Host Marriott to Purchase 38 Starwood Properties
Apr 10, 2006, 11:49 am
#31
Join Date: Jan 2001
Location: Boston, MA
Programs: AA Lifetime Platinum (3MM), QF Lifetime Gold, Bonvoy Lifetime Platinum, Ex-Hyatt Diamond
Posts: 7,541
Originally Posted by mia
"The hotels will remain in the Starwood system and continue to be managed by Starwood under long-term management agreements."
Host Marriott is a real estate firm. They own hotels operated by: Fairmont, Four Seasons, Hilton, Hyatt, Marriott, Ritz-Carlton, Swissotel, and Westin.
Host Marriott is a real estate firm. They own hotels operated by: Fairmont, Four Seasons, Hilton, Hyatt, Marriott, Ritz-Carlton, Swissotel, and Westin.
Apr 10, 2006, 11:56 am
#32
Join Date: Feb 2004
Location: IND
Programs: CO Plat, *wood Plat
Posts: 90
I am guessing the 19%+ drop today in Starwood (HOT) can be attributed to this?
Maybe some finance savvy FTers can give us their thoughts.....
Thanks.
Maybe some finance savvy FTers can give us their thoughts.....
Thanks.
Apr 10, 2006, 1:01 pm
#33
Join Date: Nov 2000
Location: Upcountry Maui, HI
Posts: 13,311
Originally Posted by geoffriong
I am guessing the 19%+ drop today in Starwood (HOT) can be attributed to this?
-David
Apr 10, 2006, 1:11 pm
#34
Company Representative - Starwood
Join Date: Nov 2000
Location: Austin, Texas
Programs: Marriott Employee Level
Posts: 31,593
Originally Posted by LIH Prem
As this was announced a long time ago, and todays news is just that the deal closed, I doubt it.
-David
-David
http://biz.yahoo.com/bw/060410/20060410005619.html?.v=1
Sincerely,
William R. Sanders
Customer Service Coordinator
Starwood Preferred Services
[email protected]
Apr 10, 2006, 1:31 pm
#35
FlyerTalk Evangelist
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Looks like the equivalent of going ex-dividend.
http://yahoo.reuters.com/stocks/Quot...l=HOT.N&rpc=44
I suspect shareholders will get about $13.60 worth of cash and Host Marriott stock, accounting for the drop.
Also, "Host Marriott also said it would change its name to Host Hotels & Resorts Inc." - hopefully this will avoid future confusion.
http://yahoo.reuters.com/stocks/Quot...l=HOT.N&rpc=44
NEW YORK, April 7 (Reuters) - Starwood Hotels & Resorts Worldwide Inc. (HOT.N: Quote, Profile, Research) on Friday said it planned to delist its Class B shares from listing on the New York Stock Exchange after the market closes on Friday.
...
Under the terms of the deal, Starwood shareholders will receive Host Marriott shares and cash for their Class B Starwood shares. "
...
Under the terms of the deal, Starwood shareholders will receive Host Marriott shares and cash for their Class B Starwood shares. "
Also, "Host Marriott also said it would change its name to Host Hotels & Resorts Inc." - hopefully this will avoid future confusion.
Apr 10, 2006, 1:35 pm
#36
Join Date: Jul 2002
Location: Alamo, CA
Posts: 43
Starwood shareholders of record as of last Friday, will be receiving 0.6122 shares of Host Marriott stock and 50.3 cents in cash.
This comes out to approx $13/sh for every HOT share.
Sara
This comes out to approx $13/sh for every HOT share.
Sara
Apr 10, 2006, 2:13 pm
#37
Join Date: Nov 2000
Location: Upcountry Maui, HI
Posts: 13,311
Originally Posted by Starwood Lurker
Actually, I hear that the stock price was adjusted to reflect the sale of these properties to Host. No doubt there will be some kind of word about that circling in the financial realm that can be verified. Like this maybe:
http://biz.yahoo.com/bw/060410/20060410005619.html?.v=1
http://biz.yahoo.com/bw/060410/20060410005619.html?.v=1
-David
Apr 10, 2006, 2:19 pm
#38
Join Date: Feb 2004
Location: IND
Programs: CO Plat, *wood Plat
Posts: 90
Originally Posted by CPRich
Looks like the equivalent of going ex-dividend.
http://yahoo.reuters.com/stocks/Quot...l=HOT.N&rpc=44
I suspect shareholders will get about $13.60 worth of cash and Host Marriott stock, accounting for the drop.
Also, "Host Marriott also said it would change its name to Host Hotels & Resorts Inc." - hopefully this will avoid future confusion.
http://yahoo.reuters.com/stocks/Quot...l=HOT.N&rpc=44
I suspect shareholders will get about $13.60 worth of cash and Host Marriott stock, accounting for the drop.
Also, "Host Marriott also said it would change its name to Host Hotels & Resorts Inc." - hopefully this will avoid future confusion.
Apr 10, 2006, 5:52 pm
#39
Join Date: Nov 2000
Location: Upcountry Maui, HI
Posts: 13,311
Originally Posted by geoffriong
Thanks for the info. I am not very familiar with market reactions to ex-dividend type payouts like Starwood just completed. Does the ~20% drop possibly include shareholder reaction too or does the payout make today's movement a pure mathematical adjustment? I'm wondering if now might be a good time to buy HOT.
-David
Apr 10, 2006, 7:45 pm
#40
FlyerTalk Evangelist
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Posts: 31,008
Originally Posted by geoffriong
Thanks for the info. I am not very familiar with market reactions to ex-dividend type payouts like Starwood just completed. Does the ~20% drop possibly include shareholder reaction too or does the payout make today's movement a pure mathematical adjustment? I'm wondering if now might be a good time to buy HOT.
It's all pure math. When you hold a share of stock worth $100, and the company issues a dividend of $5 (i.e. shareholders get a $5 check for every share they hold), the stock will drop to $95 the next day (absent any other influences).