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Exclusive - EU set to clear unconditionally Marriott, Starwood deal: source

Reuters

BRUSSELS (Reuters) - EU antitrust authorities are set to wave through U.S. hotel chain Marriott International's (MAR.O) cash and share purchase of Starwood Hotels and Resorts Worldwide Inc (HOT.N) without demanding concessions, a person familiar with the matter said on Tuesday.

The deal, currently worth $12.5 billion, which will put Marriott's brands including the Ritz-Carlton and Starwood's Sheraton and Westin chains under one roof to create the world's largest lodging company, is one of many in the hotel industry this year.

Consolidation has picked up pace amid rising competition from new rivals such as Airbnb and online websites such as booking.com and Tripadvisor.

European Commission spokesman Ricardo Cardoso declined to comment.

(Reporting by Foo Yun Chee; editing by Barbara Lewis)