News
Marriott and Starwood sign amended merger agreement

Maldives.net.mv – Marriott International, Inc and Starwood Hotels & Resorts Worldwide, Inc announced today that the companies have signed an amendment to their definitive merger agreement that creates the world’s largest hotel company.
Under the terms of the amended merger agreement, Starwood shareholders will receive $21.00 in cash and 0.80 shares of Marriott International, Inc. Class A common stock for each share of Starwood Hotels & Resorts Worldwide, Inc. common stock. Excluding its timeshare business, the transaction values Starwood at approximately $13.6 billion ($79.53 per share), consisting of $10.0 billion of Marriott International stock, based on the closing price of $73.16 on March 18, 2016, and $3.6 billion of cash, based on approximately 170 million outstanding Starwood shares. Starwood shareholders will own approximately 34 percent of the combined company’s common stock after completion of the merger, based on current shares outstanding.
In addition, Starwood stockholders are expected to receive separate consideration in the form of Interval Leisure Group common stock from the spin-off of the Starwood timeshare business and subsequent merger with ILG, currently valued at $5.83 per Starwood share, based on ILG’s share price as of market close on March 18, 2016. Both companies continue to expect the closing of this transaction will occur well before the planned date of the Marriott-Starwood merger closing. The amended agreement and the ILG transaction have a combined current value of $85.36 per share of Starwood common stock.
As a result of extensive due diligence and joint integration planning, Marriott is confident it can achieve $250 million in annual cost synergies within two years after closing, up from $200 million estimated in November 2015 when announcing the original merger agreement.
This revised agreement offers superior value for Starwood’s shareholders, the ability to close quickly, and provides value creation potential that will allow both sets of shareholders to benefit from improved financial performance. Marriott and Starwood have already obtained important regulatory consents necessary to complete the transaction, including clearing pre-merger antitrust reviews in the United States and Canada.
Arne Sorenson, President and Chief Executive Officer of Marriott International, said: “After five months of extensive due diligence and joint integration planning with Starwood, including a careful analysis of the brand architecture and future development prospects, we are even more excited about the power of the combined companies and the upside growth opportunities. We are also more confident of achieving our updated target of $250 million of cost synergies. With a higher cash component in the purchase price, we have improved the transaction’s financial structure as well.
“We expect to accelerate the growth of Starwood’s brands, leveraging Marriott’s worldwide hotel development organization and owner and franchisee relationships. On the top line, combined sales expertise and increased account coverage should drive additional customer loyalty and increase revenue. Hotel level cost savings should benefit owners and franchisees, including better efficiencies in reservations, procurement and shared services. The company will have a broader global footprint and the most powerful frequent traveler programs in the industry, strengthening Marriott’s ability to serve guests wherever they travel.
“We are also bringing together two of the most talented and experienced teams in the industry. Together, they will combine their innovative ideas and service commitment to deliver unforgettable guest experiences.”
Bruce Duncan, Chairman of the Board of Directors of Starwood Hotels & Resorts Worldwide, said, “We are pleased that Marriott has recognized the value that Starwood brings to this merger and enhanced the consideration being paid to Starwood shareholders. We continue to be excited about the combination of Starwood and Marriott, which will create the world’s largest hotel company with an unparalleled platform for global growth in the upscale segment. We are also pleased with the progress the two companies have made toward closing.
“Throughout this process, our Board of Directors has remained laser-focused on maximizing value for Starwood shareholders, and Marriott’s revised offer provides the highest value to our shareholders through long-term upside potential from shared synergies and ownership in one of the world’s most respected companies, as well as significant upfront cash consideration.
“With its asset light business model, multi-year industry leading unit growth, powerful brands, and consistent return of capital to shareholders, Marriott stock has consistently traded at valuation premiums to its public peers.”
Marriott expects the transaction to be roughly neutral to adjusted earnings per share in 2017 and 2018.
Marriott remains committed to maintaining an investment grade credit rating after the merger. While Marriott anticipates its leverage will be modestly higher than targeted levels when the transaction closes, it expects to reach targeted leverage of 3.0x to 3.25x adjusted debt to adjusted EBITDAR by year-end 2016.
One-time transaction costs for the merger are expected to total approximately $100 million to $130 million. Transition costs are also expected to be incurred over the next two years.
The transaction is subject to Marriott International and Starwood Hotels & Resorts Worldwide stockholder approvals, completion of Starwood’s planned disposition of its timeshare business, obtaining remaining regulatory approvals and the satisfaction of other customary closing conditions. Marriott and Starwood have each agreed to convene its respective stockholder meeting to consider the transactions contemplated by the amended merger agreement on March 28, 2016 and to immediately adjourn such meeting until April 8, 2016. Assuming receipt of the necessary approvals, the parties continue to expect the transaction to close in mid-2016. The break-up fee payable by Starwood in certain circumstances increased to $450 million from $400 million. In circumstances in which the termination fee is payable , Starwood would also be required to reimburse Marriott for up to $18 million of actual costs incurred by Marriott in connection with the financing of the transaction.
As announced on March 18, 2016, Starwood’s Board previously determined that the binding and fully financed proposal from a consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Limited to acquire all of the outstanding shares of common stock of Starwood for $78.00 per share in cash constituted a “Superior Proposal,” as defined in the merger agreement. The Consortium’s proposal, together with the ILG transaction, have a combined current value of $83.83 per Starwood share. In connection with the amended merger agreement, Starwood’s Board of Directors has determined that the Consortium’s proposal no longer constitutes a “Superior Proposal”, and therefore under the merger agreement Starwood is no longer permitted to engage in discussions or negotiations with, or provide confidential information to, the Consortium. Starwood’s Board unanimously recommends the amended merger agreement with Marriott to Starwood’s stockholders.
Awards
Soneva Secret makes Condé Nast Traveller’s 2025 Hot List of best new hotels

Every year, the editors of Condé Nast Traveller dedicate months to exploring new travel experiences around the world, from groundbreaking dining concepts to reimagined retreats and ambitious new hotel openings. Now in its 29th edition, the Hot List is considered one of the most anticipated recognitions in the global travel and hospitality industry. This year’s theme? Joy. A fitting choice for a list that includes zip-lining to dinner in the Maldives, treehouse sleepovers in Kenya, and fine dining in unexpected corners of the world.
One of the standout selections in the 2025 list is Soneva Secret, the newest ultra-luxury concept from Soneva, which continues to push the boundaries of barefoot luxury in the Maldives. Located in Haa Dhaalu Atoll in the far north of the archipelago, Soneva Secret invites guests into a world of intimacy, privacy, and personalised service — reimagined through a hyper-exclusive lens.
Comprising just 14 villas, Soneva Secret embodies the group’s signature sustainable luxury with an even greater emphasis on privacy and bespoke experiences. Each villa comes with a dedicated “Barefoot Guardian” and “Barefoot Assistant,” ensuring every aspect of the stay is curated to the individual preferences of each guest. Some villas even feature retractable roofs for stargazing, waterslides directly into the turquoise lagoon, and direct access to thriving coral reefs.
True to Soneva’s commitment to wellness, sustainability, and fine cuisine, the property offers unique culinary experiences, including dinners on a castaway island, open-air beach kitchens, and a new interpretation of experiential dining that begins with a zip-line ride through the forest canopy. The resort also features glassblowing workshops, wellness therapies, and tailor-made adventures designed around guest interests.
Soneva Secret’s inclusion on the Hot List places it alongside other global trailblazers redefining travel. It also reinforces the Maldives’ position as a leader in ultra-premium, experience-led tourism.
With this recognition, Soneva Secret joins a prestigious global club of new hotels that are not only raising the bar for luxury but are also rethinking what travel can be — joyful, personal, and unforgettable.
For the Maldives, this recognition is more than just another accolade. It is a testament to the archipelago’s continuing allure and its growing portfolio of innovative, world-class hospitality offerings.
News
COLOURS OF OBLU’s 3 resorts in Maldives win British Airways Holidays Customer Excellence Award

It is a triple celebration at COLOURS OF OBLU, as not one but three of its stunning sister resorts have been honoured with the prestigious British Airways Holidays Customer Excellence Award for 2024.
British Airways Holidays is one of the UK’s leading tour operators, and prides itself on taking its customers’ holidays seriously. It uses unbiased, independently verified customer feedback to carefully identify top-rated hotels as part of its commitment to provide high-quality holidays.
OBLU SELECT Lobigili has received a perfect score of 5 out of 5. Both OBLU SELECT Sangeli and OBLU NATURE Helengeli by SENTIDO scored an impressive 4.7 out of 5, based purely on genuine guest reviews. This recognition puts them amongst the crème de la crème of British Airways Holidays partners worldwide – no small feat considering over 72,000 reviews were collected this year.
OBLU SELECT Lobigili is a romantic adults’ exclusive resort just a short 15-minute journey from Malé International Airport. Travellers can indulge in a palette of vibrant experiences, from colourful sunsets to exotic under ocean dining at Only BLU, from snorkelling at the marine-rich house reef to relaxing in the garden spa. “This recognition would not have been possible without the dedication and passion of our hardworking team, who continuously strive to deliver exceptional experiences to each guest,” said Christopher Baker, General Manager OBLU XPERIENCE Ailafushi and OBLU SELECT Lobigili.

Nestled in the pristine North Malé Atoll, OBLU SELECT Sangeli offers a chic and vibrant island escape with contemporary villas, a separate One Banyan adults-only island, and gourmet dine-around options. It is no wonder guests have fallen in love with this tropical haven. “Our team works tirelessly to ensure every guest has a magical, memorable holiday. Knowing that our guests have rated us so highly is the greatest compliment we could ask for,” said Jenni Hartatik, General Manager OBLU SELECT Sangeli.
Meanwhile, just a short speedboat ride from Malé, OBLU NATURE Helengeli by SENTIDO continues to impress with its unique island character, vibrant house reef, and down-to-earth, barefoot charm. Known for its incredible diving and snorkelling right off the beach, it’s a paradise for underwater enthusiasts and nature lovers alike. Reflecting on the award, Alain Camille Trefois, General Manager OBLU NATURE Helengeli said, “this award is a reflection of our passionate team, the beauty of Helengeli island, and the unforgettable experiences we strive to deliver every single day”.

COLOURS OF OBLU, a lifestyle hospitality brand by Atmosphere Core, is an experience collective that creates Vibrant Destinations designed to awaken the senses, bring balance, and provide the gift of lifetime memories. Travellers can choose from four vivid and refreshing island resort experiences at OBLU SELECT Lobigili, OBLU SELECT Sangeli, OBLU NATURE Helengeli by SENTIDO, and OBLU XPERIENCE Ailafushi.
News
Maldives island featured on Google Earth Day doodle

Google marked Earth Day on Tuesday with a special doodle highlighting selected natural landscapes from around the world, including a site from the Maldives.
The doodle used satellite images to form the letters of the word “Google,” with each letter represented by a distinct geographical location. The capital “G” was illustrated using the uninhabited island of Eriyadhoo in Shaviyani Atoll, Maldives.
The image chosen for Eriyadhoo shows the island surrounded by white sand and turquoise waters, forming a shape resembling the first letter of Google’s name.
Other locations featured in the doodle included an O-shaped river in the French mountains for the first “O” and a section of the wilderness area in Quebec, Canada, for the second “O.” The second “G” was shaped by a mountain river in Argentina. The “L” depicted part of the mountainous terrain in the US state of Utah, while the final “E” was represented by a remote area in New South Wales, Australia.

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