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 25, 2016, 7:32 am
#2911
Join Date: Aug 2012
Programs: AA PLT, SPG Gold
Posts: 2,405
Which is great and I do agree. Asian or East European Cat2-Cat5 hotels are pretty amazing compared to what they cost. But I was talking about the truly aspirational properties that charge an outrageous amount of points, 3-4x multiples of designated category. W Maldives charges 90K, not 30K. This is a fact and does not change even if most of the SPG properties require reasonable points (unless SPG realizes nobody is going to spend this much and conducts 35% redemption sales, which makes 59K for W Maldives and is still twice as expensive as typical Cat7 properties.)
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.
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.
Small price to pay for otherwise being able to book $300 rooms for 7-10K points on a regular basis IMO. Try doing that with Marriott.
Mar 25, 2016, 7:34 am
#2912
Join Date: Apr 2004
Programs: AA Plat/2MM, DL Silver, UA Silver (via Marr), Marr LTT, HH Gold (via cc), Hyatt Disc
Posts: 1,039
[QUOTE=BonnieO;26383807]Hilton's program is awful. Is MR is it really that much better? QUOTE]
IMHO, the answer is yes for two reasons:
- HH award nights cost approx 30% more points than an equivalent Mar property (though you could argue that with HH's "Points + Points" you are getting 15 pts/$ vs MR's 10 pts/$ excluding elite bonus, cc, etc.)
- More importantly, I have seen many many more exceptions to the standard award rates with HH and, in my experience, have not seen that with Marriott
So, to me, HH is a very risky proposition; you acquire points assuming a certain value, but when you go to redeem, often find out you get only 1/3rd the number of nights you thought you would. That is not the case with MR.
YMMV
IMHO, the answer is yes for two reasons:
- HH award nights cost approx 30% more points than an equivalent Mar property (though you could argue that with HH's "Points + Points" you are getting 15 pts/$ vs MR's 10 pts/$ excluding elite bonus, cc, etc.)
- More importantly, I have seen many many more exceptions to the standard award rates with HH and, in my experience, have not seen that with Marriott
So, to me, HH is a very risky proposition; you acquire points assuming a certain value, but when you go to redeem, often find out you get only 1/3rd the number of nights you thought you would. That is not the case with MR.
YMMV
Mar 25, 2016, 8:01 am
#2913
Join Date: Jun 2015
Location: District of Columbia
Programs: SPG Plat, Hyatt Diamond, Hilton Diamond (SM), Asiana Diamond.
Posts: 45
Really boggles my mind that you keep harping on the supposed negative that really only applies to VERY FEW properties. I mean like a very small number compared to SPG's footprint. Plus if you book in advance or grab a promo rate, you can get rooms at all of the above for reasonable cash rates - often during a "take two" or similar promo.
Small price to pay for otherwise being able to book $300 rooms for 7-10K points on a regular basis IMO. Try doing that with Marriott.
Small price to pay for otherwise being able to book $300 rooms for 7-10K points on a regular basis IMO. Try doing that with Marriott.
Yes I do love SPG and this is my favorite program, and I don't think there is any alternative. I do think Marriott program is inferior in general, both in terms of benefits and award bookings. That being said this limited participation is my biggest complaint for this program. Then why do you keep insisting that SPG is generally a good program? I sincerely think so as well. I kept harping because another person was doing the same thing to me: telling me that SPG is generally a good program. Which I really agree with. But since you said that, I'm not going to argue this anymore in this thread.
Last edited by dewdreamdawn; Mar 25, 2016 at 8:10 am
Mar 25, 2016, 8:02 am
#2914
A FlyerTalk Posting Legend
Join Date: Jul 2002
Location: MCI
Programs: AA Gold 1MM, AS MVP, UA Silver, WN A-List, Marriott LT Titanium, HH Diamond
Posts: 52,575
I'm often earning around 40 pts/$ because the 2x points promos are semi-common, plus sometimes there's a bonus on the CC side as well. You earn a ton, it costs a lot to redeem, and then they realize point inflation has gotten out of hand so they devalue the entire thing.
MR and SPG are more stable programs, better for those who want to save for a huge award without undue worry that the whole structure of the program will change. But HH can be still be played well, especially with the easy path to Diamond.
Mar 25, 2016, 8:10 am
#2915
A FlyerTalk Posting Legend
Join Date: Jul 2002
Location: MCI
Programs: AA Gold 1MM, AS MVP, UA Silver, WN A-List, Marriott LT Titanium, HH Diamond
Posts: 52,575
A very small number compared to all SPG footprint: Yes. But what about compared to aspirational properties? Aren't those we really want to burn the points, hence "aspirational"? Like we do see a lot of people burning points at Park Hyatt Maldives, but do we see people burning points at W Maldives? It is my biggest concern because I really want to stay there (it's not I don't like them), but I can't do so with the points.
The exclusions/"limited participation" is an interesting topic. Starwood lets some properties wiggle out of the regular redemption rules or categories. It also lets a *lot* of properties wiggle out of basic quarterly earning promotions. Marriott has much less of this kind of opting-out.
On the flip side, Marriott lets almost all properties game the system when it comes to (not so) "special event" overrides. Starwood generally holds to the any-room-available rule at its regular hotels until you get to the events that are immediately recognizable worldwide as truly special events.
Both kinds of opt-outs are annoying...I just hope when the programs merge, we don't get the worst of all forms.
Mar 25, 2016, 8:19 am
#2916
Join Date: Feb 2011
Posts: 19
How soon do you think we will see a devaluation? I have a bunch of points but no plans to use them this year.
Mar 25, 2016, 8:21 am
#2917
Join Date: Jun 2015
Location: District of Columbia
Programs: SPG Plat, Hyatt Diamond, Hilton Diamond (SM), Asiana Diamond.
Posts: 45
Well I also agree with this at the same time. Those "Limited Participation" thing mostly applies to tropical resorts. Suiran at Kyoto is one of the aspirational properties that doesn't do this. (Sadly it went up from Cat6 to Cat7 recently.)
Mar 25, 2016, 8:30 am
#2918
Join Date: Apr 2008
Location: Germany, Austria
Programs: IHG Diamond Ambassador, ALL Silver,, Miles&More
Posts: 1,122
[QUOTE=bosman;26384793]
My HH points earning calculation bases on around 50 points/1US$ spent excl. CC:
http://www.flyertalk.com/forum/26184433-post63.html
Points redemption might be or is more expensive with Hilton and it is sometimes more difficult to get standard room rewards but I am still satisfied. Marriott gives less but charges less in my experience and gave me during high season in Paris as ordinary member last year a deluxe double double room (3 persons) for points and cash 45.000 points+100 Euros at Champs Elysees per night plus a breakfast voucher for full buffett breakfast for 3, which impressed me as well as the service (guided personally to the room).
Considering my favorite business and leisure stay destination region Continental Europe, Starwood owns/runs more luxury and upscale properties than Hilton. Marriott owns/runs more upscale/upper midscale properties. That is the reason why I always observed both programs and/or used and use from time to time their hotels, but did not decide for or against one of them, stayed with Hilton and IHG. Marriott+Starwood is really an alternative for me and could make them be my favorite chain and cost IHG, LHW and slh many of my stays. To Hilton I will stick always as Diamond (my first chain and nothing to complain about their generous loyality program).
I am registered to SPG Platinum Challenge now after the merger announcement, and I hope I goes through, and speculate that SPG Platinums will be matched to Marriott Platinums when the programs have been merged. If not Platin - Marriott Gold is also worth to have.
Hilton's program is awful. Is MR is it really that much better? QUOTE]
IMHO, the answer is yes for two reasons:
- HH award nights cost approx 30% more points than an equivalent Mar property (though you could argue that with HH's "Points + Points" you are getting 15 pts/$ vs MR's 10 pts/$ excluding elite bonus, cc, etc.)
- More importantly, I have seen many many more exceptions to the standard award rates with HH and, in my experience, have not seen that with Marriott
So, to me, HH is a very risky proposition; you acquire points assuming a certain value, but when you go to redeem, often find out you get only 1/3rd the number of nights you thought you would. That is not the case with MR.
YMMV
IMHO, the answer is yes for two reasons:
- HH award nights cost approx 30% more points than an equivalent Mar property (though you could argue that with HH's "Points + Points" you are getting 15 pts/$ vs MR's 10 pts/$ excluding elite bonus, cc, etc.)
- More importantly, I have seen many many more exceptions to the standard award rates with HH and, in my experience, have not seen that with Marriott
So, to me, HH is a very risky proposition; you acquire points assuming a certain value, but when you go to redeem, often find out you get only 1/3rd the number of nights you thought you would. That is not the case with MR.
YMMV
http://www.flyertalk.com/forum/26184433-post63.html
Points redemption might be or is more expensive with Hilton and it is sometimes more difficult to get standard room rewards but I am still satisfied. Marriott gives less but charges less in my experience and gave me during high season in Paris as ordinary member last year a deluxe double double room (3 persons) for points and cash 45.000 points+100 Euros at Champs Elysees per night plus a breakfast voucher for full buffett breakfast for 3, which impressed me as well as the service (guided personally to the room).
Considering my favorite business and leisure stay destination region Continental Europe, Starwood owns/runs more luxury and upscale properties than Hilton. Marriott owns/runs more upscale/upper midscale properties. That is the reason why I always observed both programs and/or used and use from time to time their hotels, but did not decide for or against one of them, stayed with Hilton and IHG. Marriott+Starwood is really an alternative for me and could make them be my favorite chain and cost IHG, LHW and slh many of my stays. To Hilton I will stick always as Diamond (my first chain and nothing to complain about their generous loyality program).
I am registered to SPG Platinum Challenge now after the merger announcement, and I hope I goes through, and speculate that SPG Platinums will be matched to Marriott Platinums when the programs have been merged. If not Platin - Marriott Gold is also worth to have.
Last edited by submonte; Mar 25, 2016 at 9:46 am Reason: from time to time
Mar 25, 2016, 9:07 am
#2919
Join Date: Feb 2010
Programs: MR-Amb, Hyatt-Globalist, AA-EXP
Posts: 1,744
A very small number compared to all SPG footprint: Yes. But what about compared to aspirational properties? Aren't those we really want to burn the points, hence "aspirational"? Like we do see a lot of people burning points at Park Hyatt Maldives, but do we see people burning points at W Maldives? It is my biggest concern because I really want to stay there (it's not I don't like them), but I can't do so with the points.
Back to topic though: MAR is down another 1.5% this morning. Things should get very interesting before the SH vote.
Last edited by spgplat21; Mar 25, 2016 at 9:14 am
Mar 25, 2016, 9:37 am
#2920
Join Date: Jan 2012
Location: HEL
Programs: SPG LTP, hotels, OWE, STE+, *G, Octopus
Posts: 5,788
I've had the same chats pre-Anbang. No one was happy about Marriott
Mar 25, 2016, 9:43 am
#2921
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
How about improving the experience, increasing revenue a lot and increasing expenses only a little?
Mar 25, 2016, 9:48 am
#2922
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
That's what I suggested a while ago in this thread and someone, IIRC Troopers insisted that HOT absolutely needed to cut the costs of their loyalty program. However, a lot of those costs are paid by the hotels anyway, not corporate. SPG redistributes the costs around properties to be more fair, so that the aspirational hotels don't get stuck paying for free nights for people who have earned their points at much less expensive properties for example.
Mar 25, 2016, 9:54 am
#2923
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
My HH points earning calculation bases on around 50 points/1US$ spent excl. CC:
http://www.flyertalk.com/forum/26184433-post63.html
http://www.flyertalk.com/forum/26184433-post63.html
Mar 25, 2016, 9:58 am
#2924
Join Date: Sep 2010
Location: Chicago
Programs: Hyatt Glob; UA 1K; BonVoyage LTT (RIP SPG); HH Dia; JX Insighter
Posts: 1,643
Didn't see anyone post this yet, but the HOT Board has issued its proxy recommendation yesterday. In its filing it says:
And also notes:
The MAR bid is worth, at the time of this posting, $75.91.
The Starwood Board of Directors unanimously recommends that Starwood stockholders vote “FOR” the Starwood combination transactions proposal.
Failures to vote will have the same effect as votes against the Starwood combination transactions proposal.
Mar 25, 2016, 10:08 am
#2925
A FlyerTalk Posting Legend
Join Date: Aug 2002
Programs: UALifetimePremierGold, Marriott LifetimeTitanium
Posts: 71,114
That's what I suggested a while ago in this thread and someone, IIRC Troopers insisted that HOT absolutely needed to cut the costs of their loyalty program. However, a lot of those costs are paid by the hotels anyway, not corporate. SPG redistributes the costs around properties to be more fair, so that the aspirational hotels don't get stuck paying for free nights for people who have earned their points at much less expensive properties for example.
http://www.flyertalk.com/forum/26381497-post2869.html
Didn't see anyone post this yet, but the HOT Board has issued its proxy recommendation yesterday. In its filing it says:
And also notes:
The MAR bid is worth, at the time of this posting, $75.91.
And also notes:
The MAR bid is worth, at the time of this posting, $75.91.
And what happens in a proxy situation if everyone is voting now, but AnBang comes back w/ a larger offer & gets the regulator to ok it?
Cheers.