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Marriott and Starwood stockholders to approve combination transactions next March 28

Marriott International and Starwood Hotels & Resort have just announced the separate, but concomitant meetings for their shareholders with a goal to merge their commercial operations.

These simultaneous shareholders meetings will take place next March 28 at 10 am (ET) at the two groups' respective headquarters, in Bethesda (Maryland) for Marriott, and Stamford (Connecticut) for Starwood Hotels & Resorts. The law prohibits any definitive fusion prior to the approval of the operation joint proxy statements by shareholders of the two groups.

Marriott International and Starwood Hotels & Resorts are cooperating with competition authorities worldwide as they seek regulatory approvals for the transaction, which the companies expect to close mid-2016. Respectively 3rd and 7th in the ranking worldwide of hotel groups in number of rooms (by MKG Consulting) prior to the merger, they will become the biggest player worldwide, with more than one million rooms (combined total as per January 1, 2015 figures from MKG Consulting), of which close to 800,000 are on the upscale alone.

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