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. Starwoods Board has not changed its recommendation in support of Starwoods 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 its 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 Marriotts stock-and-cash offer valued at $75.91 a share, or about $12.8 billion, based on March 24ths 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 wont easily back down as it seeks to build its hotel holdings. The Beijing-based company last year purchased Manhattans 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
Chinas Anbang Drops Bid for Starwood Hotels
Operator of Sheraton, other hotels seen returning to Marriotts 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
Were excited to share the news that Starwood Hotels & Resorts will join together with Marriott International to create the worlds 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, well 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, well 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 Worlds Largest Hotel Company, Best Loyalty Program
Today were excited to share the news that Starwood Hotels & Resorts will join together with Marriott International to create the worlds 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, youll 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 uswhether 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 Worlds Largest Hotel Company, Best Loyalty Program
Today were excited to share the news that Starwood Hotels & Resorts will join together with Marriott International to create the worlds 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, youll 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 uswhether 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. Starwoods Board has not changed its recommendation in support of Starwoods 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 its 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 Marriotts stock-and-cash offer valued at $75.91 a share, or about $12.8 billion, based on March 24ths 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 wont easily back down as it seeks to build its hotel holdings. The Beijing-based company last year purchased Manhattans 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
Chinas Anbang Drops Bid for Starwood Hotels
Operator of Sheraton, other hotels seen returning to Marriotts previous takeover offer
http://www.wsj.com/articles/chinas-a...way-1459455942
Starwood: "Marriott and Starwood stockholders approve merger"
Jan 17, 2016, 2:25 pm
#1681
Join Date: Dec 2010
Posts: 1,860
I am sure those hotels may be reasons for HHonors members, and not like it means anything against the Hilton brand, but there are a ton, no, too many redemption options in Asia and SE Asia. I personally don't find many of the properties to be too attractive in Hilton's lineup. I pay more attention to Europe than Asia.
SPG is nice in that regard, we have 8 redemption options between Langkawi and Koh Samui.
SPG is nice in that regard, we have 8 redemption options between Langkawi and Koh Samui.
Jan 17, 2016, 2:58 pm
#1682
Suspended
Join Date: Dec 2014
Posts: 8,460
I am sure those hotels may be reasons for HHonors members, and not like it means anything against the Hilton brand, but there are a ton, no, too many redemption options in Asia and SE Asia. I personally don't find many of the properties to be too attractive in Hilton's lineup. I pay more attention to Europe than Asia.
SPG is nice in that regard, we have 8 redemption options between Langkawi and Koh Samui.
SPG is nice in that regard, we have 8 redemption options between Langkawi and Koh Samui.
Jan 17, 2016, 3:25 pm
#1683
Join Date: Jun 2002
Location: BCT. Formerly known as attorney28
Programs: LH HON,BA GGL GfL,Hyatt LT Glob,Mrtt LT P,Hilt LT D,IC Amb,Acc P,GHA Tit,LHW Strlg,Sixt/Av/Hz D/Pres
Posts: 6,839
Jan 18, 2016, 7:58 pm
#1684
Join Date: Dec 2001
Location: Coconut Creek, FL
Programs: AA Lifetime Platinum-3 MM Marriott Lifetime Plat Hyatt Globalist
Posts: 980
As somebody who has redeemed hundreds of free nights with SPG across all levels I can only scratch my head and wonder. I can probably give 100 examples why your statement is way off. The availability of SPG free nights + overall redemption rates, there is nothing that compares. They have had raises over the years, especially the last few. However I scored hundreds of night since 2005 many at very low rates. Real easy for me to get 300.00+ rooms at 10K level.
Jan 19, 2016, 5:47 am
#1685
Suspended
Join Date: Dec 2014
Posts: 8,460
As somebody who has redeemed hundreds of free nights with SPG across all levels I can only scratch my head and wonder. I can probably give 100 examples why your statement is way off. The availability of SPG free nights + overall redemption rates, there is nothing that compares. They have had raises over the years, especially the last few. However I scored hundreds of night since 2005 many at very low rates. Real easy for me to get 300.00+ rooms at 10K level.
Then let's compare that to IHG Thalasso and the Hyatt Maldives. Both IHG and Hyatt points are easier to earn and those 2 properties also require far fewer points for redemptions.
Jan 21, 2016, 12:15 am
#1686
Join Date: Jul 2010
Posts: 2,108
Has anyone weighed in on whether the merger might eventually allow Chase card holders to transfer UR points directly to SPG or through Marriott 1:1 via SPG? If so, this could potentially be a huge benefit (speaking as a CSP card holder and unable to get approved for the SPG AmEx) so long as the points aren't devalued.
Last edited by OliverB; Jan 21, 2016 at 12:27 am
Jan 21, 2016, 7:25 am
#1687
Join Date: Jan 2015
Programs: Marriott Titanium and LTP, Hilton Gold, United Silver
Posts: 786
Has anyone weighed in on whether the merger might eventually allow Chase card holders to transfer UR points directly to SPG or through Marriott 1:1 via SPG? If so, this could potentially be a huge benefit (speaking as a CSP card holder and unable to get approved for the SPG AmEx) so long as the points aren't devalued.
Jan 21, 2016, 7:48 am
#1688
Moderator, Marriott Bonvoy & FlyerTalk Evangelist
Join Date: Oct 2002
Location: McKinney, TX, USA
Programs: United Silver; AA Plat/2MM; Marriott LT Titanium; Hilton Gold
Posts: 11,729
I agree. While I can see a period of time where you might convert your points from SPG to Marriott (as part of the merging of the two programs), I just don't see why Marriott would put resources into providing a mechanism to migrate Marriott points to SPG points.
Jan 21, 2016, 10:58 am
#1689
Join Date: Feb 2010
Programs: MR-Amb, Hyatt-Globalist, AA-EXP
Posts: 1,744
You and I have a different definition of top tier properties. When I say top tier, I'm taking St. Regis Bora Bora, St. Regis Maldives. Tell me how many SPG points/night those properties require?
Then let's compare that to IHG Thalasso and the Hyatt Maldives. Both IHG and Hyatt points are easier to earn and those 2 properties also require far fewer points for redemptions.
Then let's compare that to IHG Thalasso and the Hyatt Maldives. Both IHG and Hyatt points are easier to earn and those 2 properties also require far fewer points for redemptions.
I would also say that the St. Regis properties in New York, Deer Valley, Aspen, Bal Harbour, Florence, Mallorca and Punta Mita are also top-tier properties with great redemption values. If you throw in the Luxury Collection properties you'd have a ton more top tier properties with reasonable redemption rates.
I think you're missing a big part of the program if you focus on Bora Bora and the Maldives for redemptions.
Jan 21, 2016, 11:53 am
#1690
Join Date: Jul 2010
Posts: 2,108
So you're suggesting that the entire SPG program would be wiped out and rebranded under Marriott? If so, that doesn't sound good... I wonder what kind of impact that will have on the service and loyalty recognition at top tier cat. 7 properties?
Jan 21, 2016, 12:07 pm
#1691
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 49,009
Of course. Northwest Airlines, Continental Airlines and US Airways frequent flyer programs no longer exist, why might this be different? Much of the anticipated savings generated by mergers comes from eliminating duplicate operations.
Jan 21, 2016, 12:18 pm
#1692
Join Date: Jul 2010
Posts: 2,108
How do you suppose they would handle status in that context; wipe that slate clean?
Jan 21, 2016, 12:24 pm
#1693
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 49,009
Supposition is the topic of this thread. If you read from the beginning you will find conjecture on every aspect of the program. If you don't have the desire to read 1600 posts, use the Search this Thread function to look for keywords such as: elite platinum gold lifetime .
Jan 21, 2016, 1:21 pm
#1694
Suspended
Join Date: Dec 2014
Posts: 8,460
As a matter of fact, I was able to book 7 consecutive nights at the Thalasso for April (booked a year ago). I'm not sure about Nui (never even looked into it) but how exactly does one get a "crappy room" at Thalasso? Everyone gets an overwater bungalow which go for $800 a night min during the peak season. Unless the staff plans to stuff cockroaches in my pillow before I check-in, I'm not sure how the OWB could be considered "crappy."
Jan 21, 2016, 8:42 pm
#1695
Join Date: Feb 2010
Programs: MR-Amb, Hyatt-Globalist, AA-EXP
Posts: 1,744
As a matter of fact, I was able to book 7 consecutive nights at the Thalasso for April (booked a year ago). I'm not sure about Nui (never even looked into it) but how exactly does one get a "crappy room" at Thalasso? Everyone gets an overwater bungalow which go for $800 a night min during the peak season. Unless the staff plans to stuff cockroaches in my pillow before I check-in, I'm not sure how the OWB could be considered "crappy."
Either way, the main point was that you were comparing the worst SPG redemptions to some of the best IHG and Hyatt redemptions to make a point, which is pretty misleading.
Last edited by spgplat21; Jan 21, 2016 at 9:24 pm