In a turn of events Starwood is reported to have accepted a revised offer by Marriott over the Anbang group offer they accepted just last week. What we have here is a bidding war for Starwood Hotels and Resorts.
Starwood Accepts Marriott’s New Offer
The latest bid values the company at $13.6 billion. This is up from Anbang’s $13.2 billion offer just last Friday and much higher than Marriott’s original $12.2 billion offer.
I was talkin to a friend who is a die hard Marriott over the weekend and my take is that Marriott guests are really excited by this deal because it will open up tons of properties to use with their points. At the same time, I’m getting a lot of worried questions from folks with large banks of SPG points fearing their points will be valued far less than they are today.
Which side of this deal are you on and what are you most interested in with this combination?
Don’t forget that there is a great opportunity with the best publicly offered sign up bonus ending soon on both the Starwood Preferred Guest® Credit Card from American Express and the Starwood Preferred Guest® Business Credit Card from American Express as they look to expand their book of business on these cards before the merger. Read the full post about these offers here.