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 3, 2016, 3:27 pm
#3391
Join Date: Sep 2010
Location: Chicago
Programs: Hyatt Glob; UA 1K; BonVoyage LTT (RIP SPG); HH Dia; JX Insighter
Posts: 1,644
At an absolute minimum you have until the close of the sale which is still several months in the future; so consider advance notice to be given.
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.
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.
Apr 3, 2016, 4:08 pm
#3392
A FlyerTalk Posting Legend
Join Date: Apr 2004
Location: GVA (Greater Vancouver Area)
Programs: DREAD Gold; UA 1.035MM; Bonvoy Au-197; PCC Elite+; CCC Elite+; MSC C-12; CWC Au-197; WoH Dis
Posts: 52,164
Apr 3, 2016, 4:15 pm
#3393
Join Date: Sep 2010
Location: Chicago
Programs: Hyatt Glob; UA 1K; BonVoyage LTT (RIP SPG); HH Dia; JX Insighter
Posts: 1,644
Apr 3, 2016, 4:16 pm
#3394
Join Date: Mar 2016
Posts: 11
I actually found it more rewarding than SPG. what I meant by more rewarding is earning more free nights per $ spent than SPG. SPG elite benefits are better than Marriott. but one would earn more free night per $ spent with Marriott. OTOH, people here are trashing Marriott reward program so maybe I am not thinking right.
Apr 3, 2016, 4:32 pm
#3395
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
But the Starwood hotels could continue to do that. Many programs have different benefits for different brands.
Apr 3, 2016, 4:39 pm
#3396
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
As has been observed here before, and on its face only, since MAR gives 10pts/$ and SPG gives 2pts/$, the logical ratio is 5:1. But this goes awry when one considers elite bonuses.
I'll just wait and see what they do, knowing that whatever that is people will complain about it.
I'll just wait and see what they do, knowing that whatever that is people will complain about it.
Apr 3, 2016, 5:04 pm
#3397
A FlyerTalk Posting Legend
Join Date: Apr 2004
Location: GVA (Greater Vancouver Area)
Programs: DREAD Gold; UA 1.035MM; Bonvoy Au-197; PCC Elite+; CCC Elite+; MSC C-12; CWC Au-197; WoH Dis
Posts: 52,164
With SPG, you can get Platinum with as few as 21 nights, assuming you have both a Personal and Business Amex.
Apr 3, 2016, 5:25 pm
#3398
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
I'm simply going off of experience from both programs. I get way more suite upgrades at MAR than SPG members suggest. This year, I've stayed 38 nights and 28 were in upgraded suites in Bangkok, Singapore, Houston, Chicago, Mumbai, London, and San Diego. Meanwhile, I booked a paid suite at the Westin in Hyderabad and they told me it was occupied when I arrived, did little to acknowledge they screwed up, and put me in a double bed room. I get that's an isolated incident, but I've never had that happen at a MAR.
I think the wording in MAR is more vague because they have tons of properties in brands without suites. From Marriott T&Cs:
"Upgrades may include rooms with desirable views, rooms on high floors, corner rooms, rooms with special amenities, rooms on Executive Floors, or suites. All upgrades are granted on a space-available basis, as determined at the time of check-in. Upgrades are subject to availability and identified by each hotel. "
I think the wording in MAR is more vague because they have tons of properties in brands without suites. From Marriott T&Cs:
"Upgrades may include rooms with desirable views, rooms on high floors, corner rooms, rooms with special amenities, rooms on Executive Floors, or suites. All upgrades are granted on a space-available basis, as determined at the time of check-in. Upgrades are subject to availability and identified by each hotel. "
Apr 3, 2016, 5:40 pm
#3399
FlyerTalk Evangelist
Join Date: Apr 2008
Location: LGA/JFK/EWR
Programs: UA 1K1.75MM, Hyatt Globalist, abandoned Marriott LTT (RIP SPG), Hertz PC
Posts: 21,172
Apr 3, 2016, 6:47 pm
#3400
A FlyerTalk Posting Legend
Join Date: Apr 2004
Location: GVA (Greater Vancouver Area)
Programs: DREAD Gold; UA 1.035MM; Bonvoy Au-197; PCC Elite+; CCC Elite+; MSC C-12; CWC Au-197; WoH Dis
Posts: 52,164
A common misconception, which causes great consternation when people don't get what they mistakenly believe they deserve. The actual commitment is
Not all suites are Standard Suites, so just because there's a suite doesn't mean a Platinum is entitled to it.
An upgrade to best available room at check-in including a Standard Suite
Apr 3, 2016, 7:17 pm
#3401
Join Date: Dec 2009
Programs: BA Gold; AA Lfe Time PLT ; Marriott Titanium, LFT GLD
Posts: 1,276
however in the last five years out of approximately 150 *wood stays, I have been upgraded to three Presidential Suites, two Governors Suites, about 17 named suites with more than 3 rooms, and over twenty suites that were above the "Standard Suite" criteria.
The best was the Presidential Suite at the Westin Diplomat Miami where the suite had two huge bedrooms, as well as separate dining room, living room, library, kitchen, a grand piano, and 4 bathrooms.
I will miss the SPG program.
Apr 3, 2016, 7:42 pm
#3402
Join Date: Jan 2008
Location: JFK, DCA, BUR, YVR
Programs: AC, AS, BA, DL, HH (D), MR (T/LTP), UA (*S), UScAAre (PLT/1,9MM), WN
Posts: 5,214
So to summarise where this thread currently stands:
Marriott Loyalists: "SPG Platinums are spoiled brats who feel entitled to upgrades and late checkouts that they are not entitled to".
Starwood Loyalists: "But we are entitled - it's in the Terms and Conditions and that's why we choose Starwood".
Marriott Loyalists: "But you won't leave anyway, even after Marriott removes those benefits."
Starwood Loyalists: " We are already starting to. Whether it's Hyatt or AMEX FHR, there are plenty of options which still guarantee a 4pm checkout and upgrade."
Marriott Loyalists: "Ah yes, but they don't have a footprint in small US towns like Marriott, so you will stay."
Starwood Loyalists: "Neither do Starwood. We don't need a 2 star hotel in Terre Haute, Indiana. If we cared about that footprint in small towns we wouldn't be SPG Platinums, we would be Marriott Platinums."
Marriott Loyalists: "SPG Platinums are spoiled brats who feel entitled to upgrades and late checkouts that they are not entitled to".
Starwood Loyalists: "But we are entitled - it's in the Terms and Conditions and that's why we choose Starwood".
Marriott Loyalists: "But you won't leave anyway, even after Marriott removes those benefits."
Starwood Loyalists: " We are already starting to. Whether it's Hyatt or AMEX FHR, there are plenty of options which still guarantee a 4pm checkout and upgrade."
Marriott Loyalists: "Ah yes, but they don't have a footprint in small US towns like Marriott, so you will stay."
Starwood Loyalists: "Neither do Starwood. We don't need a 2 star hotel in Terre Haute, Indiana. If we cared about that footprint in small towns we wouldn't be SPG Platinums, we would be Marriott Platinums."
The way I see it, Marriott is more like a rewards program..The more you stay with us, the more points you get for free nights or package deals or whatever they have there.
SPG on the other hand is more like a loyalty program, the more you stay with them, the more/better benefits you get.
Marriott folks don't same to get that. Loyalty program and rewards program are two different things
My observation is that Marriott elite folks are after free nights/packages. Starwood elite folks are after benefits.
SPG on the other hand is more like a loyalty program, the more you stay with them, the more/better benefits you get.
Marriott folks don't same to get that. Loyalty program and rewards program are two different things
My observation is that Marriott elite folks are after free nights/packages. Starwood elite folks are after benefits.
(1) Match LFT PLT and LFT GLD with SPG to LFT PLT and LFT GLD with MR, and give SPG elites % credit towards LFT PLT (crazy idea I know but it would make huge difference for me)
(2) Move to Hyatt style DSUs for suite upgrades or at least have an SNA program
(3) Go to guaranteed 4pm checkout for PLT
(4) Add stay credits for Elite qualification at 50% number of nights criteria
None of these will happen.... but the new MR program (in the words of the Donald) will be "Beautiful, the best!"
(2) Move to Hyatt style DSUs for suite upgrades or at least have an SNA program
(3) Go to guaranteed 4pm checkout for PLT
(4) Add stay credits for Elite qualification at 50% number of nights criteria
None of these will happen.... but the new MR program (in the words of the Donald) will be "Beautiful, the best!"
2. Hilton has one, which monetised upgrades. I would suspect Marriott adopts SNA, but that it is closer to Hilton's system.
3. Remains to be seen.
4. Why?
If they downgrade the SPG experience only a little bit, then after a few weeks of teeth-gnashing here, life will go on as before. But if they downgrade it a lot, then Marriott will lose a ton of revenue in the long run. Again, I think Marriott understands this. And I think if they do downgrade the SPG experience just a little bit, that will have a lot more to do with getting their arms around the program management than cost savings. The bulk of the cost savings will initially come from layoffs. The rest of the synergies will come over a much longer period of time.
Uh sorry, there is very little in this thread that has any grounding, whatsoever, in logic. This has been one of, if not the most, emotionally driven, hyperbolic threads I've ever seen on FT.
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
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 4, 2016, 1:09 am
#3404
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
You're right, they're only required to upgrade to a Standard Suite. But Marriott isn't required to upgrade to any kind of suite even if suites are available. Often though, they do.
Apr 4, 2016, 6:39 am
#3405
Join Date: May 2003
Location: Philadelphia, LAX, Paris
Programs: UA 1K/2MM, SPG/Marriott Lifetime Titanium, Lifetime HHonors Diamond, Hyatt Globalist, AA Exec Plat
Posts: 3,343
It's time for the Mods to close this tired thread and start a new one called "Speculations on SPG program benefits under Marriott"
The vast majority of recent posts have nothing to do with the original purpose of this thread.
The vast majority of recent posts have nothing to do with the original purpose of this thread.