trending Market Intelligence /marketintelligence/en/news-insights/trending/srD2-9mL0GkxEi2DVRXGxA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Marriott's Sorenson: 'We have zero buyer's remorse'

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Marriott's Sorenson: 'We have zero buyer's remorse'

Therewas a palpable sense of relief in MarriottInternational Inc. President and CEO Arne Sorenson'svoice in opening remarks on an April 1 conference call held hours after theAnbang Insurance Group Co.-ledconsortium backed outof its bid for Starwood Hotels& Resorts Worldwide Inc.

"We'reabsolutely thrilled to be here," Sorenson said. "We have zero buyer'sremorse."

Sorenson walked call participants through the events of thelast few months, since Marriott made its initial play for Starwood, and touchedon the M&A fireworks of the last couple of weeks, as Anbang's higher offersemerged. Sorenson said Marriott is "thrilled and enthused" by theMarriott-Starwood that is, at present, the only binding deal on the table. He called theprospective combination "extraordinarily powerful" and held up themerging of the companies' respective loyalty programs as perhaps the mostprofound prospective strategic advantage.

"We think we've got the real possibility of saying tofolks, 'You actually don't need to belong to any other hotel loyalty program.Because we have the ability to satisfy you no matter what purpose of thetravel, no matter the place that you're going.'"

Thecompanies are aiming for a mid-2016 close, Sorenson said. Most closingconditions have been satisfied, but the companies are still waiting forapproval from the European Union and from China on anti-competition grounds andfor the spinoff of Starwood's timeshare business.

StarwoodCEO Tom Mangas' prepared remarks were relatively brief.

"First,I want to say how excited we are for this combination. All the benefits thatArne just enumerated we absolutely believe in," Mangas said, affirmingSorenson's calculation of $250 million in synergies. The Marriott offer is theonly deal on the table, he said.

"I want let you know that having been part of thisprocess for a full year, having met with many of my competitors who were partof this process, with Arne, we have … confidence in the Marriott team's abilityto drive successful combination and integration."

Both Sorenson and Mangas encouraged shareholders on the callthe vote in favor of the prospective transaction.