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What’s the scoop with Marriott International and Starwood?
Today’s shock announcement is that Marriott International is to acquire Starwood Hotels & Resorts in a US$12.2 billion deal. The two companies combined will have over 5,500 hotels with 1.1 million rooms across 10 countries and will create the world’s biggest hotel company.
Tell me a little more about Marriott International and Starwood…
The revenue of the two companies for the 12 months ending September 30th, 2015, was more than $2.7 billion. The takeover decision was unanimously decided by both Marriott and Starwood, with the driving force said to be growth. The journey ahead will surely be a long one, and answers about what will happen to the loyalty programs will be eagerly awaited.
What else do I need to know about Marriott International and Starwood?
FlyerTalkers seem to be split about whether or not the deal is a good thing, with some members starting to commiserate and citing it as ‘a disaster’ and even ‘Armageddon’! What’s your take on the takeover?
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