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Malloy Congratulates Starwood On Sale; Future Of Stamford Jobs Uncertain

Gov. Dannel Malloy speaks at an event to celebrate a new expanded facility for Conair in Stamford.
Gov. Dannel Malloy speaks at an event to celebrate a new expanded facility for Conair in Stamford. Photo Credit: Jay Polansky

STAMFORD, Conn. — Gov. Dannel Malloy congratulated Starwood on its sale to Marriott after an event in Stamford on Monday. But he said he has yet to have discussions directly with Marriott about the future of the Starwood jobs in Connecticut.

“It’s an interesting thing to watch,” Malloy said of the deal, which was announced Monday morning. “That’s been a transaction that has been pending on and off for about a year.”

Marriott will acquire Stamford-based Starwood for $12.2 billion, according to published reports.

Malloy congratulated Starwood, which has been based in Stamford since 2012, on the deal.

“$12.2 billion is nothing to sneeze at,” Malloy told reporters gathered outside Conair’s expanded building in Stamford after a ribbon cutting in the facility.

Malloy also praised Marriott.

“Marriott’s a great label,” he said. “(But) it sounds like they’re going to keep some of the brands of Starwood.”

Starwood brands range from Sheraton and Westin to the trendy boutique-oriented W hotels. The company currently has one hotel in Stamford — the Stamford Sheraton Hotel — while Marriott has the Courtyard Stamford Downtown and the Stamford Marriott Hotel & Spa.

Combined, the companies operate more than 5,500 hotels with 1.1 million rooms worldwide. The deal would make Marriott the largest hotelier in the world.

The combined companies’ revenue for the 12 months that ended Sept. 30, totaled over $2.7 billion.

Marriott International is based in Bethesda, Md., where the new company's headquarters will be located. Arne Sorenson, president and CEO of Marriott International, will remain president and CEO following the merger.

“Our board concluded that a combination with Marriott provides the greatest long-term value for our shareholders and the strongest and most certain path forward for our company," said Bruce Duncan, Chairman of the Board of Directors of Starwood Hotels & Resorts Worldwide, said. "Starwood shareholders will benefit from ownership in one of the world’s most respected companies, with vast growth potential further enhanced by cost synergies.”

Adam Aron, Starwood Hotels & Resorts Worldwide's interim chief executive officer, said: “We are excited to play a vital role in the creation of the biggest and best hotel company in the world with tremendous upside potential. 

"The combination of our two companies brings together the best in innovation, culture and execution," he said. 

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