US hotel chain Marriott International is on track to win unconditional EU antitrust approval for its cash and share purchase of Starwood Hotels and Resorts Worldwide, a person familiar with the matter said on Tuesday.
The deal, currently worth $12.5 billion, will put Marriott’s brands including the Ritz-Carlton and Starwood’s Sheraton and Westin chains together to create the world’s largest hotel company and is one of many in the sector this year.
Consolidation has picked up pace amid rising competition from new rivals such as Airbnb and online travel sites such as booking.com and Tripadvisor. The merged company will have more than 5,500 hotels with 1.1 million rooms worldwide.
The European Commission has not called for a “state of play” meeting, the person said.
The EU competition enforcer only sets up such meetings when it has concerns a deal may hurt competition, giving parties an opportunity to offer concessions during a preliminary review or face a full-scale investigation.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI