starwood
Marriott International Resolves State Attorneys General and Federal Trade Commission Investigations into 2018 Starwood Database Security Incident
MARRIOTT INTERNATIONAL, INC. | October 10, 2024
Marriott International, Inc. (NASDAQ: MAR, “Marriott”) has reached final resolutions with the Federal Trade Commission (FTC) and 49 U.S. State Attorneys General and the District of Columbia in relation to the 2018 Starwood Hotels and Resorts Worldwide guest reservations database security incident. The resolution with the State Attorneys General includes an agreement to pay $52 million. As indicated in the agreements with the FTC and the State Attorneys General, Marriott makes no admission of liability with respect to the underlying allegations. As part of the resolutions with the FTC and the State Attorneys General, Marriott will cont...
Marriott Provides Update on Starwood Database Security Incident
Marriott | January 4, 2019
Marriott today is providing an update on the number of guests whose passport numbers and payment card numbers were involved in the Starwood reservations database security incident announced by the company on November 30, 2018. Working closely with its internal and external forensics and analytics investigation team, Marriott determined that the total number of guest records involved in this incident is less than the initial disclosure. Also, the number of payment cards and passport numbers involved is a relatively small percentage of the overall total records involved. "We want to provide our customers and partners with updates based on...
Marriott Has the Largest Construction Pipeline of Any Franchise Company in the U.S.
Lodging Econometrics | November 8, 2017
November 8, 2017 – PORTSMOUTH, NH Marriott International, due in part to the acquisition of the Starwood brands, currently has the largest construction pipeline of any franchise company with 1,298 Projects/166,419 Rooms. Their largest brands in the Total Pipeline are: Fairfield Inn with 284 Projects/27,411 Rooms, Residence Inn with 189 Projects/23,605 Rooms and TownePlace Suites with 183 Projects/18,590 Rooms. Marriott has the most rooms currently Under Construction with 516 Projects/69,721 Rooms, which represents almost 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Constru...
Starwood Reports Q2 2016 Net Loss of $263 million Compared to Net Income of $146 in the Year Ago Quarter
Starwood | July 26, 2016
STAMFORD, Conn.--Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today reported second quarter 2016 financial results. Second Quarter 2016 Highlights Including special items which total a pre-tax loss of $130 million primarily from asset dispositions, EPS from continuing operations was a loss of $0.20. Excluding special items, EPS from continuing operations was $0.71. Net income of $0.08 per share from Vistana Signature Experiences, Inc. ("Vistana"), the Company's former vacation ownership business, is not included in continuing operations. Adjusted EBITDA was $297 million, which includes operating earnings from the Company...
Marriott’s Bid for Starwood Challenged in Lawsuit by Hotel Owners
May 11, 2016
Owners of hotels in Chicago and New York filed suit Tuesday Plaintiffs say deal would violate exclusivity agreements by Chris Dolmetsch Marriott International Inc.'s acquisition of Starwood Hotels & Resorts Inc. was challenged by the owners of hotels in Chicago and New York who say the merger would violate exclusivity agreements. Cityfront Hotel Associates Limited Partners, the owner of the Sheraton Grand Chicago, and Dream Team Hotel Associates LLC, which owns the Westin Times Square in New York, sued Marriott and Starwood in New York state court Tuesday, arguing the merger would unfairly eat into their business. Sheraton and W...
Starwood Reports Q1 2016 Net Income of $90 million Compared to $99 million in Q1 2015; Adjusted EBITDA was $281 million
Starwood Hotels & Resorts Worldwide, Inc | May 3, 2016
STAMFORD, Conn--Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today reported first quarter 2016 financial results. First Quarter 2016 Highlights Excluding special items, EPS from continuing operations was $0.70. Including special items, EPS from continuing operations was $0.53. Adjusted EBITDA was $281 million. Excluding special items, income from continuing operations was $118 million. Including special items, income from continuing operations was $90 million. Worldwide Systemwide REVPAR for Same-Store Hotels increased 1.0% in constant dollars (decreased 1.3% in actual dollars) compared to 2015. Systemwide REVPAR for Sa...
Marriott Counters – Starwood Accepts
Marriott International, Inc. | March 21, 2016
BETHESDA, Md. and STAMFORD, Conn., March 21, 2016 -- Starwood's Board of Directors determined that revised terms from Marriott constitute a superior proposal compared to previously announced offer by Consortium led by Anbang Insurance Group. Increased cash consideration to $21.00 for each share of Starwood common stock. Revised exchange ratio of 0.80 shares of Marriott common stock for each share of Starwood common stock. Targeted annual G&A synergies increased to $250 million run-rate. Marriott and Starwood special stockholder meetings to be held on April 8, 2016 with transaction closing planned for mid-2016. Marriott ...
Marriott International Responds to Starwood’s Notice of Merger Termination
Marriott International, Inc. | March 18, 2016
Bethesda, MD, March 18, 2016 – Marriott International, Inc. (NASDAQ: MAR) has been informed by Starwood Hotels and Resorts Worldwide (NYSE: HOT), and Starwood has announced publicly, that the Starwood Board of Directors has determined that it considers an Anbang consortium proposal to acquire Starwood to be a "Superior Proposal" to Marriott's existing merger agreement with Starwood. Starwood has further informed Marriott that it intends to terminate the merger agreement with Marriott unless Marriott and Starwood agree on revisions to their merger agreement that Starwood's board of directors determines to be superior to the Anbang ...
