EU antitrust authorities are set to wave through US hotel chain Marriott International’s cash and share purchase of Starwood Hotels and Resorts Worldwide Inc without demanding concessions, a person familiar with the matter said on Tuesday, Reuters reported.
The deal, currently worth US$12.5 billion, which will put Marriott’s brands including the Ritz-Carlton and Starwood’s Sheraton and Westin chains under one roof to create the world’s largest lodging company, is one of many in the hotel industry this year.
Consolidation has picked up pace amid rising competition from new rivals such as Airb’n’b and online websites such as booking.com and TripAdvisor.
European Commission spokesman Ricardo Cardoso declined to comment.