Marriott completes the starwood Acquisition
Marriott international completes acquisition of Starwood Hotels & Resorts Worldwide, creating the world’s largest hotel company
Marriott International, Inc. (NASDAQ: MAR) has completed its acquisition of Starwood Hotels & Resorts Worldwide, Inc., creating the world’s largest hotel company. Marriott now offers the most comprehensive portfolio of brands including leading lifestyle brands, a significant global footprint, and leadership in the luxury and select-service tiers as well as the convention and resort segment. With immediate effect, Marriott will match member status across Marriott Rewards – which includes The Ritz-Carlton Rewards – and Starwood Preferred Guest (SPG), enabling members to transfer points between the programmes for travel and exclusive experiences. “Throughout our nearly 90-year history we have never stopped searching for fresh ways to serve our guests. With the addition of Starwood’s strong brands, great properties, and talented people, we have dramatically expanded our ability to provide the best experiences to our customers. We also welcome the tremendous responsibility as the world’s largest hotel company to be a global steward, providing new opportunities for our associates and building the economic strength of the communities we call home,” said JW Marriott, Jr, executive chairman and chairman of the board of Marriott International.
“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 CEO, Marriott International. The new company will operate or franchise more than 5,700 properties and 1.1 million rooms, representing 30 leading 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.
Raj Menon, COO, Asia Pacific (excluding Greater China), Marriott International, revealed at a press conference that the company is committed to honour all the Starwood commitments in India, for both the existing and under development properties.