China bids for Starwood.

[drron]

China's Anbang challenges Marriott with a $17b bid for Starwood hotel group

A consortium of investors, led by Anbang, is hoping to derail Starwood's $10.8 billion cash-and-stock tie-up with Marriott International that is set to be considered by shareholders of both hotel operators later this month.
The non-binding bid, unveiled on Monday, just days after Anbang agreed to acquire Strategic Hotels & Resorts from buyout firm Blackstone Group for $US6.5 billion, would represent by far the biggest Chinese investment in US real estate assets.
Chinese insurers are rushing to acquire high-yielding assets as they struggle to keep up with the policy liabilities of the country's aging population. US assets are also seen as a good hedge against any future weakness in the yuan.

Hmmm.

 

[yohy?!]

get that money outta china quick smart!

 

[Isochronous]

The Chinese must be keen to retain their SPG Platinum status!

 

[Loga2015]

I hope this looks like a better outcome to the SPG program than Marriot's bid.

 

[boomy]

Marriott strikes back and takes the lead again.

http://www.wsj.com/articles/starwood-agrees-to-sweetened-merger-with-marriott-1458559079

 

[Isochronous]

Marriott strikes back and takes the lead again.

Starwood Agrees to Sweetened Merger Bid From Marriott - WSJ

Will be interesting to see whether Anbang increases their offer at all.

 

[awkwardpaws]

I cant tell whether Marriott or Anbang will provide a better outcome for SPG members. Been reading some blogs and its not clear - any AFFers with thoughts?

 

[boomy]

I cant tell whether Marriott or Anbang will provide a better outcome for SPG members. Been reading some blogs and its not clear - any AFFers with thoughts?

Question is who will provide worse outcome.
Can't believe anyone will improve the SPG programme. Marriott loyalty is cough and Anbang don't have any so I'd prefer the latter.

 

[awkwardpaws]

Anbang counter-offers: Starwood Gets Higher Offer From Anbang-led Group, Threatening Marriott Deal - WSJ

 

[burmans]

Question is who will provide worse outcome.
Can't believe anyone will improve the SPG programme. Marriott loyalty is cough and Anbang don't have any so I'd prefer the latter.

Anbang have stated they will keep the Starwood Preferred Guest programme so they probably win. I suspect Marriott will now give up.

 

[yohy?!]

I doubt anbang will give up easily - looks like a bid to get their cash out of China into a stable usd denominated asset. Can't see it going well for spg though...

 

[Isochronous]

Anbang have stated they will keep the Starwood Preferred Guest programme so they probably win. I suspect Marriott will now give up.

Music to my ears!

 

[samh004]

Happy to hear!

 

[cmon0005]

I hope SPG stays in its current form, it really is hands down better than MR.

 

[burmans]

Happy to hear!

Of course they wouldn't be the first company to say one thing and then somewhat later do something totally different, but hopefully this will mean things stay as they are at least for a while.

 

[samh004]

Of course they wouldn't be the first company to say one thing and then somewhat later do something totally different, but hopefully this will mean things stay as they are at least for a while.

True, but I hear there's more negative from Marriott than with them, and axing a frequent stayer program only leads to users not staying anymore, surely? Not a great business decision.

 

[burmans]

True, but I hear there's more negative from Marriott than with them, and axing a frequent stayer program only leads to users not staying anymore, surely? Not a great business decision.

Absolutely agree, but a similar comment applies. It would certainly in my opinion not be a great business decision, but history is of course littered by companies who have made bad business decisions!

 

[drron]

Anbang walks away-
China's Anbang abandons $14 billion bid to buy Starwood Hotels | Reuters

I am not too disappointed.Protea hotels in Africa back in play for next year + our Christmas apartment in Bangkok.Both covered by Marriott.

 

[Loga2015]

Well, I will be burning up my SPG points soon....

Given Marriot's horrible footprint here, this will be horrible for us

 

[boomy]

According to the email SPG sent to members the combined program is not expected to launch until 2018 so there is some time left to enjoy all existing benefits.