Starwood Leadership's Employee Message: 'We've Been Dealt a Tough Hand'
Skift Take
As outsiders looking in, the bidding war between Anbang and Marriott for Starwood played out like a soap opera. But for Starwood employees, the drama taking place was very real, and the outcome will have a very direct impact on their futures.
In addition to having to persuade its shareholders to approve its newly revised merger agreement with Marriott International, Starwood Hotel & Resorts has an added responsibility: to assure its approximately 188,000 employees around the world that Marriott's pending acquisition won't equate to job losses, and to rally their spirits for an upcoming, and possibly painful integration.
On March 31, shortly after news broke that Anbang Insurance Group and its consortium had abandoned their pursuit to acquire Starwood, Starwood CEO Thomas B. Mangas sent a note to all Starwood associates in an attempt to assure them that proceeding with Marriott was a good thing, and empathizing with them about the "roller coaster ride" they've experienced in the last few weeks throughout this bidding war between Marriott and Anbang.
On April 1, the company's leadership sent another note to Starwood associates that echoed Mangas' sentiments, and provided additional details as to why the merger with Marriott will be beneficial and why it was a good thing that Anbang stepped in. For one, the value of the company increased, and Marriott is committed more than ever to buying the company because of its loyalty program, brands, and talent.
The list of bullet points also attempted to assuage any anxiety or fears its employees may have regarding their job security. It also noted that the company does not know why the Anbang consortium decided to remove itself from the bidding process. Starwood leadership also made it clear that it understood how difficult the last few
