With Marriott massively increasing its offer to purchase Starwood, they’ve shared news of the deal with their employees.
This is what Marriott is saying about the revised offer to buy Starwood. They explain the price, that the Chinese insurer could still counter, and that the deal contains a $450 million breakup fee.
Yesterday I wrote that American planned to eliminate 24 hour reservation holds in favor of 24 hour free cancellation.
I reached out to American for comment, and for clarification of how such a policy would work for bookings made within 7 days of travel (US airlines aren’t required to offer refunds within 7 days, but other airlines do it) and whether it would be a true 24 hour refund (as required) or ‘until midnight the following day’ (as is more generous but also more standard).
On Friday Starwood’s customers and shareholders were excited by a Chinese group led by insurer Anbang making a substantially higher offer for the hotel chain than the pending Marriott Marriott acquisition deal. Starwood informed Marriott that it intended to terminate their deal and enter into an agreement with this ‘superior proposal’. Starwood put off its shareholder vote. Under the agreement though Marriott had 10 days to counter.
Marriott acted quickly, submitting a new bid for Starwood and Starwood’s Board has accepted it. It’s a mix of cash and stock, the value highly dependent on Marriott’s recently-volatile share price.
The US Department of Transportation requires US airlines to offer either the ability to hold a reservation for 24 hours without ticketing, or to allow full refunds on non-refundable tickets for 24 hours after purchase, for travel booked at least 7 days in advance.
For years and long before this DOT requirement American has allowed consumers to place reservations on hold. It’s not something they were forced to do. Effective April 1, however, American will be conforming to the rest of the industry. They will no longer free 24 hour holds and instead will offer only 24 hour cancellation.
After each Uber ride, you can generally rate your driver. For the most part the ratings are 1-5. For a short while in Austin Uber was testing having riders rate their drivers with emojis.
Uber drivers rate you as well. Although it doesn’t matter nearly as much. Consistent problem customers can be invited to no longer use the platform — and either get a new phone or take up with Lyft instead.
A rider’s number is more of a curiosity. Uber will tell you your number. You used to have to ask. Now it’s in the app. And in fact they will now give you your average rating to two decimal places.
American Express lost 10% of its card business when they lost the Costco deal. Here’s an inside account of how American Express lost the business. As costly as it was for American Express to lose Costco, it would have been more costly to retain Costco.
Costco’s switch to Visa though was delayed. This is a complicated transition for the merchant and for the banks, especially with Citibank picking up American Express’ “back book” (Citibank bought the existing card accounts from Amex).
Now we have a timeline, and what happens next.
A roundup of the most important stories of the day. I keep you up to date on the most interesting writings I find on other sites – the latest news and tips.
After clearing transit passport control and security, I had a 3 hour connection, and no gate was posted yet for my flight. I decided to head to the British Airways first class lounge on the south side of the airport.
British Airways has business class, first class, and Concorde Room lounges. The Concorde Room is their ‘real’ first class lounge which is open only to BA’s first class passengers (and a select few elites). Business class passengers use the business lounge. So the ‘Galleries First’ first class lounge is really a ‘top tier elite lounge’.
Alaska Airlines seems to be coming the Germany or Florida of US carriers, where every urban legend or strange story actually happens.
During Thursday’s Bellingham, Washington – Honoulu flight a passenger’s iPhone apparently burst into flames.
Delta pretty much never makes business class saver awards available on its own Los Angeles – Sydney flight.
Nevertheless, you could used to be able to use Delta SkyMiles to get to Australia in business class — flying the long way through Asia. You could make award bookings on China Southern or China Eastern (with fuel surcharges) connecting in Shanghai or Guangzhou respectively. Or you could make an award booking on Korean Air through Seoul.
Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel -- a topic he has covered since 2002.
Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »
