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CE traced Hyatt Starwood intends to acquire or join the competition

  • Source:China News Network
  • Release on:2015-12-08

Chinese companies named by the Chinese government to bid for the global chain hotel giant Starwood Hotels and Resorts Worldwide is seeking approval. Informed sources said the latest, world-renowned Hyatt Hotel Group is bidding to join the ranks of Starwood.

"Wall Street Journal" website in English as early as the 28th update of citing people familiar with the news that at least there is the Chinese government approved the bid for Starwood Hotels and Resorts Worldwide China three large companies are fighting. In the past two months, Shanghai Jin Jiang International Hotels Group, Hainan Airlines Group and China Investment Corporation have submitted a separate proposal to the Chinese government takeover. If the deal finalized, it could become the largest-ever Chinese acquisitions of US companies trading.

US Starwood Hotels and Resorts Worldwide official website shows, Starwood Hotels & Resorts Worldwide, Inc. is the world's most high-end hotel business. With nearly 1,200 hotels in 100 countries and territories worldwide. In the past six years, Starwood Luxury Hotels in doubling the number of global.

Statistics show that Starwood is one of the world's largest hotel and entertainment group, with its high-end luxury hotel known. The group's brands include Westin, Sheraton, St. Regis, The Luxury Collection and a number of luxury hotels.

In April, Starwood Board, said the fear of growth than other hotel operators, Starwood will open to sell. In July this year, media reports Intercontinental Hotel with Starwood initial contact, but the hotel group quickly issued a statement denied.

US financial channel NBC 28 News said citing people familiar with the release, the world-renowned hotel company Hyatt (Hyatt) Group is working with Starwood talk about acquisitions. The report said that two hotels have been negotiations for several weeks, the Hyatt Regency in cash and stock acquisition of Starwood. At present, the message has not been publicly confirmed the above two hotel groups.

The news boosted the 28th New York Stock Exchange after opening Starwood shares rose 8.9 percent, followed by gains fell to 6.9%.

Informed sources said that the current market value of Starwood at around $ 12 billion, higher than the level of any offer.