Originally Posted by nroscoe

Citi:

I too am scratching my head wondering why SPG handled all this so poorly.

I agree with your math, however, you didn't mention 2 other things that are harder to calculate:

- the timing of all this: especially during the Freddies voting
- the increased restrictions on William by his bosses. Example: it's the day after the increase but they still have not given him permission to give us the list as he has done in past years.

I have not looked, but have there been executive changes in Starwood's Marketing division, or as BigBopper alludes, times are good for revenue so who cares about the loyalty program?