Marriott is in the process of completing its $13.6 billion takeover of Starwood Hotels & Resorts Worldwide. This deal will extend the company's global reach even further and should give it a decisive advantage over rivals such as Hilton and InterContinental Hotels.
The merger will create a company with more than 1.1 million rooms in some 5,500 properties. It has already been approved by regulatory authorities representing more than 40 countries worldwide, including the U.S., the European Union, Canada, Japan, Mexico, South Africa, South Korea and Turkey.
The only holdout is China, where authorities are still reviewing the deal. But when it gets the approval of China's Ministry of Commerce, as it likely will, that could provide a big boost to the stock price. A decision is expected in the next 60 days.
"With daily room rates and occupancy levels at all-time highs in many major markets, basic economics dictate that less competition will only lead to even higher prices and more challenging negotiations," concluded a report from CWT Solutions Group, a travel industry consulting group.
The group found that Marriott will have nearly one-third -- and in some cases, half -- of the corporate travel hotel spend in 14 of the world's top 20 cities, including New York, Chicago, Mexico City and Shanghai.
The combined company will also have an advantage over its competitors in gathering data on the preferences and future plans of millions of travelers.
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