Big News: Link Your Starwood And Marriott Accounts

Announced today, you can link your Starwood account to your Marriott account or vice versa. This will enable you to exchange points from one account to the other with an instant transfer at a rate of 3 Marriott points per Starwood points. 
If you look at this closer, it means if you are collecting Marriott points in order to buy a Southwest package or any other vacation package, you can top off your account by transferring Starpoints. 
For example, I am saving for the 270,000 package that includes 7 nights in a category 1-5 hotel and 110,000 Southwest miles. The Southwest miles will net me the companion pass. 
If I were short, I could now transfer Starwood points to Marriott at 1:3 to reach my goal. 
However, look at your goals to see if this is the best move for you. For now, Starwood still offers an extra 5,000 miles if you transfer your points to an airline like American. 
And Marriott hotels usually cost about 12,000-15,000 points per night. Starwood hotels cost as little as 3,000 points per night. You could transfer Starwood points to Marriott in order to reserve a Marriott hotel for just 4,000-5,000 Starwood points per night. Not bad! 
Lots of options. 
If you link your account, you will get automatic match in upgrade status. 
The programs will merge in 2018, we don't know yet what that will look like. This first step is promising so hopefully it will go smoothly. 

Marriott Hotels: AC Hotels, Autograph Collection, Bulgari*, Courtyard, Delta Hotels and Resorts, Edition, Fairfield Inn & Suites, Gaylord Hotels, JW Marriott, Marriott Executive Apartments*, Marriott Hotels and Resorts, Marriott Vacation Club, MOXY Hotels, Protea Hotels, Renaissance, Residence Inn, SpringHill Suites, Ritz-Carlton, TownePlace Suites

*Bulgari does not participate in Marriott Rewards; members can redeem but not earn points at Executive Apartments.

Starwood Hotels: Aloft, Design Hotels, Element, Four Points, Le Meridien, Sheraton, St. Regis, The Luxury Collection, Tribute Portfolio, W Hotels, Westin