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Category Archives for SPG.

Marriott/Starwood Merger Challenged in Suit by Hotel Owners in NY & Chicago

Marriott Starwood

Marriott’s merger with Starwood is being challenged by hotel owners in New York and Chicago who say the combination would violate their exclusivity agreements with Starwood. Owners of the Westin Times Square and Sheraton Grand Chicago filed suit Tuesday, arguing the merger would unfairly eat into their business. They are seeking to block Marriott from taking…

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How I got 10,000 courtesy Starpoints from American Express

SPG

With the (probable) upcoming merger between Starwood Preferred Guest and Marriott, nobody really knows what will happen to the programs, the points, or award availability. It is common that every year around late summer, SPG raises the standard bonus on their American Express personal and business cards from 25,000 points up to 30,000 points.  Not wanting…

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Marriott “Zero Buyer’s Remorse”, Anbang Got Too High Profile” for Chinese Govmt

putrajaya-marriott

Marriott CEO Arne Sorenson said on Friday morning that the company has zero buyer’s remorse…though they of course would have loved to acquire Starwood for $1 billion less. “We have the only binding deal with Starwood, we have zero buyer’s remorse. We continue to believe that what we can create by pulling these two companies together…

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Hyatt Submits Offer for Starwood…What?

StarwoodHyatt

My colleagues have to deal with my points and travel obsession on a daily basis and so they take any opportunity to make fun of it (though they have all now redeemed multiple free international trips courtesy of our hobby). I specifically hate April Fools’, but I was so busy at work this morning that…

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Bloomberg: No Way for Marriott to Make Starwood Work Unless They Sell Property, Starwood CEO – We’re on a Wild Ride

SPG

Bloomberg has a few interesting quotes in their latest coverage of the on-going Marriott / Starwood merger saga. Would Marriott need to sell real estate in order to upstage Anbang’s offer? Would investors sacrifice upside for a guaranteed merger close? Meanwhile, Starwood’s CEO told employees in a message to prepare for a wild ride as…

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Starwood Battle Continues – Anbang Raises Offer, “Superior Proposal” to Marriott

Starwood Le Meriden

It’s back on! Anbang has increased their offer for Starwood hotels to $82.75 in cash per share, a level that the Board feels is superior to Marriott’s revised offer.  The board will convene today as previously scheduled, but will immediately adjourn the meeting until April 8th. Anbang’s updated offer is $4.75 per share higher than the…

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Starwood Agrees to Marriott’s Sweetened Bid, Merger Back On

Marriott Revised Starwood Offer

Starwood has accepted a sweetened bid from Marriott that valued at $13.6 billion, besting the offer from China’s Anbang. Starwood shareholders will receive $21 in cash and .80 shares of Marriott common stock for each share of Starwood. The deal values Starwood shares at $79.53 based on Friday’s closing price.  Starwood shareholders will own about…

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