Starwood Acquisition & Historical Information
On November 16, 2015, Marriott International announced its plan to acquire Starwood Hotels & Resorts Worldwide. On April 8, 2016 stockholders of both Marriott International and Starwood Hotels & Resorts Worldwide approved the merger. On September 23, 2016, the merger closed with the Federal Trade Commission prior to market opening.
Below you can find links to merger related documents as well as historical stock information related to Starwood Hotels & Resorts Worldwide.
Starwood Acquisition Tax Related Documents and Historical Company Information
Note: The information below is intended to assist former Starwood shareholders with questions related to their Starwood stock. Some of this information is compiled from third party sources and Marriott International makes no assurances as to the accuracy or completeness of this information. We advise you to share this information with your tax professional. Marriott International cannot provide tax advice.
Information related to Starwood's Historical Transactions & Distributions
Sale of Vistana Signature Experiences to Interval Leisure Group: On May 12, 2016, Interval Leisure Group announced completion of the acquisition of Vistana Signature Experiences from Starwood Hotels & Resorts Worldwide. Vistana entered into an exclusive, 80-year global license agreement with Starwood for the use of the Westin© and Sheraton© brands in vacation ownership.
As a result of the completion of the spinoff of Vistana Signature Experiences, Starwood stockholders were required to allocate the aggregate tax basis in their Starwood common stock held immediately before the Distribution among such shares and the shares of Vistana common stock treated as being received by such stockholders in the Distribution.
For additional information, please refer to the following documents:
Sale of Hotel Portfolio to Host Hotels and Resorts (formerly Host Marriott): On April 10, 2006, Host Hotels and Resorts acquired 28 properties from Starwood Hotels & Resorts Worldwide, Inc. in a stock and cash transaction. An additional seven hotels located in Europe and Asia were deferred pending the receipt of necessary approvals and lapse of certain notice periods. The total value of the transaction (including the seven deferred hotels) was approximately $4.23 billion including debt assumption.
As part of the structure of the sale, Host Hotels & Resorts, Inc. acquired, among other things, the REIT (Class B shares) portion of Starwood Hotels & Resorts Worldwide, Inc. On April 7, 2006, the REIT and C Corp shares (Common stock or Class A shares) were depaired (separated) and the C Corp stock remained the only Starwood Hotels & Resorts Worldwide, Inc. stock that was publicly held.
Immediately after the transaction closed, Starwood Hotels & Resorts Worldwide, Inc. shareholders continued to own Starwood Hotels & Resorts Worldwide, Inc. common stock, which began trading separately from the Class B share under the symbol "HOT" under a new CUSIP number, 85590A401. More information on the transaction is available in the following press releases:
Unexchanged Shares / Predecessor Investments
ITT CORPORATION: Original shareholders in ITT Corporation with questions on the tax treatment of the merger with Starwood Hotels & Resorts Worldwide, Inc. in 1998, the original cost basis and/or how to exchange ITT stock for Starwood Hotels & Resorts Worldwide, Inc. stock may refer to the letter to shareholders dated February 24, 1998. Historical ITT stock prices are available at http://www.ITT.com. In order to exchange shares, please contact our transfer agent, Computershare Shareowner Services at (800) 311-4816.
VISTANA: Shareholders in Vistana with questions on the tax treatment of the acquisition may refer to the letter to shareholders dated October 1, 1999.
HOTEL INVESTORS TRUST: To exchange Hotel Investors Trust shares for Starwood Hotels & Resorts Worldwide, Inc. shares, please contact our transfer agent, Computershare Shareowner Services at (800) 311-4816.