In breaking news, Marriott International have announced the acquisition of Starwood Hotels & Resorts worldwide.
The merger will expand the company’s portfolio to over 5,500 hotels in over 100 countries.
According to J.W. Marriott, Jr. of Marriott International, welcoming Starwood into the Marriott family is a boost for the brand:
“We have competed with Starwood for decades and we have also admired them. I’m excited we will add great new hotels to our system and for the incredible opportunities for Starwood and Marriott associates.”
J.W. Marriott, Jr., Executive Chairman and Chairman of the Board, Marriott International
The merger, which was announced today, is another step forward in Marriott’s growing empire, and will make them the largest hotel company in the world, offering a broader range of lodging choices for guests (across 30 brands) and unlocking additional value for Marriott and Starwood shareholders. The transaction combines Starwood’s leading lifestyle brands and international footprint with Marriott’s strong presence in the luxury and select-service tiers.
“We are excited to play a vital role in the creation of the biggest and best hotel company in the world with tremendous upside potential. The combination of our two companies brings together the best in innovation, culture and execution.”
Adam Aron, Chief Executive Officer on an interim basis, Starwood Hotels & Resorts Worldwide
It’s also great news for loyalty rewards customers. Marriott Rewards, with 54 million members, and Starwood Preferred Guest, with 21 million members, are among the industry’s most-awarded loyalty programs, driving significant repeat business. Their respective rewards programs should grow even stronger as a result of this new merger.
