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"
Mar 24, 2016, 5:03 pm
#2896
Join Date: Jan 2008
Location: JFK, DCA, BUR, YVR
Programs: AC, AS, BA, DL, HH (D), MR (T/LTP), UA (*S), UScAAre (PLT/1,87MM), WN
Posts: 5,207
Couple more headlines from the call:
*MARRIOTT CFO SAYS CONFIDENT CAN POSITION 30 BRANDS SUCCESSFULLY
*MARRIOTT CEO SAYS LOYALTY PROGRAMS TO RUN IN PARALLEL WAY
*MARRIOTT CEO SAYS WILL COMBINE GUEST PROGRAMS LONGER TERM
*MARRIOTT CEO: LUXURY, LIFESTYLE HOTELS TO BE ESPECIALLY STRONG
*MARRIOTT CEO SAYS ST. REGIS WILL CONTINUE TO EXPAND, ACCELERATE
*MARRIOTT CEO SAYS W POSITIONED 'JUST BELOW' ITS EDITION BRAND
*MARRIOTT CEO: 'BEEN WORKING INTENSELY' TO MERGE SINCE NOVEMBER
*MARRIOTT CEO SAYS CONFIDENT CAN ACHIEVE $250 MLN COST SAVINGS (BY 2018, IF NOT BEFORE)
*MARRIOTT CEO SAYS 'REGRETTED' HIGH USE OF EQUITY IN NOV. OFFER
*MARRIOTT CEO SAYS CASH IS CHEAPER CURRENCY FOR COMPANY TO USE
*MARRIOTT SAYS SOME OF HOTELS WILL BE REFLAGGED AS SHERATONS
*MARRIOTT CFO SAYS CONFIDENT CAN POSITION 30 BRANDS SUCCESSFULLY
*MARRIOTT CEO SAYS LOYALTY PROGRAMS TO RUN IN PARALLEL WAY
*MARRIOTT CEO SAYS WILL COMBINE GUEST PROGRAMS LONGER TERM
*MARRIOTT CEO: LUXURY, LIFESTYLE HOTELS TO BE ESPECIALLY STRONG
*MARRIOTT CEO SAYS ST. REGIS WILL CONTINUE TO EXPAND, ACCELERATE
*MARRIOTT CEO SAYS W POSITIONED 'JUST BELOW' ITS EDITION BRAND
*MARRIOTT CEO: 'BEEN WORKING INTENSELY' TO MERGE SINCE NOVEMBER
*MARRIOTT CEO SAYS CONFIDENT CAN ACHIEVE $250 MLN COST SAVINGS (BY 2018, IF NOT BEFORE)
*MARRIOTT CEO SAYS 'REGRETTED' HIGH USE OF EQUITY IN NOV. OFFER
*MARRIOTT CEO SAYS CASH IS CHEAPER CURRENCY FOR COMPANY TO USE
*MARRIOTT SAYS SOME OF HOTELS WILL BE REFLAGGED AS SHERATONS
It is an exceptionally poor article in the NY Times - you can tell that it's written by a law academic rather than a person who understands anything about these issues whatsoever.
Just off the top of my head:
1. He thinks that the Starwood deal is for property rather than management franchises.
Just off the top of my head:
1. He thinks that the Starwood deal is for property rather than management franchises.
If the price continues to tank, then they will have no choice. However, I am curious to the wording of the agreement. Did they consent to receiving .8 sh or the price on the date of the revised announcement. If the latter, then HOT shareholders could end up with more shares of MAR than they would ever care to have. I am hoping that my fellow HOT shareholders are like-minded, and vote no to the agreement. Unfortunately, at the end of the day, it is entirely a business decision. We'll just have to wait and see where the cards fall.
Mar 24, 2016, 5:13 pm
#2897
A FlyerTalk Posting Legend
Join Date: Sep 2009
Location: Minneapolis: DL DM charter 2.3MM
Programs: A3*Gold, SPG Plat, HyattDiamond, MarriottPP, LHW exAccess, ICI, Raffles Amb, NW PE MM, TWA Gold MM
Posts: 100,417
All lies! Lies I tell you! Blatant, boldfaced lies.
I don't believe that they are out to alienate customers; however, if they don't take any cues from what made SPG so great, then they do stand to lose business. As it is, hotels are losing business to upstarts like AirBNB. IMHO, adapt or die.
I don't think those properties will stay around for long. I find it hard to believe that all 30 brands are going to be managed under the Marriott umbrella. At best, they are going to combine the losers from both sides, package them, and sell them to the highest bidder. That's how you achieve "synergies" in this deal.
That's exactly what this is. Starwood has many desirable properties including the St. Regis in New York and 100+ Alofts (almost all new builds). Marriott's Essex House doesn't hold a candle, and don't get me started on Marriott's low-end.
If the price continues to tank, then they will have no choice. However, I am curious to the wording of the agreement. Did they consent to receiving .8 sh or the price on the date of the revised announcement. If the latter, then HOT shareholders could end up with more shares of MAR than they would ever care to have. I am hoping that my fellow HOT shareholders are like-minded, and vote no to the agreement. Unfortunately, at the end of the day, it is entirely a business decision. We'll just have to wait and see where the cards fall.
I don't believe that they are out to alienate customers; however, if they don't take any cues from what made SPG so great, then they do stand to lose business. As it is, hotels are losing business to upstarts like AirBNB. IMHO, adapt or die.
I don't think those properties will stay around for long. I find it hard to believe that all 30 brands are going to be managed under the Marriott umbrella. At best, they are going to combine the losers from both sides, package them, and sell them to the highest bidder. That's how you achieve "synergies" in this deal.
That's exactly what this is. Starwood has many desirable properties including the St. Regis in New York and 100+ Alofts (almost all new builds). Marriott's Essex House doesn't hold a candle, and don't get me started on Marriott's low-end.
If the price continues to tank, then they will have no choice. However, I am curious to the wording of the agreement. Did they consent to receiving .8 sh or the price on the date of the revised announcement. If the latter, then HOT shareholders could end up with more shares of MAR than they would ever care to have. I am hoping that my fellow HOT shareholders are like-minded, and vote no to the agreement. Unfortunately, at the end of the day, it is entirely a business decision. We'll just have to wait and see where the cards fall.
Mar 24, 2016, 5:25 pm
#2898
Join Date: Sep 2015
Location: SFO
Posts: 3,881
Let me rephrase: How can HOT increase revenues and decrease expenses with its customers (hotel operators) without negatively impacting the consumer?
Mar 24, 2016, 6:06 pm
#2899
Join Date: Mar 2009
Location: Bangkok
Programs: SQ TPP
Posts: 127
Just for curiosity ... Has anyone spoken to staff at Starwood hotels about the deal?
I've spoken to a few (only at hotels in Asia and one in Europe), and the responses have been unanimously and overwhelmingly anti-Marriott. Thought it was interesting that everyone I spoke to want Anbang to succeed. I spoke to a couple of regional people who also were pro-Anbang, but given job security this is very understandable.
I've spoken to a few (only at hotels in Asia and one in Europe), and the responses have been unanimously and overwhelmingly anti-Marriott. Thought it was interesting that everyone I spoke to want Anbang to succeed. I spoke to a couple of regional people who also were pro-Anbang, but given job security this is very understandable.
Mar 24, 2016, 6:50 pm
#2900
Join Date: Oct 2015
Location: PVG, SFO
Posts: 4
Just for curiosity ... Has anyone spoken to staff at Starwood hotels about the deal?
I've spoken to a few (only at hotels in Asia and one in Europe), and the responses have been unanimously and overwhelmingly anti-Marriott. Thought it was interesting that everyone I spoke to want Anbang to succeed. I spoke to a couple of regional people who also were pro-Anbang, but given job security this is very understandable.
I've spoken to a few (only at hotels in Asia and one in Europe), and the responses have been unanimously and overwhelmingly anti-Marriott. Thought it was interesting that everyone I spoke to want Anbang to succeed. I spoke to a couple of regional people who also were pro-Anbang, but given job security this is very understandable.
There are a few ways for that scale to happen though, and maybe acquisition by Anbang won't immediately solve that problem. But it doesn't have to solved through aquisition by Marriott either.
Last edited by lucitina; Mar 24, 2016 at 6:51 pm Reason: typo
Mar 24, 2016, 9:49 pm
#2901
Join Date: Jan 2008
Location: JFK, DCA, BUR, YVR
Programs: AC, AS, BA, DL, HH (D), MR (T/LTP), UA (*S), UScAAre (PLT/1,87MM), WN
Posts: 5,207
I know that, but based on the wording, they may have no choice. Like I've said, I'm curious to see the wording of the agreement (n.b. whether # of stocks issued are based on price from March xx or whether they are fixed at 0,8 sh). It's really the only thing that would determine whether the MAR offer was actually getting weaker over time.
Mar 24, 2016, 10:24 pm
#2902
Join Date: Dec 2015
Location: Dallas & San Diego
Programs: AA Plat, SPG Plat 100, Marriott Gold
Posts: 31
[QUOTE=Horace;26380299]Given such a price difference, I would also normally opt to spend €69 per night instead of more than five times as much -- especially with Marriott elite benefits at the Renaissance.
I understand that saving money is important. However, on vacation it's important to some of us to stay at nice places. I spend 1/3 of my year at hotel. I don't want to spend my time on vacation at a crappy hotel. I like the SPG benefits because. I spend a lot of time at SPG hotels.
If MR takes over and changes the program to match current MR program I will probably move.
I understand that saving money is important. However, on vacation it's important to some of us to stay at nice places. I spend 1/3 of my year at hotel. I don't want to spend my time on vacation at a crappy hotel. I like the SPG benefits because. I spend a lot of time at SPG hotels.
If MR takes over and changes the program to match current MR program I will probably move.
Last edited by BonnieO; Mar 24, 2016 at 11:40 pm
Mar 24, 2016, 10:40 pm
#2903
Join Date: Dec 2015
Location: Dallas & San Diego
Programs: AA Plat, SPG Plat 100, Marriott Gold
Posts: 31
[QUOTE=dewdreamdawn;26380432]The Ritz-Carlton is a decent luxury brand indeed. Is there anyone who said Ritz is not as good as StR or LC, especially in terms of RevPAR/ADR? I haven't seen one. However, it gives hardly any benefit to high-tier members. No breakfast, not even club-level upgrade, etc. So you can't really include them when we are talking about loyalty benefits.
Wow, I guess you never had the breakfast amenity at the St Regis. We spent 7 nights in Rome each day had a fabulous breakfast at NO CHARGE as we picked that as our platinum amenity.
One morning we had an early day trip. They made us breakfast before the buffet even opened. FYU. No charge. They went above and beyond the T & C of what is required. I wonder what Marriott would have done.
FYI 5 of 7 nights were on points we had a suite all 7 nights on SNA.
Bonnie
Wow, I guess you never had the breakfast amenity at the St Regis. We spent 7 nights in Rome each day had a fabulous breakfast at NO CHARGE as we picked that as our platinum amenity.
One morning we had an early day trip. They made us breakfast before the buffet even opened. FYU. No charge. They went above and beyond the T & C of what is required. I wonder what Marriott would have done.
FYI 5 of 7 nights were on points we had a suite all 7 nights on SNA.
Bonnie
Mar 24, 2016, 10:50 pm
#2904
FlyerTalk Evangelist
Join Date: Feb 1999
Location: Seat 1A, Juice pretty much everywhere, Mucci des Coins Exotiques
Posts: 34,339
Yep we recently did 5 award nights (5th night free) at the St. Regis NY and we had a full breakfast each day as the Platinum amenity. Great value.
Mar 24, 2016, 11:00 pm
#2905
Join Date: Jun 2015
Location: District of Columbia
Programs: SPG Plat, Hyatt Diamond, Hilton Diamond (SM), Asiana Diamond.
Posts: 45
I was talking about Ritz not giving free breakfast which is given in StR and LC and tend to be amazing............
Mar 24, 2016, 11:03 pm
#2906
Join Date: Dec 2015
Location: Dallas & San Diego
Programs: AA Plat, SPG Plat 100, Marriott Gold
Posts: 31
Actually, there is one thing I really hate about SPG program called SPG "Limited Participation," where properties charge ridiculous amount of Starpoints above category design. SPG awards do not cap at Category 7, 30-35K; St. Regis Bora Bora charges 120K, W Maldives charges 90K, and so on. These are deemed as "all-suites property" and they are totally allowed to do so. Marriott, Hilton, IHG, or Hyatt, nobody does this. Park Hyatt Maldives charges 25K, Conrad Maldives charges 95K, Intercon Bora Bora Thalasso charges 60K, etc. They're in the same points range with other hotels in the same category, despite being "all-suites" as well. Only SPG has this absurd policy. Although I am not really counting on this, but if Marriott can fix it, I might actually like them.
:rolleyesMy husband is Hilton diamond and he spent 50k points for HGI in Rapid City SD.
Mar 24, 2016, 11:25 pm
#2907
Join Date: Jun 2015
Location: District of Columbia
Programs: SPG Plat, Hyatt Diamond, Hilton Diamond (SM), Asiana Diamond.
Posts: 45
Mar 24, 2016, 11:46 pm
#2908
Join Date: Oct 2002
Location: LAS
Programs: PA FT, TW Gold, NW/CO PE, VK Eagleflyer
Posts: 7,173
An interesting article about how valuable the SPG program is to Marriott:
http://qz.com/645364/your-starwood-p...ey-are-to-you/
Interesting quote from Marriott CEO Sorenson:
"Sorenson has said repeatedly that SPG is a main reason why Marriott is pursuing Starwood. Marriott’s own rewards program is much bigger than Starwood’s, with 55 million members to SPG’s 23 million, and often ranked higher in third-party analyses. But Starwood’s SPG members skew younger and high-end. “SPG is a powerful program, there’s no doubt about it,” Sorenson told investors on Monday. “It’s got a strong group of elite loyalists.”
http://qz.com/645364/your-starwood-p...ey-are-to-you/
Interesting quote from Marriott CEO Sorenson:
"Sorenson has said repeatedly that SPG is a main reason why Marriott is pursuing Starwood. Marriott’s own rewards program is much bigger than Starwood’s, with 55 million members to SPG’s 23 million, and often ranked higher in third-party analyses. But Starwood’s SPG members skew younger and high-end. “SPG is a powerful program, there’s no doubt about it,” Sorenson told investors on Monday. “It’s got a strong group of elite loyalists.”
Marriott has cause to fear online travel agencies; that's where former SPG members are going to be shopping.
Mar 24, 2016, 11:55 pm
#2909
Join Date: Dec 2015
Location: Dallas & San Diego
Programs: AA Plat, SPG Plat 100, Marriott Gold
Posts: 31
Hilton's program is awful. Is MR is it really that much better? With HGI we get made to order breakfast.
I've never stayed at a Fairfield so I don't know what they really give but according to Marriott it is only worth half of regular Marriotts.
I can and do redeem points at SPG full service hotels for 7k per night.
Mar 25, 2016, 4:58 am
#2910
Join Date: Jun 2015
Location: District of Columbia
Programs: SPG Plat, Hyatt Diamond, Hilton Diamond (SM), Asiana Diamond.
Posts: 45
So this is what I want to say: Hilton/Marriott redemption rates are equally bad from midrange to luxury-aspirational. SPG redemption rates are very reasonable up to Cat6, but become even worse than that of Hilton or Marriott at the aspirational properties. SPG having so many great lower category properties does not change the ridiculousness of the "limited participation" policy.
So what if Sorenson realizes this is stupid and fixes it? I would love him, even with the expected decline of SPG program. But I doubt it. Maybe Ritz resorts are going to adopt the same thing and require 140k. So I am not counting so much on it.