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"
Dec 1, 2015, 3:54 pm
#1231
Join Date: Mar 2006
Location: YQR
Programs: Nexus/GE, UA/MPG, Bonvoy Tit, LTP
Posts: 1,294
Just a quick question but does anyone know whether you can earn MR points on meals if you are not saying in the hotel ( as you can with SPG)?
Dec 1, 2015, 5:46 pm
#1232
Join Date: Jan 2015
Programs: Marriott Titanium and LTP, Hilton Gold, United Silver
Posts: 786
Dec 1, 2015, 7:31 pm
#1233
Join Date: Nov 2001
Location: GEG
Programs: Marriott Lifetime Platinum, Hilton Diamond, Lifetime SkyClub, AS MVP
Posts: 2,413
Dec 1, 2015, 8:41 pm
#1234
Join Date: Mar 2006
Location: YQR
Programs: Nexus/GE, UA/MPG, Bonvoy Tit, LTP
Posts: 1,294
Oh well. As there is no MR card in Canada ( that I am aware of ) then that's another opportunity lost. It's a shame as I have just found out that a hotel whose restaurant we regularly use, is now in the Autograph Collection. So, if and when the SPG Amex goes we'll be left with no CC for either hotel or airline points ( except AC who we abandoned for UA 2 years ago).
Dec 1, 2015, 9:02 pm
#1235
Join Date: Oct 2009
Location: YXU / YUL
Programs: AA LT Gold, Aeroplan, Marriott Titanium (LT Platinum), HH Diamond
Posts: 407
Oh well. As there is no MR card in Canada ( that I am aware of ) then that's another opportunity lost. It's a shame as I have just found out that a hotel whose restaurant we regularly use, is now in the Autograph Collection. So, if and when the SPG Amex goes we'll be left with no CC for either hotel or airline points ( except AC who we abandoned for UA 2 years ago).
Dec 1, 2015, 10:13 pm
#1236
Join Date: Mar 2006
Location: YQR
Programs: Nexus/GE, UA/MPG, Bonvoy Tit, LTP
Posts: 1,294
Dec 1, 2015, 10:16 pm
#1237
Join Date: Apr 2013
Posts: 275
SVO people are claiming that Interval (the company who bought Starwood's Vacation Ownership side of the house) have a 80 year guarantee on SPG program ensuring Gold status for SVO owners and ability to transfer StarOptions to StarPoints. That's kinda an oddball set up if it actually comes through. I highly doubt that Marriott would agree to running 2 programs side by side. It would be a pain in the rear to collate a member's stay in 2 sets of properties unless of course they plan on running the Starwood portfolio as a completely separate entity. Doubt this as well as they would want to announce this ASAP to stop any bleeding from the program.
Dec 1, 2015, 10:31 pm
#1238
Join Date: Apr 2009
Location: BC, Canada
Programs: Bonvoy Titanium Elite, VSE/MVC Chairman's Club
Posts: 547
SVO people are claiming that Interval (the company who bought Starwood's Vacation Ownership side of the house) have a 80 year guarantee on SPG program ensuring Gold status for SVO owners and ability to transfer StarOptions to StarPoints. That's kinda an oddball set up if it actually comes through.
Without seeing the agreement, I bet there are clauses to deal with the end of the SPG program, buyouts of HOT, etc.
Guarantee of "Gold" and "Platinum" status in a ending/changing program is meaningless.
While I would love for the continuation of transfers to SPG points, that probably just doesn't make sense if the underlying points system changes.
Dec 2, 2015, 4:54 am
#1239
Join Date: Jan 2015
Location: Kuwait (KW)
Programs: Qatar Airways, Hyatt, Hilton, Marriott, IHG
Posts: 2,729
An interesting perspective and potentially hopeful outlook on the future of Starwood under Marriott using Ritz-Carlton as a case study: http://www.forbes.com/sites/micahsol...tomer-service/
Found it to be a good read; Marriott would be smart to not butcher the portfolio and dumb brands down. Granted, they are acquiring some seriously strong names and with a brand like W - arguably the founder of the lifestyle segment - in particular, there might be hope out there after all.
Thoughts?
khabah
Found it to be a good read; Marriott would be smart to not butcher the portfolio and dumb brands down. Granted, they are acquiring some seriously strong names and with a brand like W - arguably the founder of the lifestyle segment - in particular, there might be hope out there after all.
Thoughts?
khabah
Dec 2, 2015, 7:27 am
#1240
Suspended
Join Date: Oct 2003
Location: New York, NY
Programs: Delta - Gold; Starwood - Platinum; HHonors - Diamond & Avis Preferred
Posts: 10,869
An interesting perspective and potentially hopeful outlook on the future of Starwood under Marriott using Ritz-Carlton as a case study: http://www.forbes.com/sites/micahsol...tomer-service/
Found it to be a good read; Marriott would be smart to not butcher the portfolio and dumb brands down. Granted, they are acquiring some seriously strong names and with a brand like W - arguably the founder of the lifestyle segment - in particular, there might be hope out there after all.
Thoughts?
khabah
Found it to be a good read; Marriott would be smart to not butcher the portfolio and dumb brands down. Granted, they are acquiring some seriously strong names and with a brand like W - arguably the founder of the lifestyle segment - in particular, there might be hope out there after all.
Thoughts?
khabah
I'm going to say the W Brand was a response to the above hotels opening
Dec 2, 2015, 7:27 am
#1241
Join Date: Feb 2007
Location: Suburban Philadelphia
Programs: Marriott Lifetime Plat, IHG Gold
Posts: 3,392
I have never really understood the MR points for lifetime deal. All I can figure is that it is a result of the much larger number of low end properties in the Marriott stable such that they want to make sure that you don't have folks making lifetime on the same number of Springhill stays as JW stays. Coming from the Starwood side I would guess that I probably have easily 750K lifetime Starwood points from all my stays and card earning - probably more. Even at a 1:2.5 conversion that would nearly meet the MR LT requirements. Of course my primary hope is that they just grandfather LT SPG Plats to LT MR Plat. However, even if they simply added the stays from the 2 programs and converted LT SPG points at as little as 1:2.5 I be nearly meeting the LT MR Plat requirements (be short a bit on total stays but doable probably by the time a real merger happened. So as long as they don't simply drop all the SPG history, which would defeat at least one point of doing the merger in the first place - namely customer acquisition - I should be ok. Of course I do expect the total benefit package of MR to be a net loss to that of SPG but such is life.
Dec 2, 2015, 7:31 am
#1242
Join Date: Apr 2004
Location: SNA and BNA depending on work and time of year
Programs: UA Silver/ AA EXP/Hyatt Globalist/Marriott Lifetime Titanium/Hilton Diamond
Posts: 2,189
Others include:
Great BRG program which is the best and most liberal in the industry
Make a green choice
Affordable points redemptions -- look for St Regis to go up to Ritz level redemptions which start at 60K per night
Very fair cash and points opportunities
Late checkouts
We do Marriott because of necessity not because we like Marriott. Actually it's probably my least favorite of the big 5 (Marriott, Hilton, Starwood, Hyatt, IHG). I dread to see Marriott butcher what is IMO the best hotel loyalty program.
Dec 2, 2015, 7:31 am
#1243
Join Date: Nov 2015
Location: SJC/LGA/DCA
Programs: SPG P100, DL DM, B6 Mosaic
Posts: 37
Just talked with our company's starwood sales guy--they're clearly worried about being redundant. Upside is that as a result they're offering pretty ridiculous deals now to boost their numbers prior to the decision of which salespeople to lay off post-merger.
Dec 2, 2015, 7:47 am
#1244
Suspended
Join Date: Oct 2015
Posts: 99
The lowest Ritz redeems at 30K MAR points (Tier 1). Using the frequently-touted 1:2.5 ratio, that's roughly 12K starpoints only, or Cat 5.
60K MAR points is already Tier 4, 1 level below the highest.
Dec 2, 2015, 7:48 am
#1245
Suspended
Join Date: Oct 2003
Location: New York, NY
Programs: Delta - Gold; Starwood - Platinum; HHonors - Diamond & Avis Preferred
Posts: 10,869
No you can't. One of the many things SPG members will miss with Marriott.
Others include:
Great BRG program which is the best and most liberal in the industry
Make a green choice
Affordable points redemptions -- look for St Regis to go up to Ritz level redemptions which start at 60K per night
Very fair cash and points opportunities
Late checkouts
We do Marriott because of necessity not because we like Marriott. Actually it's probably my least favorite of the big 5 (Marriott, Hilton, Starwood, Hyatt, IHG). I dread to see Marriott butcher what is IMO the best hotel loyalty program.
Others include:
Great BRG program which is the best and most liberal in the industry
Make a green choice
Affordable points redemptions -- look for St Regis to go up to Ritz level redemptions which start at 60K per night
Very fair cash and points opportunities
Late checkouts
We do Marriott because of necessity not because we like Marriott. Actually it's probably my least favorite of the big 5 (Marriott, Hilton, Starwood, Hyatt, IHG). I dread to see Marriott butcher what is IMO the best hotel loyalty program.
Is you intent to say these are things that (possibly) could be affected/changed in the future?