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Marriott Int’l Finally Acquires Starwood Hotels & Resorts

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By Dipo Olowookere

The acquisition of Starwood Hotels & Resorts Worldwide has finally been completed by Marriott International, creating the world’s largest and best hotel company.

With the deal concluded, Marriott now offers the most comprehensive portfolio of brands including leading lifestyle brands, a significant global footprint, and leadership in the luxury and select-service tiers as well as the convention and resort segment.

It was gathered that from now on, Marriott will match member status across Marriott Rewards – which includes The Ritz-Carlton Rewards – and Starwood Preferred Guest (SPG), enabling members to transfer points between the programs for travel and exclusive experiences when they link their accounts later today.

“Throughout our nearly 90-year history we have never stopped searching for fresh ways to serve our guests. With the addition of Starwood’s strong brands, great properties, and talented people, we have dramatically expanded our ability to provide the best experiences to our customers.

“We also welcome the tremendous responsibility as the world’s largest hotel company to be a good global steward, providing new opportunities for our associates and building the economic strength of the communities we call home,” said J.W. Marriott, Jr., Executive Chairman and Chairman of the Board of Marriott International.

According to Arne Sorenson, President and Chief Executive Officer of Marriott International, “We believe that Marriott now has the world’s best portfolio of hotel brands, the most comprehensive global footprint, and the most extensive loyalty programs, providing an unparalleled guest experience. Combining Starwood’s brands with ours better enables Marriott to reach our goal of having the right brand in the right place to serve our loyal guests and welcome new ones.”

“We can now provide a better range of choices for our guests, more opportunities for our associates, and greater financial benefits for our owners, franchisees, and shareholders.”

The new company will operate or franchise more than 5,700 properties and 1.1 million rooms, representing 30 leading brands from the moderate-tier to luxury in over 110 countries. With the completion of this acquisition, Marriott’s distribution has more than doubled in Asia and the Middle East.

Best-in-Class Loyalty Programs

Marriott Rewards – which includes the Ritz-Carlton Rewards – and SPG are the most recognized and awarded loyalty programs in hospitality. Together, these programs will offer members more benefits when they link their accounts, as well as new destinations such as Aruba, Tuscany’s Serchio Valley and Kruger National Park in South Africa for SPG members and the Maldives, Bora Bora and Santorini, Greece for Marriott Rewards and The Ritz-Carlton Rewards members.

“Marriott will draw upon the very best each program offers and we can’t wait to show the loyal members of these programs the power and benefits of Marriott and Starwood coming together,” said Stephanie Linnartz, Executive Vice President and Global Chief Commercial Officer.

Marriott will launch a microsite later today, http://ift.tt/2cxSHgH, for all members of the combined company’s loyalty programs to learn more about the reciprocal benefits now available and to link accounts.

New Board Members and Shares Listing

Effective today, Marriott’s Board of Directors has increased from 11 to 14 members, with the addition of Bruce Duncan, former Chairman of the Board of Starwood Hotels & Resorts Worldwide, Inc. and President, CEO and Director of First Industrial Real Estate Trust, Inc.; Eric Hippeau, Partner, Lerer Hippeau Ventures; and Aylwin Lewis, Chairman and CEO of Potbelly Corporation. Messrs. Hippeau and Lewis are also former Starwood board members. Full biographies on each of the three new board members are available at http://ift.tt/1ASnASA.

Before market opens, Starwood’s shares will cease trading on the New York Stock Exchange. As previously announced, Starwood shareholders will receive $21.00 in cash and 0.80 shares of Marriott International, Inc. Class A common stock for each share of Starwood Hotels & Resorts Worldwide, Inc. common stock.

Transaction Benefits

Marriott’s acquisition of Starwood enables the combined company to expand the scope of its distribution and portfolio while deploying its larger scale to realize cost efficiencies in its corporate and property operations.

As previously stated, Marriott is confident the company can achieve $250 million in annual cost synergies. Other synergies should come in the form of leveraging operations and sharing best practices.  Combined sales expertise and improved account coverage are expected to provide both enhanced efficiencies and increased revenue opportunities.

“These enhanced efficiencies and revenue opportunities should drive improved property-level profitability as well as greater owner and franchisee preference for the combined company’s brands, which will encourage new hotel development,” Sorenson said. “As new travel destinations emerge, Marriott can be counted on to be there.”

One-time transaction costs for the merger are expected to total approximately $140 million. Marriott intends to take the steps necessary to cause Starwood’s outstanding public debt to be pari passu with the outstanding public debt of Marriott International by the end of 2016.

Marriott remains committed to maintaining an investment grade credit rating and to continue managing the balance sheet prudently after the merger.

Arne Sorenson remains President and Chief Executive Officer of Marriott International, and Marriott’s headquarters continues to be located in Bethesda, Maryland.

Advisors:

Lazard and Citigroup were financial advisors to Starwood Hotels & Resorts Worldwide and Deutsche Bank Securities and Goldman Sachs were the financial advisors to Marriott International. Cravath, Swaine & Moore served as legal counsel to Starwood Hotels & Resorts Worldwide and Gibson, Dunn & Crutcher served as legal counsel to Marriott International on the transaction.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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FG to Introduce Biometric Single Travel Emergency Passport 2026

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By Adedapo Adesanya

The federal government has announced plans to introduce the new biometric emergency travel document, the Single Travel Emergency Passport (STEP), by 2026 as part of reforms aimed at modernising Nigeria’s immigration processes and strengthening border security.

Initially revealed in November, the Comptroller General of the Nigeria Immigration Service (NIS), Mrs Kemi Nandap, speaking on Monday in Abuja during the decoration of 46 newly promoted Assistant Comptrollers of Immigration (ACIs) to the rank of Comptrollers of Immigration, said the proposed STEP would replace the current Single Travel Emergency Certificate (STEC) and is designed to enhance efficiency, security, and global acceptability of Nigeria’s emergency travel documentation.

She explained that the new emergency passport would be biometric-based and deployed through alternative, technology-driven platforms to ensure seamless service delivery.

“I’m looking forward to embracing 2026, which will also be part of all the reforms we’re doing to ensure that we optimise our services, in terms of visas, passport production lines and our contactless solutions,” she said.

The NIS boss noted that the STEP is one of several technology-driven innovations being rolled out by the Service to improve operational efficiency and meet its constitutional mandate.

She also highlighted the recent introduction of the ECOWAS National Biometric Identity Card (ENBIC), describing it as a critical step towards seamless regional integration and secure cross-border movement within West Africa.

“We want to ensure that our processes are seamless. The STEP, which we are going to launch early next year, is another key programme that will further strengthen our service delivery,” Nandap added.

The Comptroller General charged the newly decorated officers to demonstrate heightened vigilance, professionalism, and integrity, particularly in light of Nigeria’s prevailing security challenges.

“Your decoration today symbolises the trust reposed in you and carries with it expectations of enhanced leadership, sound judgement, accountability and exemplary conduct,” she said.

Mrs Nandap stressed that officers at senior levels must combine professional competence with strong leadership qualities, including clarity of vision, decisiveness, empathy, and the ability to mentor and inspire subordinates.

“Considering the current security challenges our nation faces, we must remain vigilant and unrelenting in the fight against multifaceted threats. Your actions will set the tone and reflect the core values and reputation of this Service,” she warned.

She reaffirmed the Service’s zero tolerance for indolence and unprofessional conduct, urging officers to embrace innovation, adapt to emerging challenges, and place the interest of the NIS above personal considerations.

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Moving to France After Retirement: What You Need to Know First

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The idea of spending retirement in France comes up often — sometimes because of the climate, sometimes because of the healthcare system, and sometimes simply because of the way everyday life is organised there. But once the initial appeal fades, a practical question usually follows: under what conditions can a retiree actually live in France legally?

The short answer is: it’s possible.
The longer answer requires a closer look.

No “retirement visa,” but a workable solution

Unlike some countries, France does not offer a dedicated retirement visa. This often comes as a surprise. In practice, however, most retired foreigners settle in France under the long-stay visitor visa — a residence status that is not tied to age or professional background.

The logic behind it is straightforward: France allows people to live in the country if they do not intend to work and can support themselves financially. For this reason, the visitor visa is used not only by retirees, but by other financially independent residents as well.

Income matters more than age

When an application is reviewed, age itself is rarely decisive. Financial stability is.

French authorities do not publish a fixed minimum income requirement. What they assess instead is whether the applicant has sufficient and reliable resources to live in France without relying on public assistance. This usually includes:

  • a state or private pension;
  • additional regular income;
  • personal savings.

In practice, the clearer and more predictable the income, the stronger the application.

Paris

Housing is not a formality

Relocation is not possible without a confirmed place to live. A hotel booking or short-term accommodation is usually not enough.

Applicants are expected to show that they:

  • have secured long-term rental housing;
  • own property in France;
  • or will legally reside with a host who can provide accommodation.

This is one of the most closely examined aspects of the application — and one of the most common reasons for refusal.

Healthcare: private coverage first

At the time of application, retirees must hold private health insurance valid in France and covering essential medical risks. This requirement is non-negotiable.

Access to France’s public healthcare system may become possible after a period of legal residence, but this depends on individual circumstances, length of stay, and administrative status. It is not automatic.

What the process usually looks like

Moving to France is rarely a single step. More often, it unfolds as a sequence:

  • applying for a long-stay visa in the country of residence;
  • entering France;
  • completing administrative registration;
  • residing legally for the duration of the visa;
  • applying for renewal.

The initial status is typically granted for up to one year. Continued residence depends on meeting the same conditions.

Restrictions people often overlook

Living in France under a visitor visa comes with clear limitations:

  • working in France is prohibited;
  • income from French sources is not allowed;
  • social benefits are not part of this status.

These are not temporary inconveniences, but core conditions of residence.

Looking further ahead

Long-term legal residence can, over time, open the door to a more permanent status, such as long-term residency. In theory, citizenship may also be possible, though it requires meeting additional criteria, including language proficiency and integration.

For many retirees, however, the goal is simpler: to live quietly and legally, without having to change status every few months.

Moving to France after retirement is not about a special programme or age-based privilege. It is a question of preparation, financial resources, and understanding the rules. For those with stable income and no intention to work, France offers a lawful and relatively predictable way to settle long-term.

No promises of shortcuts — but no closed doors either.

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Trump Slams Partial Travel Ban on Nigeria, Others Over Security Concerns

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By Adedapo Adesanya

The United States President Donald Trump has imposed a partial travel restriction on Nigeria, as part of a series of new actions, citing security concerns.

The latest travel restriction will affect new Nigerians hoping to travel to the US, as it cites security concerns and difficulties in vetting nationals.

The travel restrictions also affect citizens of other African as well as Black-majority Caribbean nations.

This development comes months after the American President threatened to invade the country over perceived persecution against Christians.

President Trump had already fully banned the entry of Somalis as well as citizens of Afghanistan, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Myanmar, Sudan, and Yemen.

The countries newly subject to partial restrictions, besides Nigeria, are Angola, Antigua and Barbuda, Benin, Dominica, Gabon, The Gambia, Ivory Coast, Malawi, Mauritania, Senegal, Tanzania, Tonga, Zambia and Zimbabwe.

Angola, Senegal and Zambia have all been prominent US partners in Africa, with former president Joe Biden hailing the three for their commitment to democracy.

In the proclamation, the White House alleged high crime rates from some countries on the blacklist and problems with routine record-keeping for passports.

The White House acknowledged “significant progress” by one initially targeted country, Turkmenistan.

The Central Asian country’s nations will once again be able to secure US visas, but only as non-immigrants.

The US president, who has long campaigned to restrict immigration and has spoken in increasingly strident terms, moved to ban foreigners who “intend to threaten” Americans, the White House said.

He also wants to prevent foreigners in the United States who would “undermine or destabilize its culture, government, institutions or founding principles,” a White House proclamation said.

Other countries newly subjected to the full travel ban came from some of Africa’s poorest countries — Burkina Faso, Mali, Niger, Sierra Leone and South Sudan — as well as Laos in southeast Asia.

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