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Marriott to buy Starwood

Discussion in 'Sports and News' started by YankeeFan, Nov 16, 2015.

  1. YankeeFan

    YankeeFan Well-Known Member

    Good news for all of you with lots of Marriott points:

    Marriott International said on Monday that it had agreed to buy Starwood Hotels and Resorts Worldwide for $12.2 billion in cash and stock, creating the world’s largest hotel company.

    Under the terms of the deal, Marriott will pay $72.08 a share in cash and stock for Starwood, whose brands include Westin, the W, Sheraton and St. Regis. Starwood shareholders would own 37 percent of the combined company.
    ...
    The combined Marriott and Starwood company would have more than 5,500 owned or franchised hotels with 1.1 million rooms around the world, and would have posted more than $2.7 billion in fee revenue for the 12 months ended Sept. 30.

    http://www.nytimes.com/2015/11/17/business/marriott-to-buy-starwood-hotels.html?_r=0
     
    YankeeFan, Nov 16, 2015
    #1
  2. cranberry

    cranberry Well-Known Member

    I have a lot invested in Starwood points. I'll be interested to see how that plays out.
     
    cranberry, Nov 16, 2015
    #2
  3. YankeeFan

    YankeeFan Well-Known Member

    Starwood is my program too.

    Just used a shitload of 'em, but still have a bunch, and still collect them with my credit card use.

    I'd think it will be a good thing. Marriott's program is considered one of the best. I don't think they'll water it down, or do anything to upset the loyal Starwood customers they want to acquire.
     
    YankeeFan, Nov 16, 2015
    #3
  4. Moderator1

    Moderator1 Moderator Staff Member

    Even though I haven't traveled regularly in years, I have about 50,000 points left in each program. But they're facing expiration so saving them until the purchase closes probably won't work.
     
    Moderator1, Nov 16, 2015
    #4
  5. The Big Ragu

    The Big Ragu Moderator Staff Member

    The deal itself is a take under, not a take over. They got Starwood at a 4 percent discount to its value at the close of markets on Friday. Both have seen revenues declining the last few years -- lots of reasons, but I think the rise of AirBnB hasn't helped. It probably makes sense. Marriott dominates in the U.S., and Starwood gets 2/3 of its revenue outside of the U.S.
     
    The Big Ragu, Nov 16, 2015
    #5
  6. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    Funny:

     
    TheSportsPredictor, Nov 16, 2015
    #6
  7. playthrough

    playthrough Moderator Staff Member

    I was a Marriott guy throughout my sportswriting career, then went to work for a company that had a sponsorship deal with IHG so I've been a Holiday Inn guy ever since. Always missed Marriott though, and if this means those points are even more valuable, dang.
     
    playthrough, Nov 16, 2015
    #7
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