Post by mdkabila on Mar 13, 2024 3:56:51 GMT
With the purchase of Starwood by Marriott , the hotel brand breaks several records, not only on an economic level. In the tourism sector this is undoubtedly the largest transaction ever. 12.2 billion dollars is the mammoth sum with which Starwood Hotels and Resorts passes to Marriott, making those 3.9 billion paid out last week by Expedia for HomeAway appear to be just a handful of peanuts. The largest hotel chain in the world With this move, Marriott becomes the largest hotel chain in the world , the most widespread, with the most rooms and with the most facilities: 30 brands in total; 1.1 million rooms; 5,500 facilities in 100 countries .
In fact, it is not very surprising that Marriott gave the OK for the acquisition, given that its founder Bill Marriott has always been one of the most courageous and visionary investors in Denmark Phone Number international travel. “ This transaction will allow us to expand our presence around the world, reach out to younger travelers and increase growth opportunities for Starwood's already valuable brands. ” said Arne Sorenson , CEO of Marriott. Simply put, Marriott felt it would be easier to purchase what it didn't already have than to build it from scratch: “ By combining Starwood's style with Marriott's strong presence in select areas, as well as the convention and resort segment, we will have a portfolio of sure interest for customers, meeting planners, owners and affiliates . ” Whoever grows wins Some of Sorenson's statements took on a tone of defiance towards the major OLTAs.
Last April, Sorenson declared himself not interested in acquiring Starwood , while Hyatt and other Chinese companies seemed closer to an agreement. But then something changed: evidently the recent, notable acquisitions made by the large portals have pushed the chain to review its strategy . “ We were impressed by what you can accomplish by being bigger, both by looking at what some OLTAs have done in consolidating their space, and by looking at homesharing sites and the world they are trying to enter in the hospitality industry. By looking at all of them we became convinced that strategically, we could offer a higher value product as they get bigger .”
In fact, it is not very surprising that Marriott gave the OK for the acquisition, given that its founder Bill Marriott has always been one of the most courageous and visionary investors in Denmark Phone Number international travel. “ This transaction will allow us to expand our presence around the world, reach out to younger travelers and increase growth opportunities for Starwood's already valuable brands. ” said Arne Sorenson , CEO of Marriott. Simply put, Marriott felt it would be easier to purchase what it didn't already have than to build it from scratch: “ By combining Starwood's style with Marriott's strong presence in select areas, as well as the convention and resort segment, we will have a portfolio of sure interest for customers, meeting planners, owners and affiliates . ” Whoever grows wins Some of Sorenson's statements took on a tone of defiance towards the major OLTAs.
Last April, Sorenson declared himself not interested in acquiring Starwood , while Hyatt and other Chinese companies seemed closer to an agreement. But then something changed: evidently the recent, notable acquisitions made by the large portals have pushed the chain to review its strategy . “ We were impressed by what you can accomplish by being bigger, both by looking at what some OLTAs have done in consolidating their space, and by looking at homesharing sites and the world they are trying to enter in the hospitality industry. By looking at all of them we became convinced that strategically, we could offer a higher value product as they get bigger .”