Marriott announced about merge

Marriott announced about merge

19.11.2015 News

Marriott announced about mergeMarriott is buying Starwood to make the largest hotel company in the world.

Together, the companies will operate or franchise 5,500 hotels with a total of 1.1 million rooms. The company will span 100 countries.

Marriott International (MAR) and Starwood Hotels & Resorts Worldwide (HOT) announced the $12.2 billion deal on Monday.

Starwood brands include W Hotels, St. Regis, Westin and Sheraton. In addition to its eponymous chain, Marriott also operates Courtyard and Residence Inn hotels.

The merger was announced more than two weeks after Starwood spun off its time share business to Interval Leisure Group (IILG) for $1.3 billion. Starwood shareholders will receive $7.80 per share as part of the spinoff.

Starwood put itself on the market in April when board chairman Bruce Duncan said the company planned to explore a “full range of strategic and financial alternatives.”

Three Chinese firms reportedly had been vying to take over Starwood: hotel giant Shanghai Jin Jiang International Hotels, sovereign wealth fund China Investment Group and HNA Group, parent company of Hainan Airlines.

Hyatt was reportedly also in talks to purchase Starwood.

Jim Butler, head of global hospitality for corporate law firm Jeffer Mangels Butler & Mitchell, said the merger will make it harder for franchise investors to negotiate deals. Part of Butler’s job is to represent a Chinese investment group that is interested in hotel franchises.

“I’m concerned about the decrease in competition,” he said. “The options have been going down for many years and this is a huge consolidation in the industry. I’m concerned that this is going to make this more difficult to get fair terms for owners and developers. The brands have all the power.”

Other articles

  • Germany has threatened to block the Telegram
    News

    Germany has threatened to block the Telegram

    In Germany, Telegram faces a fine of 55 million euros because the company does not have a contact person who would be obliged to communicate with the state to distribute content that violates the law. Der Spiegel reported this. If the company refuses to cooperate with the German authorities, the application may be blocked in […]

  • The National Bank named four factors for the growth of the hryvnia
    News

    The National Bank named four factors for the growth of the hryvnia

    Significant strengthening of the hryvnia against the dollar is due to four main factors. Vasyl Furman, Deputy Chairman of the Council of the National Bank of Ukraine, said this on the air of Ukraine 24 TV channel. “This is primarily an increase in prices in commodity markets, on the one hand, although, on the other […]

  • Ukraine is among the ten countries with the highest earnings on Bitcoin
    News

    Ukraine is among the ten countries with the highest earnings on Bitcoin

    Ukraine is in the top 10 countries with the highest earnings on Bitcoin in 2020 – Ukrainian investors received about $ 400 million in profits on cryptocurrency. The Ministry of Finance with reference to the data of the analytical company Chainalysis reported this. The authors of the rating draw attention to the obvious dominance of […]

  • The US and the EU will end the trade dispute between Boeing and Airbus
    News

    The US and the EU will end the trade dispute between Boeing and Airbus

    Authorities in the United States and the European Union have agreed to end a long-running trade dispute over the aerospace concerns Boeing and Airbus, which has resulted in mutual tariffs of more than $ 10 billion, said Catherine Ty, the US representative at the trade talks. “The US-EU agreement marks significant progress in reaching a […]

  • Microsoft has named the date of “death” of Windows 10
    News

    Microsoft has named the date of “death” of Windows 10

    Microsoft will stop supporting Windows 10 on October 14, 2025. This was reported by the company’s press service. Thurrot writes that this means the date of the “death” of Windows 10. The publication adds that the new generation of operating system, which Microsoft will present next week, will not be called Windows 10, at least, […]

  • First Radisson hotel opens in historic port city of Odesa
    News

    First Radisson hotel opens in historic port city of Odesa

    On the shores of the Black Sea, Radisson Hotel City Centre Odesa opens as Radisson Hotel Group’s 7th hotel in Ukraine in operation and under development. With an excellent location on the famous Derybasivska Street, Radisson Hotel City Centre Odesa unlocks the cosmopolitan city of Odesa, full of architectural styles, international cuisines and beautiful Black […]

  • Nvidia’s merger agreement with Arm could take more than two years because of China
    News

    Nvidia’s merger agreement with Arm could take more than two years because of China

    It may take Nvidia twice as long to get approval for its deal to buy Britain’s largest technology company, Arm Holdings, which is owned by Japanese financial conglomerate SoftBank Group. After the companies announced a $ 40 billion deal last September, the first hurdle was a class action lawsuit from Google, Qualcomm and Microsoft, which […]

  • Tesla has introduced its fastest electric car. The maximum speed of the Model S Plaid exceeds 320 km per hour
    News

    Tesla has introduced its fastest electric car. The maximum speed of the Model S Plaid exceeds 320 km per hour

    The American company Tesla demonstrated on Thursday in Fremont (California) its new electric car Model S Plaid. The presentation, led by Tesla Chairman Elon Musk, was broadcast on the company’s website. According to the businessman, critics have previously pointed out that the updated version of the Model S car will be “insanely fast”, and expressed […]

Read also

Marriott announced about merge
News

Chinese authorities suspect the head of China Telecom in corruption

The director of a large state enterprise telecommunications, China Telecom was accused by the Chinese government  in corruption. In particular, the government accuses the CEO Chang Xiao Bin in the “global misconduct of the party”, – reported on the website of the Chinese government. The Central Disciplinary Commission opened an investigation into the case. It […]

Next
Marriott announced about merge
News

7 Founders Share What Their Worst Boss Taught Them

Online resource Entrepreneur has published interesting and instructive stories from the lives of American and Canadian founders of the business in which they share the lessons they got from the worse mentors in their life Be  a mentor  Name: Melissa Ben-Ishay, Company: Baked By Melissa Lesson: The importance of open communication. When I think of the […]

Next
Marriott announced about merge
News

Tesla will sell shares for $ 5 billion

Electric car maker Tesla has agreed with brokerage companies to sell its shares for a total of $ 5 billion. This was reported by Bloomberg, citing documents submitted to the US Securities and Exchange Commission (SEC). The shares will be sold at the market price. This is the third sale of Tesla shares in 2020. […]

Next
Marriott announced about merge
News

«Syutkin & Partners» launch a new series of “Capital” at the 5th channel

«Syutkin & Partners» Law Firm prepared a new series of programs “CAPITAL”. The “CAPITAL” discusses topical issues of big business in today’s economic climate: tax audits, economic crimes, corporate conflicts, etc. You will hear the views of industry experts and recommendations of specialized lawyers. Qualitative law business support will save and increase your capital. The […]

Next
Marriott announced about merge
News

Polish IT-company will become a part of Ukrainian SoftServe

January 17 of this year it became known on completion of the procedure of purchase of one of the largest in Eastern Europe IT-company SoftServe assets of Polish developer Coders Centre software, as reported online edition Inventure. The exact amount of the said financial transaction is not advertised, but experts believe that it is between […]

Next
Marriott announced about merge
News

United Airlines announces possible layoffs of more than a third of its staff since October 1

One of the largest airlines in the United States and globally, United Airlines Holdings Inc., warned on Wednesday that it could lay off 36,000 employees since October 1. Almost half of these employees are flight attendants. The company employed about 96,000 people as of December. This step of United confirms the deplorable state of the […]

Next
Marriott announced about merge
News

Kurt Walker became a member of the board of a Ukrainian transport company

Former special representative of the US State Department on Ukraine Kurt Walker on Tuesday, September 1, became an independent member of the Board of Directors of BGS Rail. This was reported by LIGA. Business with reference to the press release. It is noted that Kurt Walker will also work as an advisor to the chairman […]

Next
Marriott announced about merge
News

Samsung Electronics came in first in the world in sales of smartphones

South Korean company Samsung Electronics in the third quarter of this year took first place in the global smartphone market. This was reported on Friday by KBS, citing data from the international research company Counterpoint Research. According to this data, during this period, Samsung controlled 22% of the world market. In second place is the […]

Next
Marriott announced about merge
News

Zuckerberg will make the Facebook feed less politicized

Facebook founder and CEO Mark Zuckerberg is considering how to reduce the amount of political content in the social media news feed. “People don’t want politics and the struggle to dominate while using the social network,” Zuckerberg said. According to him, the company will forever stop the recommendations of groups dealing with political issues. Earlier, […]

Next
Marriott announced about merge
News

The National Bank revoked the license of the Premium bank

National Bank of Ukraine adopted a decision to revoke the banking license and liquidate the PJSC CB “Premium” for  violation of banking legislation in the sphere of financial monitoring. This is stated in the resolution of the National Bank № 68 / BT, dated February 10, 2016, said the press service of the regulator. “The […]

Next
Marriott announced about merge
News

Tesla has suspended the sale of cars for Bitcoin

Tesla will suspend the sale of electric vehicles for Bitcoin due to environmental damage from mining and cryptocurrency transactions. This was stated by the head of the company Elon Musk on Twitter. “Tesla has suspended the purchase of cars using bitcoins. We are concerned about the growing use of fossil fuels, especially coal, which causes […]

Next
Marriott announced about merge
News

Shares Virgin Galactic of Richard Branson dropped by 13% through an additional emission

Shares of aerospace company Virgin Galactic fell by 13.78% to $ 20.71, according to trading data on the New York Stock Exchange. Securities of Richard Branson’s company are getting cheaper due to the background of the announcement of an additional issue emission. Virgin Galactic announced its intention to issue approximately 20.5 million new shares to […]

Next
Marriott announced about merge
News

The Antimonopoly Committee of Ukraine gave the “Gazprom” two months to pay the fine

The Antimonopoly Committee of Ukraine explained its fine to the “Gazprom” in the amount of 86 billion UAH refferint to noncompliance of contact relations from 2009 on gas transit through the Ukrainian territory by the Russian company, with the result that the “Naftogaz” lost significant incomes from the reduction of pumping volume of the fuel […]

Next
Marriott announced about merge
News

The court overturned a fine of € 790 million for 14 airlines

14 famous international airlines, such as British Airways, Air France-KLM, Qantas Airways, Air Canada, etc.,  were accused of cartel in the area of ??cargo and had to pay a fine of € 790 million. The European court of general jurisdiction, the second most important court in the EU, in its verdict says that the decision, […]

Next
Marriott announced about merge
News

Apple has been accused of violating user rights in France

In France, France Digitale claims that Apple violates EU law to protect user data. As found in France Digitale, by default, all devices allow Apple to “run its own advertising campaigns without clearly informing users,” although in the latest version of iOS 14 users are asked if they are willing to allow applications installed on […]

Next
Marriott announced about merge
News

Walt Disney has invested $ 400 mln. to the creation of new cable channel

The Walt Disney Company has decided to invest in the creation of successful new cable channel called Viceland, which involve “fresh” audience and raise ratings. A few weeks after the initial investment, Disney has doubled the amount of investment in a digital media company Vice Media; as a result of the total transaction amount is […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com