Marriott completes Starwood acquisition

Friday, 30 September 2016 00:01 - - {{hitsCtrl.values.hits}}

Marriott has completed its acquisition of Starwood Hotels & Resorts, creating the world’s largest hotel company.

The new company will operate or franchise more than 5,700 properties and 1.1 million rooms, representing 30 brands from the moderate-tier to luxury in over 110 countries.

With the completion of this acquisition, Marriott’s distribution has more than doubled in Asia and the Middle East.

“We believe that Marriott now has the world’s best portfolio of hotel brands, the most comprehensive global footprint, and the most extensive loyalty programs, providing an unparalleled guest experience. Combining Starwood’s brands with ours better enables Marriott to reach our goal of having the right brand in the right place to serve our loyal guests and welcome new ones,” said Arne Sorenson, President and Chief Executive Officer of Marriott International. “We can now provide a better range of choices for our guests, more opportunities for our associates, and greater financial benefits for our owners, franchisees, and shareholders.”

Marriott has already confirmed that it is matching member status across Marriott Rewards – which includes The Ritz-Carlton Rewards – and Starwood Preferred Guest (SPG), enabling members to transfer points between the programs for travel and experiences when they link their accounts.

Marriott launched a microsite on Friday for all members of the combined company’s loyalty programs to learn more about the reciprocal benefits now available and to link accounts.

“Marriott will draw upon the very best each program offers and we can’t wait to show the loyal members of these programs the power and benefits of Marriott and Starwood coming together,” said Stephanie Linnartz, Executive Vice President and Global Chief Commercial Officer.

Marriott’s Board of Directors has increased from 11 to 14 members, with the addition of Bruce Duncan, former Chairman of the Board of Starwood Hotels & Resorts Worldwide, Inc. and President, CEO and Director of First Industrial Real Estate Trust, Inc.; Eric Hippeau, Partner, Lerer Hippeau Ventures; and Aylwin Lewis, Chairman and CEO of Potbelly Corporation. Hippeau and Lewis are also former Starwood board members.

Arne Sorenson remains President and Chief Executive Officer of Marriott International, and Marriott’s headquarters continues to be located in Bethesda, Maryland.