This morning, we received some significant news in the lodging industry. Marriott is purchasing Starwood, a house of hotel brands including Sheraton, Westin, St. Regis, W, Meridian, and others, for 12 billion dollars. The transaction is in the form of a stock exchange, which is somewhat difficult to comprehend. While the merger will result in the creation of the world's largest hotel company, it raises questions about whether Starwood is undervalued. Shareholders of Starwood will receive 0.92 shares of Marriott for each share of Starwood, which suggests that the market believes Starwood's value to be lower. This assumption is supported by the fact that Starwood's stock plummeted more than three percent upon the announcement of the deal. In a takeover situation, it is typically expected that the target company's stock price would rise, making us wonder about the intentions of Starwood's management in accepting this bid. Perhaps we are misunderstanding the transaction, which is why we are grateful to have Arne Sorenson, the President and CEO of Marriott International, and Adam Aaron, the CEO of Starwood Hotels and Resorts, here to clarify the deal. First, I would like to understand why Marriott's stock increased while Starwood's stock decreased. It seems illogical since you are giving your stock to Starwood's shareholders. Sorenson: Well, I am not a market expert, so I cannot provide a definitive answer. My focus is on running a hotel. Jim: Fair enough. Can you then explain why this merger is advantageous for both companies? Sorenson: We believe this deal is tremendous because it allows us to combine our strengths. By bringing these two companies together, we can achieve cost synergies, which should be relatively straightforward. Additionally, we anticipate revenue synergies and improved margins for our hotel owners and franchisees. As a result, we will become a more...
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Starwood friends and family explore rate Form: What You Should Know
Marriott Employee Discount Rates — Code You can book both the rate and a 'Convoy Friends and Family Rate', both are 25% off the employee rate with a 300 annual fee Marriott Travel & Leisure Rates — LoyaltyLobby Feb 9, 2023 — You will need to book directly from Convoy Friends & Family Rates and Marriott Premier Rewards Premier Visa Debit Card — 30% off. Your travel must be purchased within 30 days of the date you request the travel rate, and you will be the only party. Marriott Travel & Leisure Rates — Travel for your employees and friends Dec 25, 2023 — Marriott is changing how employees can book the 'Travel Friends' rate: a travel agent needs to call the MGS. Note you have been Marriott Travel & Leisure Rates Marriott Travel & Leisure Rates Marriott Travel & Leisure Rates — The Travel Friend Discount May 24, 2023 — The current Marriott Travel and Leisure Discount will be available for a limited time  Marriott Travel & Leisure Rates — Travel Rates for your business Marriott Travel & Leisure Rates Marriott Travel & Leisure Rates — Travel Rates for your family members & friends Marriott Travel & Leisure Rates — Travel Rates for you and your children Marriott Travel & Leisure Rates — Travel Rates for you and your parents Marriott Travel & Leisure Rates — Travel Rates for you, your partner & dependents or other guests Marriott Travel & Leisure Rates — Travel Rates for employees at the Marriott Business Center Marriott. Marriott Travel & Leisure Rates — Travel Rates Marriott Travel & Leisure Rates — Travel Rates from your hotel Marriott Travel & Leisure Rates — Travel Rates for your guests & employees Marriott Travel & Leisure Rates — Travel Rates Marriott Travel & Leisure Rates — Travel Rates for your guest & guests Marriott Travel & Leisure Rates — Travel Rates May 25, 2023 — Marriott Travel & Leisure Rates, the “Trip to Work” program, will be eliminated from the Marriott Travel and Leisure website.  Marriott Travel and Leisure Rates at hotels will continue; however, Marriott Travel And Leisure Rates will no longer be listed when making a reservation or when logging in.
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