Starwood Hotels & Resorts’ new CEO has moved to reassure the company’s hotel owners over fears for the business once Marriott International completes its takeover.
In a communication to hotel owners last week, Thomas Mangas gave no guarantees but said he believes ‘most, if not all’ Starwood brands will remain within the combined businesses.
Mangas said he expects Marriott to quickly lay out plans for the future as a single entity with integration of Starwood’s existing workforce a priority.
"Marriott has made clear that their top priority as we integrate our companies is talent and their number one focus is people," Mangas said.
"They understand that there is anxiety in both organizations and among stakeholders like you. They plan to move quickly to make decisions and resolve uncertainty. They also recognize that they will need Starwood talent to facilitate new capabilities, fill new positions and to respond to the volume, scale and complexity that comes from creating a much larger business."
Marriott’s $12.2 billion acquisition of Starwood is expected to be finalized by the middle of this year.
