ʻO BETHESDA, MD a me STAMFORD, CT - Marriott International, Inc a me Starwood Hotels & Resorts Worldwide, Inc i hoʻolaha i kēia lā ua hoʻopaʻa inoa nā hui i kahi hoʻololi i kā lākou ʻaelike hui pū ʻana e hana ana i ka hui hōkele nui loa o ka honua.
Ma lalo o nā ʻōlelo o ka ʻaelike hoʻohui i hoʻololi ʻia, e loaʻa i nā mea kuleana ʻo Starwood he $21.00 i ke kālā a me 0.80 mau ʻāpana o Marriott International, Inc. Class A kumu kūʻai maʻamau no kēlā me kēia mahele o Starwood Hotels & Resorts Worldwide, Inc. Ma waho aʻe o kāna ʻoihana timeshare, ʻoi aku ka waiwai o Starwood ma kahi o $13.6 biliona ($79.53 no kēlā me kēia pāhele), nona ka $10.0 biliona o Marriott International stock, e pili ana i ke kumukūʻai pani o $73.16 ma Malaki 18, 2016, a me $3.6 biliona kālā, e pili ana i kahi kokoke. 170 miliona mau ʻāpana Starwood. E loaʻa i nā mea kuleana ʻo Starwood ma kahi o 34 pakeneka o ka waihona maʻamau o ka ʻoihana hui ma hope o ka pau ʻana o ka hui ʻana, e pili ana i nā ʻāpana o kēia manawa.
Eia hou, ua manaʻo ʻia e loaʻa i nā mea kūʻai ʻo Starwood ka noʻonoʻo ʻokoʻa ma ke ʻano o Interval Leisure Group kumulāʻau maʻamau mai ka spin-off o ka ʻoihana timeshare Starwood a me ka hui pū ʻana me ILG, i kēia manawa he $5.83 no ka ʻāpana Starwood, e pili ana i ke kumu kūʻai o ILG e like me. ʻO ka pani ʻana o ka mākeke ma Malaki 18, 2016. Ke manaʻo mau nei nā hui ʻelua i ka pani ʻana o kēia hana ma mua o ka lā i hoʻolālā ʻia o ka hui ʻana o Marriott-Starwood. ʻO ka ʻaelike i hoʻololi ʻia a me ka ʻoihana ILG i hui pū ʻia i kēia manawa he $85.36 no kēlā me kēia mahele o ka waiwai maʻamau o Starwood.
Ma muli o ka hoʻoikaika nui ʻana a me ka hoʻolālā hoʻohui pū ʻana, manaʻoʻiʻo ʻo Marriott hiki iā ia ke hoʻokō i $250 miliona i nā synergies kumu kūʻai makahiki i loko o ʻelua mau makahiki ma hope o ka pani ʻana, mai ka $200 miliona i manaʻo ʻia i Nowemapa 2015 i ka wā e hoʻolaha ai i ka ʻaelike hui mua.
Hāʻawi kēia ʻaelike i hoʻoponopono hou ʻia i ka waiwai nui no ka poʻe kuleana o Starwood, ka hiki ke pani koke, a hāʻawi i ka mana hana waiwai e hiki ai i nā pūʻulu ʻelua ke pōmaikaʻi mai ka hoʻomaikaʻi ʻana i ka hana kālā. Ua loaʻa iā Marriott lāua ʻo Starwood nā ʻae kānāwai koʻikoʻi e pono ai e hoʻopau i ke kālepa, me ka hoʻomaʻemaʻe ʻana i nā loiloi antitrust pre-merger ma United States a me Kanada.
Ua ʻōlelo ʻo Arne Sorenson, Pelekikena a me Luna Nui o Marriott International: "Ma hope o ʻelima mau mahina o ka hoʻoikaika nui ʻana a me ka hoʻolālā hoʻohui pū ʻana me Starwood, me ka nānā pono ʻana i ka hoʻolālā ʻana o ka brand a me nā manaʻo hoʻomohala e hiki mai ana, ʻoi aku ka hauʻoli o ka mana. o nā hui hui a me nā manawa ulu ulu. ʻOi aku ka hilinaʻi o ka hoʻokō ʻana i kā mākou pahuhopu hou o $250 miliona o nā synergies kumu kūʻai. Me ka ʻāpana kālā kiʻekiʻe ma ke kumukūʻai kūʻai, ua hoʻomaikaʻi pū mākou i ke ʻano kālā o ke kālepa.
"Ke manaʻo nei mākou e hoʻolalelale i ka ulu ʻana o nā hōʻailona Starwood, e hoʻohana ana i ka hui hoʻomohala hōkele o Marriott a me ka pilina o ka mea nona a me ka franchisee. Ma ka laina kiʻekiʻe, ʻo ka hoʻohui ʻana i ka ʻike kūʻai aku a me ka hoʻonui ʻia ʻana o ka moʻokāki e pono e hoʻoikaika i ka pono o ka mea kūʻai aku a hoʻonui i ka loaʻa kālā. Pono ka mālama ʻana i ke kumukūʻai o ka hōkele i nā mea nona a me nā franchisees, me ka ʻoi aku ka maikaʻi o ka hoʻopaʻa ʻana, ke kūʻai ʻana a me nā lawelawe like. E loaʻa ana i ka hui kahi kapuaʻi honua ākea ākea a me nā polokalamu huakaʻi hele pinepine ikaika loa i ka ʻoihana, e hoʻoikaika ana i ka hiki o Marriott e lawelawe i nā malihini ma nā wahi a lākou e hele ai.
"Ke hui pū nei mākou i ʻelua o nā pūʻulu akamai a ʻike i ka ʻoihana. E hui pū lākou i kā lākou mau manaʻo hou a me ka hoʻokō lawelawe e hāʻawi i nā ʻike malihini poina ʻole. "
Ua ʻōlelo ʻo Bruce Duncan, ka Luna Hoʻokele o ka Papa Hoʻokele o Starwood Hotels & Resorts Worldwide, "Ua hauʻoli mākou i ka ʻike ʻana o Marriott i ka waiwai a Starwood e lawe mai ai i kēia hui ʻana a hoʻonui i ka noʻonoʻo e uku ʻia i nā mea kuleana ʻo Starwood. Ke hoʻomau nei mākou i ka hauʻoli e pili ana i ka hui ʻana o Starwood a me Marriott, ka mea e hoʻokumu i ka hui hōkele nui loa o ka honua me kahi kahua hoʻohālikelike ʻole no ka ulu honua i ka ʻāpana kiʻekiʻe. Ua hauʻoli nō hoʻi mākou i ka holomua o nā hui ʻelua i ka pani ʻana.
"I loko o kēia kaʻina hana, ua hoʻomau kā mākou Papa Hoʻokele i ka hoʻonui ʻana i ka waiwai no nā mea kuleana ʻo Starwood, a ʻo ka hāʻawi hou ʻana a Marriott e hāʻawi i ka waiwai kiʻekiʻe loa i kā mākou poʻe kuleana ma o ka hiki ʻana o ka manawa lōʻihi mai nā synergies like a me ka kuleana i kekahi o ka honua i mahalo nui ʻia. ʻoihana, a me ka noʻonoʻo kālā mua.
"Me kāna kumu hoʻohālike ʻoihana māmā waiwai, ka ulu ʻana o nā ʻoihana makahiki he nui, nā mana ikaika, a me ka hoʻihoʻi mau ʻana o ke kālā kālā i nā mea kuleana, ua kūʻai mau ʻo Marriott stock i nā uku kumukūʻai i kāna mau hoa lehulehu."
Manaʻo ʻo Marriott e kū ʻole ke kūʻai aku i ka loaʻa kālā i hoʻololi ʻia i kēlā me kēia mahele ma 2017 a me 2018.
Ke kūpaʻa nei ʻo Marriott i ka mālama ʻana i ka helu hōʻaiʻē ma hope o ka hui ʻana. ʻOiai ke manaʻo nei ʻo Marriott e ʻoi aku ka kiʻekiʻe o kāna leverage ma mua o nā pae i hoʻopaʻa ʻia i ka wā e pani ai ke kālepa, manaʻo ʻo ia e hiki i ka leverage i manaʻo ʻia o 3.0x a 3.25x i hoʻoponopono ʻia i ka EBITDAR i ka hopena o ka makahiki 2016.
Manaʻo ʻia nā kumukūʻai kūʻai hoʻokahi manawa no ka hui ʻana ma kahi o $100 miliona a $130 miliona. Manaʻo ʻia nā kumukūʻai hoʻololi i nā makahiki ʻelua e hiki mai ana.
Aia ke kālepa ma lalo o ka ʻae ʻana o ka mea kūʻai kālā o Marriott International a me Starwood Hotels & Resorts Worldwide, ka hoʻopau ʻana i ka hoʻolālā ʻana o Starwood i kāna ʻoihana timeshare, loaʻa i nā ʻae hoʻoponopono i koe a me ka ʻoluʻolu o nā kūlana pani maʻamau. Ua ʻae ʻo Marriott lāua ʻo Starwood e hoʻolalelale i ka hui o nā mea kūʻai kālā no ka noʻonoʻo ʻana i nā hana i manaʻo ʻia e ka ʻaelike hui i hoʻololi ʻia ma Malaki 28, 2016 a e hoʻopaneʻe koke i kēlā hālāwai a hiki i ka lā 8 ʻApelila, 2016. Ke manaʻo nei ua loaʻa nā ʻae kūpono, e hoʻomau nā ʻaoʻao. manaʻo e pani ʻia ke kālepa ma waena o 2016. Ua hoʻonui ʻia ka uku haʻihaʻi e uku ʻia e Starwood ma kekahi mau kūlana i $450 miliona mai $400 miliona. Ma nā kūlana e uku ʻia ai ka uku hoʻopau, koi ʻia ʻo Starwood e uku hou iā Marriott a hiki i $18 miliona o nā koina maoli i loaʻa e Marriott e pili ana i ke kālā o ke kālepa.
E like me ka mea i hoʻolaha ʻia ma Malaki 18, 2016, ua hoʻoholo mua ka Papa ʻo Starwood e loaʻa i ka manaʻo paʻa a hoʻopaʻa kālā piha ʻia mai kahi consortium ʻo Anbang Insurance Group Co., Ltd., JC Flowers & Co. a me Primavera Capital Limited e loaʻa i nā ʻāpana kūʻokoʻa a pau. ʻO ke kumukūʻai maʻamau o Starwood no $78.00 no kēlā me kēia mahele i ke kālā i lilo i "Superior Proposal," e like me ka wehewehe ʻana ma ka ʻaelike hui. ʻO ka manaʻo o ka Consortium, me ke kālepa ILG, he $83.83 ka waiwai o kēia manawa no ka māhele Starwood. E pili ana i ka ʻaelike hoʻohui i hoʻololi ʻia, ua hoʻoholo ka Papa Hoʻokele o Starwood ʻaʻole i lilo ka manaʻo o ka Consortium i "Superior Proposal", a no laila ma lalo o ka ʻaelike hui ʻaʻole ʻae ʻia ʻo Starwood e komo i nā kūkākūkā a kūkākūkā ʻana me, a hāʻawi i ka ʻike huna. i, ka Consortium. Paipai lokahi ka Papa o Starwood i ka ʻaelike hui i hoʻololi ʻia me Marriott i nā mea kūʻai waiwai o Starwood.
He aha e lawe ʻia mai kēia ʻatikala:
- “After five months of extensive due diligence and joint integration planning with Starwood, including a careful analysis of the brand architecture and future development prospects, we are even more excited about the power of the combined companies and the upside growth opportunities.
- In addition, Starwood stockholders are expected to receive separate consideration in the form of Interval Leisure Group common stock from the spin-off of the Starwood timeshare business and subsequent merger with ILG, currently valued at $5.
- "I loko o kēia kaʻina hana, ua hoʻomau kā mākou Papa Hoʻokele i ka hoʻonui ʻana i ka waiwai no nā mea kuleana ʻo Starwood, a ʻo ka hāʻawi hou ʻana a Marriott e hāʻawi i ka waiwai kiʻekiʻe loa i kā mākou poʻe kuleana ma o ka hiki ʻana o ka manawa lōʻihi mai nā synergies like a me ka kuleana i kekahi o ka honua i mahalo nui ʻia. ʻoihana, a me ka noʻonoʻo kālā mua.
