Marriott, Starwood deal passes regulatory hurdle, merger likely to pass

Marriott Starwood

Marriott International's acquisition of Starwood Hotels & Resorts Worldwide has cleared the premerger antitrust review in the U.S.

The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, a set of amendments to the antitrust laws of the United States, expired in connection with Marriott's proposed acquisition of Starwood, satisfying one of the closing conditions of the pending combination transactions. 

In addition, the companies announced that the premerger waiting period under Canadian law has expired and that the Competition Bureau of Canada has issued a "no-action letter" in respect of the proposed transaction.  The companies are continuing to cooperate with competition authorities in other jurisdictions worldwide to obtain regulatory approvals for the transaction.

As previously announced, both companies set March 28 as the date of their separate special stockholder meetings to approve the combination transactions. The companies expect to close the transaction in mid-2016, subject to stockholder approvals, receipt of additional regulatory approvals, Starwood's divestiture of its vacation ownership business, and satisfaction of other customary conditions precedent.

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Suggested Articles

A new entity will combine a number of brands, including Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25h and 21c Museum Hotels.

Service Properties Trust, Host Hotels & Resorts, Caesars Entertainment and Vici Properties have completed multimillion-dollar hotel deals.

Serving as an attractive alternative to traditional financing arrangements, hotel sale-leasebacks may offer a solution for many businesses.