starwood hotels and resorts
Marriott Receives Antitrust Clearance from the European Union to Acquire Starwood
Marriott | June 27, 2016
Marriott International, Inc. (NASDAQ: MAR) and Starwood Hotels and Resorts Worldwide (NYSE: HOT) today announced they have received unconditional clearance from the European Union for Marriott to acquire Starwood in a merger transaction. In announcing the decision in a press release issued by the European Commission, the Commissioner for Competition, Margaret Vestager, said, "This is an important merger for the hotel industry and its customers. Our investigation confirmed that the hotel sector will remain competitive for customers in Europe following the merger, so I am pleased that the Commission was able to clear the transaction quick...
Starwood Releases Plan to Spin-off Vacation Ownership Business
Starwood Hotels & Resorts Worldwide, Inc. | February 10, 2015
February 10, 2015 - STAMFORD, Conn. - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced plans to spin-off its vacation ownership business, Starwood Vacation Ownership ("SVO"), into a separate publicly traded company. In addition to accelerating Starwood's ongoing 'Asset Light' transformation, the transaction will create a new pure-play vacation ownership company with a seasoned management team and a strong balance sheet to take advantage of increasing growth opportunities within the timeshare industry. The transaction, which is expected to be tax-free to Starwood shareholders, will be effected through a pro rata d...
Starwood Hotels & Resorts Expands Presence in Saudi Arabia with Three New Hotels in Makkah
Starwood Hotels & Resorts Worldwide, Inc. | June 24, 2013
Scheduled to Debut in 2015, the New Sheraton, Westin and Four Points by Sheraton Hotels Add Nearly 1,500 Rooms to the Holy City MAKKAH, Saudi Arabia---Jun. 25, 2013 -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) has signed an agreement with Jabal Omar Development Company to open three new hotels in the Holy City of Makkah. As part of the Jabal Omar Development project, Starwood will add 1,496 rooms to the city under the company's Sheraton®, Westin® and Four Points® by Sheraton brands when the hotels open in 2015. Starwood currently operates 10 properties in Saudi Arabia, the second largest market for the company in the Midd...
