Hotel owners in New York and Chicago challenged Marriott’s acquisition of Starwood
According to announcement from March 21, 2016 Marriott has won the takeover of Starwood by proposing revised bid. Hence, by accomplishing this stage Marriott will hold a status of largest global hotel operating company.
Marriott and Starwood Shareholders Approve Merger
After a dramatic last few weeks in which Marriott International nearly lost out on its quest to acquire Starwood Hotels & Resorts to Chinese insurer Anbang and its investor group, both hotel companies hosted their respective shareholder meetings April 8 to endorse their newly agreed upon merger pact.