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Marriott Gets Court Order Preventing Takeover of Eden Roc Renaissance Hotel

A New York State Supreme Court judge signed a temporary restraining order late Monday, protecting Marriott International (NYSE: MAR) and its affiliate Renaissance Hotel Management Company, LLC, the manager of the Eden Roc Renaissance Miami Beach hotel, from takeover attempts and other interference by the hotel owner until a hearing in mid-November.

In the pre-dawn hours on Sunday, October 14, the hotel owner failed at an attempted surprise takeover of the hotel by force, in disregard of the law and its obligations under the hotel management agreement.  The attempt ended when the Miami Beach police ordered the owner's effort to cease.

"It's inexplicable why ownership and its advisors would have engaged in this outrageous and reckless act that endangered our employees, the hotel and its economic prospects," said Marriott's General Counsel Ed Ryan. "The attempted takeover failed.  It is business as usual at the hotel, and our employees continue to welcome guests with the exceptional service they have come to expect at the hotel."

Pending the hearing on Marriott's motion, the TRO enjoins the hotel owner, "its agents, and all other persons in its control" from

See full press release

Posted-In: Earnings News Guidance Management Global

 

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