After turbulent weeks with a multibillion-dollar bidding war the American hotel giant Marriott International is on target. The vows of the shareholders of the wedding with Starwood Hotels to world number one is no more obstacles. Mariott chief Arne Sorenson thanked on Friday for investor confidence and spoke of a “milestone”.
The mega-merger to be completed mid-2016, but it could be one more sign that the industry after several years soon have to make concessions with droning shops. Analysts see several risks for the hotel industry, including the rapid growth of a rival who, despite his status as an underdog has the most beds on offer. Airbnb
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with a combined market capitalization of about 30 billion dollars (26.2 billion euros), more than 5,500 hotels and more than one million beds were Marriott and Starwood their closest competitors Hilton significantly behind. Together, they bring the company on 30 hotel brands.
Almost three weeks bidding war
Marriott, based in Bethesda in the US Federal State Maryland made about 14 billion in revenue last year and brings several chains like Ritz-Carlton, Renaissance or Courtyard in the Fusion a. Starwood from Stamford, Connecticut, controls among other Le Meridien, Westin or Sheraton in.
Until recently, however, Marriott had to actually back in November needled Starwood acquisition anxious. In mid-March sparked an investor group led by the Chinese insurer Anbang with a higher bid between. Nearly three weeks, the parties have provided a bidding war.
Before Anbang and his partner their efforts early April tasks proper grounds surprisingly and without notice, had its public offer at some 14 billion dollars, well above the located by Marriott. Starwood CEO Thomas Mangas spoke of a “wild ride” that went through his company.
annual sales of $ 864 billion
Anbang had in 2014 although already the famous Hilton showpiece Waldorf- Astoria bought at the famous Park Avenue for $ 1.95 billion. but experts doubted nevertheless whether the Chinese would not be overwhelmed with the management of a large hotel group. According to
The “Financial Times” had Anbang and Co. their paramours ad ultimately because they could prove insufficient financing security , This Marriott has again ahead, which has 21 dollars in cash and 0.8 of its own shares per Starwood share certificate and thus want to lie about 13.3 billion dollars.
Marriott expects from the first year after the merger be able to save at least 200 million dollars in annual costs. Analyst Stuart Gordon of Berenberg Bank believes that this goal should be easy exceeded. But what is the outlook for the industry as a whole?
According to the market research firm IBISWorld, sales of the worldwide hotel industry since 2011 with annual growth rates of an average of 4.3 percent and is expected in 2016 annual sales of 864 reach billions of dollars. This is measured by the development of the world economy a good value, but far away from turbocharged growth.
“Airbnb could be a real threat”
Although the market researchers assume that the upward trend in the next five years will continue. Analysts at investment bank Jamie Rollo, however, are more skeptical. The occupancy rates were achieved in most regions record levels and are partly already in decline, they write in a study.
In addition, the boom in mergers and acquisitions am suggesting that the industry was approaching its zenith. Moreover, rising geopolitical risks could deter tourists. This problem is aggravated, that the offer is growing. The main culprits for the experts quickly identified: “Airbnb could be a real threat.”
The private rooms mediator is officially still a start-up, makes the hotel but to create. The investor with approximately $ 25.5 billion rated entity lists claims to more than two million rooms and apartments around the world, making it something of a secret world leader in the sector.
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