March 23, 2016

Marriott Leading the Chase for Starwood

I'm a couple of days late with the news that Marriott is once again in the lead to acquire Starwood Hotels & Resorts.  Marriott submitted a revised offer to Starwood's board on Monday and they accepted.  The cash and stock bid trumped the previous all cash offer from the consortium led by Anbang.

This is after Marriott signed a deal to purchase Starwood back in November.

New York EDITION - Marriott property

Will Anbang counter?  According to everything I've read, they probably will. It still may not be enough as Marriott's offer is significantly larger than their original offer and there may be regulatory concerns on behalf of the Chinese (go figure).

St. Regis Bali - future Marriott?

I'm optimistic that Starwood stays independent but also interested to see what Marriott would do with the company.  The combined enterprise will have north of 30 brands.  Marriott held an investor call earlier in the week and outlined some of their plans by brand (keeping W and EDITION separate, potentially merging Luxury Collection into Autograph Collection, etc...).

Anbang has 5 more days to counter so it's not over yet!

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