Does Starwood Hotels still exist?
Starwood had 11 brands and owned, managed, or franchised 1,297 properties comprising 370,000 hotel rooms in approximately 100 countries….Starwood.
| Type | Subsidiary |
|---|---|
| Industry | Hospitality |
| Founded | 1969, reorganized in 1995 |
| Defunct | September 23, 2016 |
| Fate | Acquired by Marriott International |
What chain is Wyndham part of?
Brands adding the “by Wyndham” hallmark are Super 8, Days Inn, Howard Johnson, Travelodge, AmericInn, Baymont, Ramada, Ramada Encore, Dolce, Dazzler, Esplendor, and Trademark – representing 7,074 properties across the globe.
Did Wyndham buy RCI?
RCI, the world’s largest vacation exchange network as part of Wyndham Destinations (NYSE:WYND), announced today it has acquired travel technology platform Alliance Reservations Network (Alliance) for $92 million.
Why did Marriott acquire Starwood Hotels?
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 corporate cost synergies.
What happened to Starwood stock on NYSE?
Before market open today, 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.
Who are the financial advisors to Starwood and Marriott?
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.
Who are the lawyers for Starwood Hotels&Resorts Worldwide?
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. Marriott International will hold a call with news media at 9:00 A.M. EDT on Friday, September 23 to discuss the closing of the company’s merger.