Marriott-Starwood merger closes today

The merger of Marriott International and Starwood Hotels & Resorts Worldwide will officially close today (Friday, 23 September), after China’s Ministry of Commerce approved the deal.

Having received the green light from European and US authorities, Chinese approval was the last regulatory hurdle preventing the merger from taking place.

But the two companies will now be able to proceed with their plans, with the transaction expected to be completed before the market opens this morning.

The merger, which will see Marriott International acquire Starwood for US$13.6 billion in cash and stock, will lead to the creation of the world’s largest hotel group, with a combined total of more than a million rooms.

You might also like

Comments are closed.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Close