Marriott International announced their acquisition of Starwood hotels and Resorts Worldwide on November 16, 2015. They have purchased the hotel chain which includes the brands Westin, the W, Sheraton and St. Regis for a total of $12.2 billion in stocks and cash. This deal was the second-largest in hotel industry history, and this merger will make Marriott the largest hotel chain in the world. Together, they will have more than 5,500 owned or franchised hotels with 1.1 million rooms in over 100 countries.
The news of this acquisition is still very new, and its long-term effects are yet to be seen. It is too soon to speculate on what the impact will be on our industry, but we do hope that these two powerful brands will keep best practices from each brand to benefit its loyal members. In the coming weeks, many questions will be on our minds: What does this mean for corporations in regard to negotiations? Will the two companies incorporate best practices to bring better value to the traveler?
There’s definitely more to come on this new development, and I look forward to sharing more as this transition progresses.
-Mimi Cleary, Vice President, Supplier Relations & Strategic Sourcing