Marriott Posts Strong Global Growth While Gearing Up for Starwood Integration
Skift Take
Marriott may have won Starwood in the bidding war of the year (thus far), but it's clear there's a lot of work that lies ahead for the company as it prepares to close its big deal by mid-year.
After a first quarter involving one of the most bizarre and unexpected bidding wars of the year, Marriott International emerged victorious, having kept Starwood from the likes of Anbang and seeing an increase in its revenues, room rates, and occupancy rates.
It's clear that a lot of work lies ahead for the company, especially as it closes the Starwood deal and executes the integration process that follows, according to comments made by Marriott CEO Arne Sorenson and Marriott CFO and EVP Leeny Oberg during the hotel giant's first quarter earnings call.
The call was also an opportunity for Marriott to discuss larger themes impacting the travel and hospitality industry.
Here are five highlights from the call:
About the Starwood Deal
Sorenson and Oberg couldn't reveal too many details with regard to Marriott's estimated $12.4 billion acquisition of Starwood, which was approved by both sets of shareholders on April 8. Sorenson said the deal is expected to close by
