Marriott and Starwood Say Their Deal Is Taking Longer Than They Hoped
Photo Caption: Rumors that Marriott wants out of its $12.2 billion acquisition of Starwood don't seem to be adding up.
Skift Take
Recent reports alleging that Marriott has "buyer's remorse" about the deal, while scintillating, don't seem very logical when you think of all the effort both Marriott and Starwood have put into making this deal a reality.
While it seems like we're in double-overtime when it comes to the completion of Marriott International's $12.2-billion acquisition of Starwood Hotels & Resorts, both companies insist that (1) this deal is still going to happen and (2) it's just taking a bit longer than they would have originally hoped.
On Aug. 19, an article in the New York Post cited an unnamed source as saying Marriott had "remorse" over the deal, which would create the world's largest hotel company. It also reported that Marriott is concerned that Starwood isn't selling its real estate assets quickly enough and the integration of both companies' loyalty programs would be difficult to pull off.
Skift reached out to both Marriott and Starwood for comment, and neither company would address the claims made in the Post's article.
However, an internal note from Starwood CEO Thomas B. Mangas, obtained by Skift, makes it clear that he does not believe the deal is in any danger of being terminated.
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