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"
Nov 18, 2015, 12:13 pm
#781
A FlyerTalk Posting Legend
Join Date: Aug 2002
Programs: UALifetimePremierGold, Marriott LifetimeTitanium
Posts: 71,110
Cheers. Sharon
Nov 18, 2015, 12:17 pm
#782
FlyerTalk Evangelist
Join Date: Feb 2006
Location: A festering pit; a pustule of a fistula set athwart the miasmic swamps of the armpit of the Gulf of Mexico - a Godforsaken wart upon a dark crevasse of the World. (IAH)
Programs: UA Lifetime Gold, BA Silver, Marriott Lifetime Plat, Hilton Gold, Accor Gold
Posts: 31,403
Besides SPG, which other chain offers guaranteed 4pm check-out? I doubt the 4pm check-out will make it through the merger, so which chain are you thinking of changing to?
BTW - saw this in NYTimes article:
"After the merger, the combined Marriott-Starwood will be the world’s largest hotel network by some margin, and its commensurately large base of frequent customers will make it difficult to offer benefits like guaranteed 4 p.m. checkout; if too many customers are entitled to such a late checkout, hotels will be left without rooms for guests checking in."
Cheers.
BTW - saw this in NYTimes article:
"After the merger, the combined Marriott-Starwood will be the world’s largest hotel network by some margin, and its commensurately large base of frequent customers will make it difficult to offer benefits like guaranteed 4 p.m. checkout; if too many customers are entitled to such a late checkout, hotels will be left without rooms for guests checking in."
Cheers.
ETA - Also, in four years as a Hyatt Diamond, I have never once been denied a 4pm late checkout request, and I generally make the request at the time of check-in to ensure that key cards are keyed through 4pm on Sunday. Most check-in agents for Hyatt proactively ask me if I want 4pm late checkout.
Last edited by Anglo Large Clawed Otter; Nov 18, 2015 at 12:35 pm
Nov 18, 2015, 12:19 pm
#783
Suspended
Join Date: Jun 2009
Location: YYZ
Programs: AC E50K (*G) WS Gold | SPG/Fairmont Plat Hilton/Hyatt Diamond Marriott Silver | National Exec Elite
Posts: 19,284
How late a check out? Is it to 4pm? And unfortunately for most, Fairmont has a pretty small footprint. Any other chains that offer to 4pm? BTW - I'm not knocking the 4pm. It's a nice bennie. One I've not had to use very often, but can see how it comes in handy for others.
Cheers. Sharon
Cheers. Sharon
Nov 18, 2015, 12:50 pm
#784
Join Date: Oct 2010
Location: Temecula, Ca.
Programs: Marriott Lifetime Platinum Elite, SPG Platinum
Posts: 273
I am curious if SPG members are planning on using their points before this merger to avoid any devaluation. I have well over 200,000 SPG points and I would rather use them vs going to Marriott and I am curious if this is what other SPG members are considering.
I also have a significant amount of Marriott points as well (380,000) but they are nearly as valuable as my SPG points.
I have not read through this entire thread but I am hoping someone can let me know the best strategy at this point.
I also have a significant amount of Marriott points as well (380,000) but they are nearly as valuable as my SPG points.
I have not read through this entire thread but I am hoping someone can let me know the best strategy at this point.
I'm transferring about 30% to my AA account, another 10% to Alaska Air, but I don't have as of yet another place to put them. The balance is quite high so I don't want to screw it up. Just wish I knew what the conversion rate is going to be. Guess I'll have to wait it out.
Nov 18, 2015, 12:52 pm
#785
Join Date: Feb 2010
Programs: MR-Amb, Hyatt-Globalist, AA-EXP
Posts: 1,744
How late a check out? Is it to 4pm? And unfortunately for most, Fairmont has a pretty small footprint. Any other chains that offer to 4pm? BTW - I'm not knocking the 4pm. It's a nice bennie. One I've not had to use very often, but can see how it comes in handy for others.
Cheers. Sharon
Cheers. Sharon
Nov 18, 2015, 12:54 pm
#786
Join Date: Mar 2010
Location: USA
Programs: Many. Some top-tier, others not.
Posts: 281
I have a large amount of points that I'm also trying to figure out what to do with them. While I don't think it's an emergency yet, it could be in the next few months.
I'm transferring about 30% to my AA account, another 10% to Alaska Air, but I don't have as of yet another place to put them. The balance is quite high so I don't want to screw it up. Just wish I knew what the conversion rate is going to be. Guess I'll have to wait it out.
I'm transferring about 30% to my AA account, another 10% to Alaska Air, but I don't have as of yet another place to put them. The balance is quite high so I don't want to screw it up. Just wish I knew what the conversion rate is going to be. Guess I'll have to wait it out.
Nov 18, 2015, 12:59 pm
#787
Join Date: Oct 2010
Location: Temecula, Ca.
Programs: Marriott Lifetime Platinum Elite, SPG Platinum
Posts: 273
Nov 18, 2015, 1:05 pm
#788
FlyerTalk Evangelist
Join Date: Feb 2006
Location: A festering pit; a pustule of a fistula set athwart the miasmic swamps of the armpit of the Gulf of Mexico - a Godforsaken wart upon a dark crevasse of the World. (IAH)
Programs: UA Lifetime Gold, BA Silver, Marriott Lifetime Plat, Hilton Gold, Accor Gold
Posts: 31,403
Regardless of mergers, I regularly reassess what programs work best for me, and FlyerTalk has been a good place to aid that process. I've made adjustments over the years as programs like bmi Diamond Club disappeared, as programs like SkyMiles changed, as programs like Executive Club actually became more lucrative for my travel patterns (then less so, with devaluations this year), etc.
I'll continue to change as the programs do, and will keep checking FT for news or educated guesses as to what is or may be changing. It has worked pretty well so far.
Nov 18, 2015, 1:22 pm
#789
FlyerTalk Evangelist
Join Date: Feb 2006
Location: A festering pit; a pustule of a fistula set athwart the miasmic swamps of the armpit of the Gulf of Mexico - a Godforsaken wart upon a dark crevasse of the World. (IAH)
Programs: UA Lifetime Gold, BA Silver, Marriott Lifetime Plat, Hilton Gold, Accor Gold
Posts: 31,403
I'm curious, based upon your apparently vast experience with frequent-user programs, how often have you been "scrambling at the last minute", or even in danger of such? Has there ever been a situation where you weren't given any notice of significant changes to any of the programs?
Nov 18, 2015, 1:32 pm
#790
Join Date: Mar 2010
Location: USA
Programs: Many. Some top-tier, others not.
Posts: 281
Quite a few. Just this year AA eliminated award stopovers and OneWorld Explorer awards without notice. DL upped their redemption rates a couple years back with no notice, then ditched the award chart entirely without notice. AS changed earning rates on BA metal without notice. I'm sure there are others that I can't recall at the moment.
With this Marriott/Starwood transaction there will be notice, I'm guessing months of it. So I fail to understand your sense of urgency.
Nov 18, 2015, 1:33 pm
#791
Join Date: Nov 2004
Location: YYZ, HKG, MFM
Programs: AC35K, AS MVP, WS Gold, ITA EP, Marriott Plat, Hyatt-Explorist, IHG Diamond
Posts: 2,019
Quite a few. Just this year AA eliminated award stopovers and OneWorld Explorer awards without notice. DL upped their redemption rates a couple years back with no notice, then ditched the award chart entirely without notice. AS changed earning rates on BA metal without notice. I'm sure there are others that I can't recall at the moment.
Nov 18, 2015, 1:35 pm
#792
Join Date: Oct 2010
Location: Temecula, Ca.
Programs: Marriott Lifetime Platinum Elite, SPG Platinum
Posts: 273
I know I've sounded kind of panicky about what will happen with my points in the future, but nothing like those people that aren't reading their emails about these changes.
Those that are not paying attention may be in for a rude awakening. Talk about upset people posting now, just wait until the changes occur. Katie bar the door.
Those that are not paying attention may be in for a rude awakening. Talk about upset people posting now, just wait until the changes occur. Katie bar the door.
Nov 18, 2015, 1:35 pm
#793
FlyerTalk Evangelist
Join Date: Feb 2006
Location: A festering pit; a pustule of a fistula set athwart the miasmic swamps of the armpit of the Gulf of Mexico - a Godforsaken wart upon a dark crevasse of the World. (IAH)
Programs: UA Lifetime Gold, BA Silver, Marriott Lifetime Plat, Hilton Gold, Accor Gold
Posts: 31,403
I'm curious, based upon your apparently vast experience with frequent-user programs, how often have you been "scrambling at the last minute", or even in danger of such? Has there ever been a situation where you weren't given any notice of significant changes to any of the programs?
That's interesting. Every example you gave was a situation that occurred with no notice. There was nothing at all you could have done to plan for these, is that correct?
With this Marriott/Starwood transaction there will be notice, I'm guessing months of it. So I fail to understand your sense of urgency.
With this Marriott/Starwood transaction there will be notice, I'm guessing months of it. So I fail to understand your sense of urgency.
Nov 18, 2015, 1:46 pm
#794
Join Date: Jul 2001
Programs: Marriott LT Tit; Hyatt Explorist; Hilton CC Gold; IHG CC Plt; Hertz (MR) 5 star
Posts: 5,536
Marriott does give redemption stay credits now :
Redemption Stay Credit
Even when you stay using points, it counts. Beginning November 1, 2015, we’ll provide your account Elite nights credit when you use points for stays. So you can save your cash, boost your status, and get more Rewards as a Silver, Gold or Platinum Elite member.
Redemption Stay Credit
Even when you stay using points, it counts. Beginning November 1, 2015, we’ll provide your account Elite nights credit when you use points for stays. So you can save your cash, boost your status, and get more Rewards as a Silver, Gold or Platinum Elite member.
I used to burn my MR points by getting $1K in gift certs which I could use to pay for my room nights (program was cancelled a few years ago). That way, I could pay for the room with gift certs and have the nights count toward my annual/LT status.
Nov 18, 2015, 1:46 pm
#795
Join Date: Jan 2013
Location: CEB - primary/YVR -secondary
Programs: AC*Super Elite (100K) / PR*Elite / AY*Platinum (OWE) / SPG*Bonvoy Titanium (LTT)
Posts: 2,272
At the end of the day, there's really not much we can do if Marriott decides to gut our current program, except leave if the merged/new program is not to our liking. No point staying with Marriott if we think/feel there's no worthwhile benefits.
But there is LHW, GHA, Hyatt, etc. that offers late check-out and that special "wow" factor. And for those looking for suite alternatives, try looking at regular/luxury serviced apartments.
But there is LHW, GHA, Hyatt, etc. that offers late check-out and that special "wow" factor. And for those looking for suite alternatives, try looking at regular/luxury serviced apartments.