International, Inc. has nearly 4,500 properties in 87 countries and territories. In fiscal year 2015, Marriott International reported revenues of more than $14 billion. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including The Ritz-Carlton, Bulgari, EDITION, JW Marriott, Autograph Collection Hotels, Renaissance Hotels, Marriott Hotels, Delta Hotels and Resorts, Marriott Executive Apartments, Marriott Vacation Club, Gaylord Hotels, AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, Fairfield Inn & Suites, TownePlace Suites, Protea Hotels and Moxy Hotels.

The company also manages the award-winning guest loyalty program, Marriott Rewards and The Ritz-Carlton Rewards program, which together comprise more than 56 million members.

Starwood Hotels & Resorts Worldwide, Inc. has nearly 1,300 properties in approximately 100 countries at its owned and managed properties.

Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: 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.