Skift Take
Hotel by hotel, Marriott is transforming the Starwood legacy business into something more reflective of its own hospitality management style, meaning going asset light all the way.
Marriott International, the world's largest hotel company with 30 brands and almost 6,000 hotels around the globe, is known throughout the hospitality and travel industry for pursuing a purely "asset-light" management model.
Today, Marriott announced its latest move meant to complement its existing financial strategy and to help the company get that much closer to achieving some $250 million in annual cost "synergies," or savings, associated with its $13.3 billion acquisition of Starwood Hotels & Resorts, which was finalized in September.
Marriott completed the sale of its long-term leasehold interest in The Westin Maui Resort & Spa, Kaanapali for $317 million, selling the 759-beachfront resort to Trinity Investments and Oaktree Capital Management. Both Trinity and Oaktree intend to invest in capital improvements that include a renovation of the hotel's Beach To
