Skift Take
That didn't take too long now, did it? In all seriousness, however, this mega-merger was certainly a long one in the making, filled with plenty of twists and turns. Now, we hope, comes the even more interesting part in the next chapter of the story.
Marriott International can finally breathe a collective sigh of relief, having officially purchased its former rival, Starwood Hotels & Resorts, for roughly $13 billion, nearly a year after the deal was first announced last November.
According to the terms of the deal, Starwood's shareholders receive $21 and 0.8 shares of Marriott for each share of Starwood stock. With Marriott's stock closing on Sept. 22 at $69.75 per share, that amounts to $76.80 per share of Starwood.
The CEO of Marriott, the former CEO of Starwood, and More Are Speaking at Skift Global Forum 2016. Join Us.
And to mark the creation of the world's largest hotel operator, with 30 brands and more than 1.1 million rooms in more than 5,700 hotels in 110 countries worldwide, Marriott has announced some big news related to its loyalty program.
Beginning today, members of both Marriott Rewards and Starwood Preferred Guest (SPG) can now link their accounts, something not often announced when travel companies of this size come together. The linking of the two programs includes immediate status matching and point transfers and redemptions whereby three Marriott Rewards points are equivalent to one Starpoint.
It's not quite a complete integration: Both programs are still, technically, two different programs (three if you include The Ritz-Carlton Rewards, which is part of Marriott Rewards), and the programs most likely won't be fully combined until 2018.
To earn points with Marriott, you still need a Marriott Rewards account, and vice versa for Starwood and SPG. But now that the programs can all be linked to one another, the added benefits of being members of both programs have increased dramatically.
Members of SPG and Marriott Rewards can now transfer and redeem their points for travel and other exclusive member experiences like access to private concerts, special sports events, and culinary excursions.
For example, Marriott Rewards members can now redeem points for stays in the Maldives, Santorini, and Bora Bora, while SPG members can do the same in Aruba and Kruger National Park in South Africa.
Other perks include access to discounted member rates for hotel stays, although Marriott Rewards Members Rates are only available on Marriott booking channels and SPG Member Rates are only available on SPG booking channels. Booking direct with either Marriott or SPG will also come with free Wi-Fi for members, too.
The complete integration of the loyalty pro
