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April 1, 2017Westin Disconnects from Marriott
NEW YORK CITY (March 31, 2017) In a historic and significant transaction Marriott has agreed to sell the Westin brand to a group comprised of former Westin executives, northwest investors, and one of the world’s wealthiest men, Carlos Slim Helu.
Transaction highlights have not yet been made public, however, it has been rumored that only 130 of the 192 Westin-branded properties are included in the deal. The remaining 62 hotels will be reflagged as either J.W. Marriott or Autograph Collection Hotels.
The corporate headquarters for the newly formed company will be either Portland, Oregon, or its original location, Seattle, Washington. Company principals are in discussion with the two municipalities regarding available tax incentives and other benefits that may be offered to locate in those cities.
Talks are underway with a number of retired former Westin executives to act as advisors to help infuse the corporate culture that existed before the company’s sale to Aoki in 1990.
According to Hotel Analyst’s Andrew Sangster-Front, “this historic transaction is akin to the lodging industry’s version of Brexit. Maintaining a distinction among brands, especially when a handful are very similar is a task that is not always achievable, and not all brands receive their rightfully deserved attention”.
An unidentified source confirmed that Westin would rely on Marriott’s reservation and group sales services for a two year period following closing which is scheduled for June 30, 2017.
A press conference is scheduled for April 3, 2017 at The Plaza Hotel in New York City to introduce the company’s leadership team. April first is such a good day to distribute fake news.