Hyatt also in talks to buy Starwood Hotels

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

Starwood Hyatt
Hyatt's Mark Hoplamazian, the W New York Times Square and Starwood's Adam Aron

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.

Sign Up for the undefined Newsletter

“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

 

Recommended For You