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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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Travel/Tourism

FAAN Mulls New October Deadline for Airport Taxi Upgrade Policy

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Airport Taxi Upgrade

By Adedapo Adesanya

The Federal Airports Authority of Nigeria (FAAN) is considering extending the deadline for its airport taxi upgrade policy to October, following concerns raised by the Nigeria Union of Private Cab Operators.

The development was disclosed on Monday in Lagos by Mr Henry Agbebire, Director of Public Affairs and Consumer Protection at FAAN, saying that the possible extension followed complaints and concerns from airport cab operators, even as the authority maintained that the policy was designed to improve service standards across Nigerian airports.

“The policy aligns with international best practices and seeks to elevate service quality,” Mr Agbebire said.

He added that passengers deserved “clean, safe, comfortable and professionally maintained vehicles” within airport transport systems.

The FAAN spokesman dismissed claims that the authority had failed to engage operators on the policy, insisting that consultations had been ongoing.

He said FAAN maintained regular discussions with licensed transport providers operating within airport premises, stressing that engagement was conducted directly with corporate entities rather than unions or associations.

“Engagements on operational matters are conducted directly with affected corporate entities,” he said.

Mr Agbebire explained that discussions on the upgrade requirement began in July 2024, giving operators time to comply.

He noted that the original compliance deadline had already been extended twice—from January 2026 to June 2026—citing economic realities and the need to give operators adequate preparation time.

According to him, the policy was not intended to punish operators or restrict their participation in airport transport services.

“Operators have been afforded ample opportunity to prepare for compliance,” he stated.

However, he warned that further extensions beyond the proposed October deadline may not be granted.

Mr Agbebire acknowledged the role of airport cab operators in passenger movement, urging them to support the initiative aimed at improving service delivery.

He added that FAAN remains committed to passenger-focused reforms across Nigeria’s aviation sector.

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EFCC to Arraign Enugu Visa Consultant for Alleged N68m Fraud

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Chukwujindu Nchekwube Goodben Global Travels

By Aduragbemi Omiyale

A travel agent and visa consultant identified as Mrs Chukwujindu Goodness Nchekwube is currently being investigated by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding about 24 persons.

The suspect, who runs Goodben Global Travels and Tour Limited, was arrested by the agency alongside one Mr Rogers Oluwaseyi Eruku, also known as Bakary Rogers Yanni.

The EFCC said the suspects would be brought before the court as soon as it concludes its investigations regarding bordering on duping the victims of about N68 million under the pretence of assisting them to process work visas.

A petitioner, Mr James Ikechukwu, alleged that the travel agent approached him and introduced herself as a visa consultant capable of assisting people to procure work visas to their desired countries, through Goodben Global Travels and Tour Limited.

He further alleged that between September, 2024 and December, 2025, he contracted Nchekwube’s company (Goodben Global Travels and Tour Limited) to process work visas to various countries for 20 (Twenty) of his clients and the sum of N57.6 million was transferred to her company’s accounts for processing the visas, with a promise to deliver them at a stipulated period of time.

“However, after receiving the money, Mrs Nchekwube blatantly refused to deliver the visas to my clients as agreed, rather, she converted the money to her personal use.

“After much persistence for her to deliver the work visas, she delivered some visas to some of my clients, but to our greatest surprise, it was discovered that the visas/offer letters were forged to make my clients believe that they were genuine”, the petitioner alleged.

In the course of the investigation, the suspect claimed that she gave the said money to Eruku, who had presented himself to her as a reliable person capable of procuring visas for people to any part of the world.  She claimed that the said fake visa/offer letters were procured by Eruku.

In a curious twist, another petitioner, Oranezi David Chinedu, alleged that Eruku, sometime in May 2024, offered to procure work visas for him and three of his friends to Ireland and some other countries.

He claimed that the total money fraudulently collected by Eruku for the visas was N10.4 million, only for him to hand over forged documents to them.

“I was highly disappointed at the [alleged] criminal act by Bakary Rogers Yanni to have collected money for visa processing purposes only to issue me and my friends fake documents,” he said.

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Air Tanzania to Commence Direct Flights to Moscow July 2

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By Kestér Kenn Klomegâh

To significantly boost economic diplomacy, trade, and tourism between Tanzania and Russia, Air Tanzania will commence direct flights from Dar es Salaam and Zanzibar to Moscow, the capital of Russia, from July 2, 2026.

Early June, the President of Tanzania, Ms Samia Suluhu Hassan, and her delegation were in Moscow and St Petersburg’s SPIEF-2026, at the invitation of Russian leader Vladimir Putin. One of the dominant topics discussed by the two parties was tourism. This was a follow-up to earlier visits by Russian delegations to Tanzania on the matter.

The sides noted that the country is well-positioned to become a more attractive destination for Russian tourists. The Russian party also offered help in promoting Tanzanian tourist products on the Russian market, organising business meetings with Russian travel agents and presenting the tourist potential at Russia’s tourist forums.

The Russian Federal Air Transport Agency, Rosaviatsiya, sent an authorisation to Air Tanzania for making flights over the route of Dar es Salaam – Moscow. “Rosaviatsiya received an application from the Tanzanian national air carrier, Air Tanzania, to make flights on the route of Dar es Salaam – Moscow. The issue was promptly considered, and the authorisation for flights was already sent to the airline. Air Tanzania did not make flights to Russia before,” Russian Transport Minister Andrey Nikitin told Russian reporters.

Tanzania has been a popular tourist destination for Russian tourists for years, particularly Zanzibar. “Unfortunately, during the pandemic, the number fell sharply, and now we are trying to increase it again. But to increase the number of tourists, we need several factors to be in place. The most important thing to do to bring back the number of tourists to a high level is to establish direct flights from Russia to Tanzania,” Russian Ambassador to Tanzania, Andrey Avetisyan, explained in an interview with The Citizen newspaper.

The key operational and news details include:

Launch Date: Direct flights officially begin on July 2, 2026, marking a massive milestone for African-Eurasian travel.

Frequency: Air Tanzania will operate three weekly flights between Tanzania and Moscow (departing on Mondays, Wednesdays, and Fridays). The journey time will be 8 hours and 30 minutes.

The Route: From Moscow, the flights will operate from Vnukovo airport. Using the Boeing 787 Dreamliner aircraft, planes will fly between Dar es Salaam, Zanzibar, and Moscow, with initial discussions highlighting a strategic stop in the Seychelles for refuelling.

Tanzania has hit a record in terms of the number of foreign tourists. By facilitating this travel arrangement, Russia and Tanzania have taken a significant step forward in establishing connectivity with the Island, well-known for recreation. Welcomed by East African entrepreneurs, this policy initiative indicates broader efforts to promote a more interconnected and open Africa.

In 2024, the country accepted more than 1.5 million guests on its territory. According to tourism experts, the new development will likely go beyond the traditional recreation, to create grounds for expansion and diversification of its various types of tourism, including medical, sports and business tourism.

Zanzibar, off Tanzania’s coast, is one of East Africa’s most popular tourist destinations and attracts visitors from Europe and North America. In addition, Zanzibar is now attracting Russian tourists. “We look forward to the emerging tourism dynamics, future collaboration between the two countries,” says Tour Operator Karina Yefimova at the “Let’s Travel” forum in June 2026.

With an estimated population of 1.9 million people, Zanzibar is a Tanzanian archipelago off the coast of East Africa. It is located in the Indian Ocean, and consists of many small islands and two large ones: Unguja (the main island, referred to informally as Zanzibar) and Pemba Island.

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