{"id":17020,"date":"2015-11-19T18:15:11","date_gmt":"2015-11-19T15:15:11","guid":{"rendered":"http:\/\/en.ldaily.ua\/?p=17020"},"modified":"2015-11-19T18:15:11","modified_gmt":"2015-11-19T15:15:11","slug":"marriott-announced-about-merge","status":"publish","type":"news","link":"https:\/\/ldaily.ua\/en\/news\/marriott-announced-about-merge\/","title":{"rendered":"Marriott announced about merge"},"content":{"rendered":"

\"MarriottMarriott is buying Starwood to make the largest hotel company in the world.<\/h4>\n

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

Marriott International\u00a0(MAR)\u00a0and\u00a0Starwood Hotels & Resorts Worldwide\u00a0(HOT)\u00a0announced the $12.2 billion deal on\u00a0Monday.<\/p>\n

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

The merger was announced more than two weeks after Starwood spun off its time share business to Interval Leisure Group\u00a0(IILG)\u00a0for $1.3 billion. Starwood shareholders will receive $7.80 per share as part of the spinoff.<\/p>\n

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.”<\/p>\n

Three Chinese firms\u00a0reportedly 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.<\/p>\n

Hyatt was reportedly also in talks to purchase Starwood.<\/p>\n

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.<\/p>\n

“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.”<\/p><\/blockquote>\n","protected":false},"featured_media":17017,"menu_order":0,"template":"","newscat":[9],"newstag":[],"issues":[],"class_list":["post-17020","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/17020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/17017"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=17020"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=17020"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=17020"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=17020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}