The tech-savvy hospitality firm has experimented with mobile over the past couple of years to provide customers with simplified room service and so on, but the VR initiative saw headsets delivered to rooms to digitally provide guests with access to pastures new. During an interview with Real Business, Karen Olivares, Marriott’s senior director of brand marketing, said: “VR is here to stay. We don’t know what it will look like at the end, but it’s definitely here and I think it’s going to keep reshaping and reinventing itself until it finds a place to settle. “As far as VR, I feel it’s available to everybody. That’s why it was so important to have the first mover advantage.” Seemingly that type of innovative thinking can be demonstrated among the M&A department, with Marriott bidding $12.2bn – $11.9bn stock and $340m cash – to acquire Starwood, which has a portfolio including luxury hotel brands such as W and Sheraton. J.W. Marriott, Jr, executive chairman of the Marriott board, said: “We have competed with Starwood for decades and we have also admired them. I’m excited we will add great new hotels to our system and for the incredible opportunities for Starwood and Marriott associates.” The takeover has forged the world’s largest hotel company, spanning 5,500 hotels globally and 1.1m rooms, while combined pro forma revenue for the year ended 30 September hit $2.7bn.
Marriott plans to accelerate the growth of Starwood brands by leveraging its own global development and franchisee relationship strategies. Drawing upon the corporate creativity once more, the teams will be blended together to “combine innovative ideas”. Currently, the respective loyalty schemes of Marriott and Starwood boast 54m and 21m members and drive repeat business for the firms – a trend expected to grow further still through the merger. Arne Sorenson, president and CEO of Marriott International, said: “The driving force behind this transaction is growth. This is an opportunity to create value by combining the distribution and strengths of Marriott and Starwood, enhancing our competitiveness in a quickly evolving marketplace. “This greater scale should offer a wider choice of brands to consumers, improve economics to owners and franchisees, increase unit growth and enhance long-term value to shareholders. Today is the start of an incredible journey for our two companies. “We expect to benefit from the best talent from both companies as we position ourselves for the future. I know we’ll do great things together.” The merger will increase the number of Marriott board directors from 11 to 14, as new additions from Starwood join. The deal is set to close in mid 2016. By Zen Terrelonge
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
