Nov 16, 2015, 4:19 am
Last edit by: Schutzee
November 16, 2015
Marriott Shareholder News Release :
http://investor.shareholder.com/mar/...leaseID=942791
Starwood Investor News Release :
https://s1.q4cdn.com/483583335/files...wood-FINAL.pdf
Marriott CEO Linkedin Post:
https://www.linkedin.com/pulse/marri...-arne-sorenson
November 16, 2015
November 16, 2015
March 01, 2016
March 14, 2016
Announcement that a consortium including the Chinese company Anbang has made an unsolicited rival bid.
http://www.cnbc.com/2016/03/14/starw...6-a-share.html
March 18, 2016
Starwood determines that the Anbang bid is 'superior' and notifies Marriott of the intention to terminate the merger agreement.
Marriott have until March 28 to make a counter-bid that is as good as or better than Anbang.
Starwood is postponing its stockholder vote, which was scheduled for Monday, March 28th, to a new date to be determined after consultation with Marriott. Starwood’s Board has not changed its recommendation in support of Starwood’s merger with Marriott.
http://www.cnbc.com/2016/03/18/starw...e-in-cash.html
March 21, 2016
Starwood and Marriott sign a revised merger agreement after Marriott submit an increased bid which values Starwood stock at $85.36. This is now the 'superior' proposal.
Under the revised merger agreement Starwood is not allowed to engage in discussions with Anbang. However, Anbang may make another unsolicited offer, up until the time of the Starwood shareholder vote, which is April 8, 2016.
March 28, 2016
Starwood Hotels & Resorts Worldwide Inc. said it received a higher takeover offer from a group led by Anbang Insurance Group Co., putting the Chinese company back into battle with Marriott International Inc. for control of the hotel operator.
Starwood said it’s in negotiations with the Anbang group after receiving a nonbinding offer of $82.75 a share in cash, or about $14 billion, according to a statement Monday. That compares with Marriott’s stock-and-cash offer valued at $75.91 a share, or about $12.8 billion, based on March 24th’s closing price. Marriott, in its own statement Monday, reaffirmed its commitment to buy Starwood, saying its proposal offers stockholders greater long-term value.
Shares of Starwood rose 2.4 percent to $84.06 at 10:29 a.m. New York time. Marriott climbed 4 percent to $71.35.
The new offer from Anbang, which is working with J.C. Flowers & Co. and Primavera Capital, shows the insurer won’t easily back down as it seeks to build its hotel holdings. The Beijing-based company last year purchased Manhattan’s landmark Waldorf Astoria for $1.95 billion, and is in a deal to acquire luxury-property owner Strategic Hotels & Resorts Inc. for about $6.5 billion. Gaining Starwood would add brands such as Sheraton, W and St. Regis, as well as about $4 billion worth of real estate.
Starwood said it received a non-binding bid of $81 a share on March 26 from the Anbang group, which increased its offer after subsequent discussions. Starwood is negotiating terms of a binding proposal and said it will “carefully consider the outcome of its discussions with the consortium” in order to determine the best course of action for shareholders.
http://www.bloomberg.com/news/articl...er-from-anbang
March 31, 2016
China’s Anbang Drops Bid for Starwood Hotels
Operator of Sheraton, other hotels seen returning to Marriott’s previous takeover offer
http://www.wsj.com/articles/chinas-a...way-1459455942
BETHESDA, Md. and STAMFORD, Conn., Nov. 16, 2015 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced today that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will create the world's largest hotel company. The transaction combines Starwood's leading lifestyle brands and international footprint with Marriott's strong presence in the luxury and select-service tiers, as well as the convention and resort segment, creating a more comprehensive portfolio. The merged company will offer broader choice for guests, greater opportunities for associates and should unlock additional value for Marriott and Starwood shareholders. Combined, the companies operate or franchise more than 5,500 hotels with 1.1 million rooms worldwide. The combined company's pro forma fee revenue for the 12 months ended September 30, 2015 totals over $2.7 billion.
http://investor.shareholder.com/mar/...leaseID=942791
Starwood Investor News Release :
https://s1.q4cdn.com/483583335/files...wood-FINAL.pdf
Marriott CEO Linkedin Post:
https://www.linkedin.com/pulse/marri...-arne-sorenson
November 16, 2015
Originally Posted by Official Starwood Announcement on the SPG website
We’re excited to share the news that Starwood Hotels & Resorts will join together with Marriott International to create the world’s largest hotel company. For our Starwood Preferred Guest® (SPG®) members, this will mean even more choices in even more places, giving you access to 1.1 million rooms across 5,500 hotels and resorts in more than 100 countries.
We will work to bring you the very best of SPG and Marriott Rewards®, two of the most rewarding loyalty programs in our industry. Our members are at the core of everything we do, and that will not change.
This is the beginning of a long journey as we combine our two companies. For now, we remain separate, and there is no change to your SPG program status, your Starpoints® or your existing reservations. You will continue to earn Starpoints and elite stay/night credit for your stays, as well as bonus Starpoints for any promotions in which you are participating. There is no change to how you manage your SPG account or book reservations.
Over the coming months, as we have more to share, we’ll be sure to reach out to you by email, at spg.com and via twitter (@spg). In the meantime, we remain at your service wherever you need us — whether in our hotels, at spg.com, on the SPG mobile app or via our Customer Contact Centers.
Thank you for sharing your travels with us.
Chris Holdren
Senior Vice President, Starwood Preferred Guest
We will work to bring you the very best of SPG and Marriott Rewards®, two of the most rewarding loyalty programs in our industry. Our members are at the core of everything we do, and that will not change.
This is the beginning of a long journey as we combine our two companies. For now, we remain separate, and there is no change to your SPG program status, your Starpoints® or your existing reservations. You will continue to earn Starpoints and elite stay/night credit for your stays, as well as bonus Starpoints for any promotions in which you are participating. There is no change to how you manage your SPG account or book reservations.
Over the coming months, as we have more to share, we’ll be sure to reach out to you by email, at spg.com and via twitter (@spg). In the meantime, we remain at your service wherever you need us — whether in our hotels, at spg.com, on the SPG mobile app or via our Customer Contact Centers.
Thank you for sharing your travels with us.
Chris Holdren
Senior Vice President, Starwood Preferred Guest
Originally Posted by Official Starwood Announcement to FT members
Dear members,
Starwood Hotels & Resorts and Marriott International to Merge, Creating the World’s Largest Hotel Company, Best Loyalty Program
Today we’re excited to share the news that Starwood Hotels & Resorts will join together with Marriott International to create the world’s largest hotel company. For our SPG members, this will mean even more choices in even more places, giving you access to 1.1 million rooms across 5,500 hotels in more than 100 countries.
As we look to bring together the very best of Starwood Preferred Guest and Marriott Rewards, we are confident that together we will create the most rewarding loyalty program in our industry. Our members are at the core of everything we do, and that will not change.
Today is the first day of a long journey as we combine our two companies. For now, we remain separate, and there is no change to your Starwood Preferred Guest (SPG) program status, your Starpoints or your existing reservations. You will continue to earn Starpoints and elite stay/night credit for your stays, and bonus Starpoints for any promotions in which are you are participating. There is no change to how you manage your SPG account or book reservations.
Over the coming months, as we have more to share, you’ll continue to be among the first to hear by e-mail, at spg.com and via twitter (@spg). In the meantime, we remain at your service wherever you need us—whether in our hotels, at spg.com, the SPG mobile app, or via our Customer Contact Centers.
[email protected]
Thyetus Lee | Social Media Specialist
Starwood Customer Contact Centre (AP) Pte Ltd
Starwood Hotels & Resorts and Marriott International to Merge, Creating the World’s Largest Hotel Company, Best Loyalty Program
Today we’re excited to share the news that Starwood Hotels & Resorts will join together with Marriott International to create the world’s largest hotel company. For our SPG members, this will mean even more choices in even more places, giving you access to 1.1 million rooms across 5,500 hotels in more than 100 countries.
As we look to bring together the very best of Starwood Preferred Guest and Marriott Rewards, we are confident that together we will create the most rewarding loyalty program in our industry. Our members are at the core of everything we do, and that will not change.
Today is the first day of a long journey as we combine our two companies. For now, we remain separate, and there is no change to your Starwood Preferred Guest (SPG) program status, your Starpoints or your existing reservations. You will continue to earn Starpoints and elite stay/night credit for your stays, and bonus Starpoints for any promotions in which are you are participating. There is no change to how you manage your SPG account or book reservations.
Over the coming months, as we have more to share, you’ll continue to be among the first to hear by e-mail, at spg.com and via twitter (@spg). In the meantime, we remain at your service wherever you need us—whether in our hotels, at spg.com, the SPG mobile app, or via our Customer Contact Centers.
[email protected]
Thyetus Lee | Social Media Specialist
Starwood Customer Contact Centre (AP) Pte Ltd
The U.S. Department of Justice and the U.S. Federal Trade Commission will not challenge the proposed merger between Marriott International and Starwood Hotels & Resorts. The waiting period for Marriott's filing with the FTC under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the merger's first regulatory hurdle, expired on Monday, meaning the deal is cleared to proceed. The Competition Bureau of Canada also will not challenge the transaction. According to Marriott, the companies are cooperating with competition authorities in other parts of the world to obtain approval of the deal. Marriott and Starwood will hold separate stockholder meetings on March 28 to vote on the merger.
http://investor.shareholder.com/MAR/...leaseID=958056
http://investor.shareholder.com/MAR/...leaseID=958056
Announcement that a consortium including the Chinese company Anbang has made an unsolicited rival bid.
http://www.cnbc.com/2016/03/14/starw...6-a-share.html
March 18, 2016
Starwood determines that the Anbang bid is 'superior' and notifies Marriott of the intention to terminate the merger agreement.
Marriott have until March 28 to make a counter-bid that is as good as or better than Anbang.
Starwood is postponing its stockholder vote, which was scheduled for Monday, March 28th, to a new date to be determined after consultation with Marriott. Starwood’s Board has not changed its recommendation in support of Starwood’s merger with Marriott.
http://www.cnbc.com/2016/03/18/starw...e-in-cash.html
March 21, 2016
Starwood and Marriott sign a revised merger agreement after Marriott submit an increased bid which values Starwood stock at $85.36. This is now the 'superior' proposal.
Under the revised merger agreement Starwood is not allowed to engage in discussions with Anbang. However, Anbang may make another unsolicited offer, up until the time of the Starwood shareholder vote, which is April 8, 2016.
March 28, 2016
Starwood Hotels & Resorts Worldwide Inc. said it received a higher takeover offer from a group led by Anbang Insurance Group Co., putting the Chinese company back into battle with Marriott International Inc. for control of the hotel operator.
Starwood said it’s in negotiations with the Anbang group after receiving a nonbinding offer of $82.75 a share in cash, or about $14 billion, according to a statement Monday. That compares with Marriott’s stock-and-cash offer valued at $75.91 a share, or about $12.8 billion, based on March 24th’s closing price. Marriott, in its own statement Monday, reaffirmed its commitment to buy Starwood, saying its proposal offers stockholders greater long-term value.
Shares of Starwood rose 2.4 percent to $84.06 at 10:29 a.m. New York time. Marriott climbed 4 percent to $71.35.
The new offer from Anbang, which is working with J.C. Flowers & Co. and Primavera Capital, shows the insurer won’t easily back down as it seeks to build its hotel holdings. The Beijing-based company last year purchased Manhattan’s landmark Waldorf Astoria for $1.95 billion, and is in a deal to acquire luxury-property owner Strategic Hotels & Resorts Inc. for about $6.5 billion. Gaining Starwood would add brands such as Sheraton, W and St. Regis, as well as about $4 billion worth of real estate.
Starwood said it received a non-binding bid of $81 a share on March 26 from the Anbang group, which increased its offer after subsequent discussions. Starwood is negotiating terms of a binding proposal and said it will “carefully consider the outcome of its discussions with the consortium” in order to determine the best course of action for shareholders.
http://www.bloomberg.com/news/articl...er-from-anbang
March 31, 2016
China’s Anbang Drops Bid for Starwood Hotels
Operator of Sheraton, other hotels seen returning to Marriott’s previous takeover offer
http://www.wsj.com/articles/chinas-a...way-1459455942
Starwood: "Marriott and Starwood stockholders approve merger"
Feb 12, 2016, 2:25 pm
#1861
FlyerTalk Evangelist
Join Date: Jun 2004
Location: MSP
Programs: DL PM, MM, NR; HH Diamond, Bonvoy LT Gold, Hyatt Explorist, IHG Diamond, others
Posts: 12,159
We've discussed that a lot. They give 5 times the points for base hotel spend. They give 1 times the points for random credit card spend. They give different multipliers for other cases (e.g. credit card spend on hotel, status bonus).
Feb 12, 2016, 2:27 pm
#1862
FlyerTalk Evangelist
Join Date: Jun 2004
Location: MSP
Programs: DL PM, MM, NR; HH Diamond, Bonvoy LT Gold, Hyatt Explorist, IHG Diamond, others
Posts: 12,159
That may be. OTOH, it would be awfully unfair to hold SPG members who've already accumulated quite a few years towards LTP to the Marriott 2 million point standard (especially if a lower conversion rate like 2:1 or 3:1 is used), and yet not hold MR members to the SPG 10-year top-tier standard. Given how much harder it is to bank significant numbers of SPG points, unless they're going to give a 5:1 ratio credit or such (and see the liability discussion for the likelihood of that), this is likely to cause a number of SPG aspiring LTPs/LTGs to go elsewhere.
LTPs might get grandfathered in, but LTPs don't have as much incentive for continued annual spend, as they already are LTPs. Aspiring LTP/LTGs have a lot more incentive to spend a lot of money annually on this one hotel chain, unless MR blows it and makes them feel like they are devaluing the SPG members (see above paragraph).
LTPs might get grandfathered in, but LTPs don't have as much incentive for continued annual spend, as they already are LTPs. Aspiring LTP/LTGs have a lot more incentive to spend a lot of money annually on this one hotel chain, unless MR blows it and makes them feel like they are devaluing the SPG members (see above paragraph).
Feb 12, 2016, 4:00 pm
#1863
Suspended
Join Date: Dec 2014
Posts: 8,460
That may be. OTOH, it would be awfully unfair to hold SPG members who've already accumulated quite a few years towards LTP to the Marriott 2 million point standard (especially if a lower conversion rate like 2:1 or 3:1 is used), and yet not hold MR members to the SPG 10-year top-tier standard.
Feb 12, 2016, 4:53 pm
#1864
Join Date: Jan 2008
Location: SF Bay Area
Programs: UA 1K MM, Marriott Life Plat, various others of little note
Posts: 2,763
"Nov 13, 2008 RealDLInsider - Update
FTers,
Over the last several weeks, I’ve been pretty quiet out in FlyerTalk, primarily because we’ve been very busy here working to consolidate our two airlines and our respective loyalty programs. Wanted to share with you some of the highlights of where we’ve come, a few facts that you might find interesting, and what we are currently working on:
• Organizationally, we will be consolidating the NW and DL loyalty teams into one organization, and will likely be accomplishing this throughout 2009. We intend to consolidate the two loyalty programs into one program, that we are fully committed will be “best-in-class,” and will align the organization along with the program integration needs."
No need to be suspicious at all...
Feb 12, 2016, 4:58 pm
#1865
Join Date: Jan 2008
Location: SF Bay Area
Programs: UA 1K MM, Marriott Life Plat, various others of little note
Posts: 2,763
Marriott is a business, a successful one, and they will do what is in their best interest. My take is that they are buying starwood to get their hands on fancier properties, and the SPG program is secondary. They are making nice noises to avoid spooking anybody but those noises have nothing to do with their actual plan.
They certainly will take into account the likely attrition rate of SPG elites, but I doubt that will be their main consideration. If they merge the program has to apply to all equally and the population of MR members and franchisees is much larger than the SPG equivalents. So guess which factors will hold greater sway? I've said it before but I think it bears repeating, if Marriott wanted to offer SPG-style elite benefits, they would be doing it now. They are not, which tells you everything you need to know. The best predictor of future behavior is past behavior.
Last edited by Boghopper; Feb 12, 2016 at 5:23 pm
Feb 12, 2016, 7:39 pm
#1866
Join Date: May 2015
Location: LAX, BUR
Programs: AS,AA,JB, HH Gold, Starriott Titanium Elite, Hyatt Explorist, Global Entry
Posts: 1,933
There's no "fairness" or "justice" in any of this. noises have nothing to do with their actual plan.
I've said it before but I think it bears repeating, if Marriott wanted to offer SPG-style elite benefits, they would be doing it now. They are not, which tells you everything you need to know. The best predictor of future behavior is past behavior.
I've said it before but I think it bears repeating, if Marriott wanted to offer SPG-style elite benefits, they would be doing it now. They are not, which tells you everything you need to know. The best predictor of future behavior is past behavior.
Feb 13, 2016, 1:44 pm
#1867
Join Date: Jun 2008
Location: SFO
Programs: AA LTP 2MM, Marriott/SPG Rabid Plat w/Ambassador, HHonors Gold
Posts: 696
And go where? If they are "aspiring LTPs/LTGs" then LT status is a driver. Are they going to start over at Hilton? Marriott and Hilton's programs have more in common with each other than they do with any of the other programs. So why start over for similar benefits there when you already have a head start with the new Marriott?
So really, if LT status is a driver, then it will probably still be better for most to stick it out with the new Marriott even if they have that one-time points conversion at 2 or 3 to 1.
So really, if LT status is a driver, then it will probably still be better for most to stick it out with the new Marriott even if they have that one-time points conversion at 2 or 3 to 1.
Feb 13, 2016, 7:28 pm
#1869
Join Date: Jul 2001
Programs: Marriott LT Tit; Hyatt Explorist; Hilton CC Gold; IHG CC Plt; Hertz (MR) 5 star
Posts: 5,536
Hyatt and Hilton offered status matches and plenty of SPG FTers have already complained about those two chains since the matches were offered. So a few SPG elites go to different loyalty programs - I don't see it as a big deal and I'm sure that Marriott expects some attrition. You are placing far too great a value on those losses while ignoring the fact that Marriott's increased footprint will make them more attractive to some new customers.
Feb 14, 2016, 5:11 am
#1870
Join Date: Sep 2006
Location: San Diego
Programs: UA LTP, AA LTG, DL Plat, Marriott LTT, HH Diamond
Posts: 865
Feb 14, 2016, 5:24 am
#1871
Join Date: Sep 2008
Location: AUS
Programs: BAEC Gold, AA PPro, Hyatt Globalist, Amex Plat
Posts: 7,041
Feb 14, 2016, 11:19 am
#1872
Join Date: Mar 2013
Location: LBB
Programs: UA 1K 1MM ★G | Marriott LTT | Hilton ♦ | Hertz PC | Global Entry TSA Pre ✓
Posts: 2,820
And what would this "something" be? Just curious for my own benefit as I am not as knowledgeable about Hyatt or IHG.
Feb 14, 2016, 11:35 am
#1873
Join Date: Jul 2001
Programs: Marriott LT Tit; Hyatt Explorist; Hilton CC Gold; IHG CC Plt; Hertz (MR) 5 star
Posts: 5,536
I'd recommend you go to the respective websites and see what each loyalty program offers with each tier.
Feb 15, 2016, 2:46 am
#1874
Join Date: Jun 2008
Location: SFO
Programs: AA LTP 2MM, Marriott/SPG Rabid Plat w/Ambassador, HHonors Gold
Posts: 696
Those same SPG members on FT were complaining when Hyatt was trying to take over Starwood. Those same SPG members on FT would have complained no matter which hotel chain took over Starwood - Accor, Hilton, Hyatt, Wyndham, Mandarin Oriental, Peninsula, etc. So that means very little.
Hyatt and Hilton offered status matches and plenty of SPG FTers have already complained about those two chains since the matches were offered. So a few SPG elites go to different loyalty programs - I don't see it as a big deal and I'm sure that Marriott expects some attrition. You are placing far too great a value on those losses while ignoring the fact that Marriott's increased footprint will make them more attractive to some new customers.
Hyatt and Hilton offered status matches and plenty of SPG FTers have already complained about those two chains since the matches were offered. So a few SPG elites go to different loyalty programs - I don't see it as a big deal and I'm sure that Marriott expects some attrition. You are placing far too great a value on those losses while ignoring the fact that Marriott's increased footprint will make them more attractive to some new customers.
For the record, I'm not just talking about FT'ers, but SPG members in general. A lot of high-spend SPG folks who have never even heard of FT are concerned about the possible erosion of their loyalty program. And while it's true that some people will complain no matter what, the volume of complaints would at least somewhat correlate with how much the new hotel chain planned to actually seriously court the loyalty of SPG members. Hopefully Marriott will pleasantly surprise us all, but I'm not holding my breath.
Feb 16, 2016, 12:58 am
#1875
Join Date: Jan 2008
Location: SF Bay Area
Programs: UA 1K MM, Marriott Life Plat, various others of little note
Posts: 2,763
And the suite upgrades being confirmed in advance means there's no arguing on arrival, no hide the suite shenanigans, no stress. I either have the upgrade or I don't. Also no breakfast nickel and dime routine, I either get breakfast in the lounge or a full breakfast for four guests. And at some places room service breakfast, which is a real treat.
Only problem is footprint, but I'll manage to make 25 stays no problem and then I'm free to stay elsewhere like Hilton Garden Inn or Marriott (thanks UA for the gold status). And for the family vacation stays I can get a suite locked in when I need it (which is what they're really for, I don't care all that much when I'm on the road by myself as long as there's a decent desk and a place to sit, along with power. And breakfast for the whole family instead of a bagel for two of us at SPG.