What to know about Marriott’s Starwood deal
 
What to know about Marriott’s Starwood deal
16 NOVEMBER 2015 9:45 AM
GLOBAL REPORT—The announcement that Marriott International will acquire Starwood Hotels & Resorts Worldwide fits Marriott's brand-buying pattern of recent years, as the company grew its footprint by acquiring Gaylord Hotels, Africa’s Protea Hotels and Canada’s Delta Hotels & Resorts.

Those latter three deals were of a similar size and scope ($100 million to $200 million in total consideration, averaging approximately 10 times earnings before taxes, interest, depreciation and amortization), which Marriott President and CEO Arne Sorenson acknowledged during a first-quarter earnings call in May.
 
“We would love to do more deals if there are more deals in that meet those kinds of parameters,” he said. 
 
Which brought Sorenson to Starwood—more specifically, whether Marriott had any interest in acquiring the chain. 
 
“You can see there are quite profound differences between the deals we’ve done and that hypothetical transaction,” he said.
 
Not so hypothetical anymore, Marriott announced its intention to acquire Starwood for $12.2 billion, mostly in the form of stock. Here’s what you need to know about the announcement, the timeline of Starwood’s strategic review and what industry insiders think of the deal. 
 
HNN will continue to update this page as developments occur.

 
Marriott-Starwood deal is a 'game changer'
By Terence Baker, Reporter, Europe
Marriott International’s $12.2-billion takeover of Starwood Hotels & Resorts marks the creation of a new giant in the hotel sector.
 
     
 
  We should have seen Marriott/Starwood coming
By Stephanie Ricca, Editor-in-Chief
We should have seen it coming that Marriott International would emerge as the likely buyer of Starwood Hotels & Resorts Worldwide.
     
 
By Sean McCracken and Bryan Wroten
Analysts said Marriott International might be forced to re-examine brands amid a merger with Starwood Hotels & Resorts Worldwide.
     
  Infographic: Marriott/Starwood brand overlap
By The HNN editorial staff
Brand overlap is a looming issue for the combined giant of Marriott and Starwood, and both companies contribute the most might to the upper-upscale and upscale segments. 
     
 
By Patrick Mayock, Editor
For now Marriott Rewards and SPG remain two separate loyalty programs. Eventually combining them will be one of the deal’s biggest challenges—and opportunities.
     
  Global brand maps for Marriott, Starwood
By Stephen R. Hennis, STR Analytics
These interactive infographics allow you to see the worldwide distribution of Marriott and Starwood properties and search by class and brand.
     
 
By Sean McCracken and Bryan Wroten
Reaction from owners to Marriott International’s planned acquisition of Starwood Hotels & Resorts Worldwide has been largely positive, but questions still loom about property-level impacts.
     
 
By the HNN editorial staff
Marriott International’s proposed acquisition of Starwood Hotels & Resorts Worldwide will propel it well past the 1-million-room mark.

 

Year in review: Starwood Hotels & Resorts Worldwide

    10 February 2015: Starwood Hotels to launch another soft brand
     
 
  17 February 2015: Why Starwood’s van Paasschen resigned
 
24 March 2015: Post-CEO exit, Starwood urges unit growth 
 
17 April 2015: Aron Q&A: What’s next for Starwood
 
29 April 2015: Don’t expect Hilton to buy Starwood, CEO says
     
    30 April 2015: Starwood chairman, CEO talk strategic review 
 
8 May 2015: Marriott’s CEO shares 4 futures for Starwood
 
28 May 2015: Who will win the Starwood Sweepstakes?
 
1 June 2015: Sheraton refreshed as Starwood fate unclear
     
 
  3 June 2015: Sternlicht’s sharp critique of Starwood Hotels
 
30 July 2015: Starwood Hotels CEO mum on sale rumors
 
3 August 2015: Who should get Starwood’s brands
 
19 August 2015: Investors shift as Starwood’s review rolls on
 
29 October 2015: Starwood decision expected within 60 days
 
4 November 2015: Hyatt CEO mum on Starwood rumors


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