Marriott's acquisition of Starwood is close to completion, after shareholders of both companies approved proposals relating to the deal.
According to a joint statement, 97 per cent of Marriott’s shareholders voted in favour of the proposal, while 95 per cent of Starwood’s stockholders also voted to approve the transaction.
“With today’s successful stockholder approval milestone, we are that much closer to completing our transaction,” said Arne Sorenson, Marriott’s president and chief executive.
“Our teams continue to plan the integration of our two companies, and we are committed to a timely and smooth transition.”
Following the vote, an email was sent out to Starwood Preferred Guest (SPG) members, detailing the effects that the merger would have on the Starwood loyalty programme.
In it, Starwood confirmed that it did not anticipate launching a new combined loyalty programme with Marriott Hotel Rewards until 2018. This means that SPG will continue to run separately until then.
“In the meantime, we're actively exploring ways to build bridges between the two programs to further enhance your experience,” the statement said.
The Marriott–Starwood merger is expected to close by mid-2016, as both companies work to obtain remaining regulatory approvals, including those from the EU and China.
For more information, visit marriott.com and starwoodhotels.com
Clement Huang
