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"
Apr 2, 2016, 11:44 pm
#3376
Join Date: Oct 2002
Location: Here there everywhere
Programs: Bonvoy Lifetime Titanium, Hilton Diamond, IHG Plat, BA Silver, Aegean Gold, Aeroplan 25k, AA EXP
Posts: 2,833
I haven't done Airbnb, but my daughter has a few times with friends. Based on her reports, Airbnb is not anything for hotels to be concerned about.
Airbnb isn't a solution that companies can use for their business travelers and the business traveler is the bulk of hotel revenues. Airbnb is a leisure traveler solution so I see it as a limited 'threat', much like independent hotels.
The large chains want the briefcase with an expense account crowd, not the backpack and flipflop crowd.
Airbnb isn't a solution that companies can use for their business travelers and the business traveler is the bulk of hotel revenues. Airbnb is a leisure traveler solution so I see it as a limited 'threat', much like independent hotels.
The large chains want the briefcase with an expense account crowd, not the backpack and flipflop crowd.
What keeps me from going to Airbnb ? Starwood's loyalty program and how I'm treated as an SPG Plat member.
Take away the program and treatment and I'll start going to Airbnb or staying independent.
I'm Europe based so can afford to hop around. Marriott will undoubtedly have a good grip in the US, but outside of the US they have a lot to lose.
Apr 3, 2016, 12:49 am
#3377
Join Date: Aug 2001
Location: Toronto, Canada
Programs: Liftime Titanium Elite Marriott
Posts: 1,752
In some places even with SPG I am starting to look at Airbnb. Take Tokyo for example. The Westin is over 300USD a night. For 100 USD on air bnb you can get a bachelor pad in the center of Shinjuku. This is very real option if you are travelling on your own dime.
Apr 3, 2016, 3:58 am
#3378
Join Date: Sep 2012
Posts: 1,748
Yes, the only thing holding me back from going to alternative accomodations is the benefits I receive as an elite SPG member.
If after the merger I lose the benefits which I most desire (suite upgrades and breakfast), and if no other hotel programme appeals, then I will simply revert to the way I used to travel - going to reasonably priced boutique hotels. Back then AirBnB didn't exist but now it's a very viable option. And as I mentioned before, OTAs like Expedia and Hotels.com have their own rewards programme which I might consider too.
I've actually gone out of my way to stay and even travel to locations with an SPG hotel... the benefits provided engender that sort of loyalty (stupid as it may sound to some). Take it away or reduce it to an undesirable level, and why should I bother remaining?
Apr 3, 2016, 4:54 am
#3379
Join Date: Apr 2004
Location: Belgrade, Serbia
Programs: Etihad Guest
Posts: 1,549
I don't find AirBnB to be an alternative at all.
It's a low-level leisure option. It's too unreliable for my travel habits.
It's a low-level leisure option. It's too unreliable for my travel habits.
Apr 3, 2016, 5:07 am
#3380
Join Date: Dec 2014
Location: Bangkok
Programs: Marriott Bonvoy Titanium, BAEC Silver, TK Miles & Smiles Elite
Posts: 2,246
I'm with you. And I did use Airbnb in Tokyo last year because I couldn't justify paying hotel prices when there was such a viable alternative at one third the price.
I've also gone to places just because there's a Starwood hotel: Lombok, Saigon (the new Le Meridien), Hua Hin, Chiang Rai to mention just a few in SE Asia.
That's why I do judge them when they don't treat Platinums well (I'm looking at you Sheraton Samui). I don't feel entitled. I feel that there's an understanding between Starwood and myself. I book direct and stay >50 nights a year and in return they give me breakfast, suites when available, 4pm check out and some booze in the evening (depending on the hotel brand). If these benefits are diluted then I'll start looking at hotels I may actually want to stay in rather than targeting the branded hotel. Starwood has some stinkers (Sheraton Samui, Four Points Kuching that's now been booted out) that I'd never stay at again anyway whether I need the room nights or not. But if my favourite hotels stopped doing what I love them for (Le Meridien Bangkok, Sheraton Hua Hin, Le Meridien KL etc.) then I'd gladly forsake my Platinum status and stay at a cheaper hotel and buy my own booze. Puff. 50 nights gone.
I've also gone to places just because there's a Starwood hotel: Lombok, Saigon (the new Le Meridien), Hua Hin, Chiang Rai to mention just a few in SE Asia.
That's why I do judge them when they don't treat Platinums well (I'm looking at you Sheraton Samui). I don't feel entitled. I feel that there's an understanding between Starwood and myself. I book direct and stay >50 nights a year and in return they give me breakfast, suites when available, 4pm check out and some booze in the evening (depending on the hotel brand). If these benefits are diluted then I'll start looking at hotels I may actually want to stay in rather than targeting the branded hotel. Starwood has some stinkers (Sheraton Samui, Four Points Kuching that's now been booted out) that I'd never stay at again anyway whether I need the room nights or not. But if my favourite hotels stopped doing what I love them for (Le Meridien Bangkok, Sheraton Hua Hin, Le Meridien KL etc.) then I'd gladly forsake my Platinum status and stay at a cheaper hotel and buy my own booze. Puff. 50 nights gone.
Yes, the only thing holding me back from going to alternative accomodations is the benefits I receive as an elite SPG member.
If after the merger I lose the benefits which I most desire (suite upgrades and breakfast), and if no other hotel programme appeals, then I will simply revert to the way I used to travel - going to reasonably priced boutique hotels. Back then AirBnB didn't exist but now it's a very viable option. And as I mentioned before, OTAs like Expedia and Hotels.com have their own rewards programme which I might consider too.
I've actually gone out of my way to stay and even travel to locations with an SPG hotel... the benefits provided engender that sort of loyalty (stupid as it may sound to some). Take it away or reduce it to an undesirable level, and why should I bother remaining?
If after the merger I lose the benefits which I most desire (suite upgrades and breakfast), and if no other hotel programme appeals, then I will simply revert to the way I used to travel - going to reasonably priced boutique hotels. Back then AirBnB didn't exist but now it's a very viable option. And as I mentioned before, OTAs like Expedia and Hotels.com have their own rewards programme which I might consider too.
I've actually gone out of my way to stay and even travel to locations with an SPG hotel... the benefits provided engender that sort of loyalty (stupid as it may sound to some). Take it away or reduce it to an undesirable level, and why should I bother remaining?
Apr 3, 2016, 6:44 am
#3381
Join Date: Sep 2008
Location: AUS
Programs: BAEC Gold, AA PPro, Hyatt Globalist, Amex Plat
Posts: 7,103
I'd like to believe you are correct, but count me as suspect. This thread has truly stunned me in it's ability to generate quite literally thousands of posts, from mostly the same people, saying the same things, over and over and over and over and over and over and over and over and over...
Regards
Apr 3, 2016, 8:14 am
#3382
Join Date: Dec 2004
Location: UK
Programs: Bonvoy Gold, AA Plat, Volare Premier, VS Silver, National Emerald Elite, Hertz President Circle
Posts: 2,526
Apr 3, 2016, 8:22 am
#3383
Join Date: Mar 2010
Programs: DL PM, Bonvoy Gold
Posts: 8,414
I haven't done Airbnb, but my daughter has a few times with friends. Based on her reports, Airbnb is not anything for hotels to be concerned about.
Airbnb isn't a solution that companies can use for their business travelers and the business traveler is the bulk of hotel revenues. Airbnb is a leisure traveler solution so I see it as a limited 'threat', much like independent hotels.
The large chains want the briefcase with an expense account crowd, not the backpack and flipflop crowd.
Airbnb isn't a solution that companies can use for their business travelers and the business traveler is the bulk of hotel revenues. Airbnb is a leisure traveler solution so I see it as a limited 'threat', much like independent hotels.
The large chains want the briefcase with an expense account crowd, not the backpack and flipflop crowd.
Apr 3, 2016, 9:19 am
#3384
FlyerTalk Evangelist
Join Date: Feb 1999
Location: Seat 1A, Juice pretty much everywhere, Mucci des Coins Exotiques
Posts: 34,339
Things that appear to be logical to perfectly normal intelligent people are often wrong due to not having all the facts. Even highly educated doctors and research scientists have their theories proven wrong year after year once facts come to light.
Apr 3, 2016, 9:23 am
#3385
FlyerTalk Evangelist
Join Date: Feb 1999
Location: Seat 1A, Juice pretty much everywhere, Mucci des Coins Exotiques
Posts: 34,339
I've done a fair number of Airbnb's and the treatment received there has normally been very warm and welcoming and going beyond what I get at a hotel.
What keeps me from going to Airbnb ? Starwood's loyalty program and how I'm treated as an SPG Plat member.
Take away the program and treatment and I'll start going to Airbnb or staying independent.
I'm Europe based so can afford to hop around. Marriott will undoubtedly have a good grip in the US, but outside of the US they have a lot to lose.
What keeps me from going to Airbnb ? Starwood's loyalty program and how I'm treated as an SPG Plat member.
Take away the program and treatment and I'll start going to Airbnb or staying independent.
I'm Europe based so can afford to hop around. Marriott will undoubtedly have a good grip in the US, but outside of the US they have a lot to lose.
Apr 3, 2016, 10:52 am
#3386
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,942
It'll convert how it'll convert, if the merger happens (we still to get through a shareholder meeting).
I've offered in a Marriott thread that why couldn't it be 10:22 ie, 1:2.2 or something like that, and someone else replied that they thought it would only whole numbers. But again, that's one speculation answered with nothing but another speculation!
I'll propose yet a weirder speculation: What if they give you a different ratio on your first NNNN points than on the remainder of your points? What it they give a different conversion ratio depending on your status (at SPG, or at Marriott, or at both)? There are so many possibilities, it's not practical to list all of them, but what's the point? It will be what it will be, and will not be influenced by speculations in this thread or any other thread.
The good news: SPG points a more transferable (at good ratios) than any other hotel points, and there is bound to be advance notice once they do announce the conversion ratio, so just have a tentative plan of what to do with your SPG points depending on what they announce, but if the announcement is not exactly within one of your expectations, re-evaluate that tentative plan after that announcement.
Apr 3, 2016, 12:23 pm
#3387
Join Date: Sep 2010
Location: Chicago
Programs: Hyatt Glob; UA 1K; BonVoyage LTT (RIP SPG); HH Dia; JX Insighter
Posts: 1,644
there is bound to be advance notice once they do announce the conversion ratio, so just have a tentative plan of what to do with your SPG points depending on what they announce, but if the announcement is not exactly within one of your expectations, re-evaluate that tentative plan after that announcement.
Apr 3, 2016, 1:45 pm
#3388
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,690
Very good post for two reasons. One, as an independent international traveler, whether for business or pleasure, Airbnb provides a very good option. That said, I don't think Airbnb is a realistic option for 90% of corporate travelers. Two, it is clear to most people who travel a lot outside of the US just how much Marriott stands to lose if they blow it with SPG frequent guests. That fact appears to be less clear to people in the US.
When traveling for my employer, I am not allowed to stay at Airbnb by company policy, though the corporate rates that have been negotiated with Hilton, SPG and Marriott are excellent (and I have also used them for personal travel, which is allowed).
So, from that perspective, Airbnb isn't a "threat" to SPG, et al, since I can't use them.
But also, Airbnb has some restrictions that hotels don't, when it comes to odd check-in and out times, and it's not really practical for last minute travel.
In sum, I don't see either as better than the other, just different options for different circumstances.
Apr 3, 2016, 3:10 pm
#3389
Join Date: Oct 2013
Posts: 54
If you are concerned that your SPG points will have significantly reduced value without warning, then transfer your points out before the closing date and burn them as you earn them.
Last edited by ftrbt; Apr 3, 2016 at 3:17 pm
Apr 3, 2016, 3:18 pm
#3390
Moderator: Mileage Run, InterContinental Hotels
Join Date: May 2004
Posts: 5,940
I'm surprised to read this, seeing that there must be hundreds of thousands of non-chain hotels in the world. I googled, but could not find anything to support this assertion. Could you please point me in the right direction?