Marriot & Starwood Complete Merger
Marriott International has completed the acquisition of Starwood Hotels & Resorts Worldwide, creating the world’s largest hotel company. The merger of the two hotel giants was finalized Sept. 23, after the deal received the go-ahead from the Chinese Ministry of Commerce, the last regulatory approval required to complete the merger which was announced last November.
Clearing this last hurdle, Marriott and Starwood were able to close the transaction. The deal gave Starwood shareholders $21 in cash and 0.80 shares of Marriott International Class A common stock for each share of Starwood Hotels & Resorts Worldwide common stock.
For travelers, Marriott announced that, immediately upon completion of the merger, member status in Marriott Rewards – which includes The Ritz-Carlton Rewards – and Starwood Preferred Guest (SPG) will be matched across both programs, enabling members to transfer points between the two when they link their accounts.
Find out more at marriott.com.