Starwood Accepts Marriott’s Improved Offer
Well, what has been a bit of a rollercoaster for Starwood now seems like it is ending as it began last year – merging with Marriott. In an offer last week, Chinese company Anbang bested the existing offer that Marriott had made for Starwood. It improved on it enough that Starwood looked as if they were poised to become part of Anbang’s growing family and that the Marriott deal was dead.
But, Marriott has come back with an improved offer over their original and that offer has now been agreed to by Starwood – for $13.6 billion. What does this mean for us in the points world? Many were worried about what Marriott would do with the phenomenal award program Starwood already had in place. Even with assurances from Marriott executives that there was no concern for worry, many were still concerned. The Chinese offer put some hope back in that the program would live on. Now, we are back to wondering what Marriott will do with the Starwood Preferred Guest program. We shall have to wait and see what will come of the SPG system. In the meantime, keep planning your trips and don’t let the points sit there forever!
As this deal has just been announced, I am sure more details will be flowing throughout the day and week. We shall have to see what will come.
Source: WSJ
