Hyatt also in talks to buy Starwood Hotels

Connecticut-based chain could sell for as much as $17B

New York /
Oct.October 28, 2015 04:15 PM

Hyatt Hotels Corp. joined a growing throng of reported bidders for Starwood Hotels & Resorts Worldwide.

The Stamford, Conn.-based Starwood owns 1,200 properties globally, including the Westin, the W and St. Regis brands. It was valued at $12 billion at the start of Tuesday trading. Hyatt is valued at $7.2 billion.

The company could sell for as much as $100 per share, $17 billion, according to Harry Curtis of Nomura Securities.

“My hunch is they (Hyatt) would be able to (buy Starwood). They could pull it off but it would be a stretch,” Argus Research Group analyst John Staszak told Reuters.

Starwood began to contemplate the sale three months ago, and has reached out to bidders including InterContinental Hotel Group and Wyndham Worldwide, a source told Reuters.

Two Chinese companies – Shanghai Jin Jiang International Hotels and HNA, the parent of Hainan Airlines — and the country’s sovereign wealth fund are also mulling bids. [Reuters]Ariel Stulberg

 

Related Articles

arrow_forward_ios
Hyatt Hotels CEO Mark Hoplamazian and Apple Leisure Group Chairman Alex Zozaya (Hyatt, Apple Leisure Group)
Hyatt Hotels buys Apple Leisure Group for $2.7B
Hyatt Hotels buys Apple Leisure Group for $2.7B
Hyatt buying lifestyle hotel chain Two Roads
Hyatt buying lifestyle hotel chain Two Roads
Hyatt buying lifestyle hotel chain Two Roads
Marriott to keep all 30 flags after $13B Starwood deal
Marriott to keep all 30 flags after $13B Starwood deal
Marriott to keep all 30 flags after $13B Starwood deal
Marriott closes on $13B Starwood purchase
Marriott closes on $13B Starwood purchase
Marriott closes on $13B Starwood purchase
Triangle Equities partners with Starwood on $100M hotel at Lighthouse Point
Triangle Equities partners with Starwood on $100M hotel at Lighthouse Point
Triangle Equities partners with Starwood on $100M hotel at Lighthouse Point
Room with a voice: Starwood incorporating Siri at Aloft hotels
Room with a voice: Starwood incorporating Siri at Aloft hotels
Room with a voice: Starwood incorporating Siri at Aloft hotels
Starwood Capital looks to sell all three 1 Hotels properties
Starwood Capital looks to sell all three 1 Hotels properties
Starwood Capital looks to sell all three 1 Hotels properties
Westin Times Square owner sues to stop Starwood takeover
Westin Times Square owner sues to stop Starwood takeover
Westin Times Square owner sues to stop Starwood takeover
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...