Starwood Seen as Acquisition Target for Hyatt, Chinese Firms
- 9 years ago
Starwood Hotels & Resorts Worldwide Inc., the lodging company that hired an adviser earlier this year to help explore strategic options, has a new suitor.
Hyatt Hotels Corp. is in advanced talks to buy Starwood, according to a CNBC report Wednesday.
Hyatt had 41 owned or leased hotels with about 20,000 rooms as of June 30, in 10 countries.
The company has said it wants to increase the proportion of rooms outside the U.S. from 18 percent to 22 percent in owned and leased properties.
Hyatt owns assets in Paris, London, Zurich, Seoul and Mexico City in addition to the U.S.
It has 618 properties in 51 countries, including hotels it manages.
At least three Chinese firms also are vying to acquire Starwood, said a person with knowledge of the matter.
Hyatt Hotels Corp. is in advanced talks to buy Starwood, according to a CNBC report Wednesday.
Hyatt had 41 owned or leased hotels with about 20,000 rooms as of June 30, in 10 countries.
The company has said it wants to increase the proportion of rooms outside the U.S. from 18 percent to 22 percent in owned and leased properties.
Hyatt owns assets in Paris, London, Zurich, Seoul and Mexico City in addition to the U.S.
It has 618 properties in 51 countries, including hotels it manages.
At least three Chinese firms also are vying to acquire Starwood, said a person with knowledge of the matter.