World Economy

Starwood, Marriott to Merge

Starwood, Marriott to MergeStarwood, Marriott to Merge

Shareholders of Starwood and Marriott have thrown their weight behind a merger of the two hotel business giants in the US, DW reported. The tie-up will create the world’s largest hotel chain, but Airbnb is a force to reckon with. Friday’s votes by Starwood and Marriott shareholders in favor of a merger ended weeks of a bidding battle in which China-based Anbang unsuccessfully tried to take Starwood out of the proposed inter-US tie-up with an all-cash bid. But after Anbang withdrew from its own bid, without saying why, only the shareholders of the two US hotel business giants could have thwarted the deal.