China Inc. Looks to Acquire Starwood Hotels
Hospitality giant Starwood Hotels & Resorts Worldwide Inc. has attracted three major Chinese buyers. For months, Stamford-based Starwood Hotels has run a strategic review on its business, eyeing and putting on feelers on potential mergers, sell-off or deals. They hired investment bank Lazard to assist on this. The hotel giant has been selling off assets over the past year. In April 2015, Starwood Hotels’ board of directors mentioned they would be open to a sale. High-quality hotel assets are a sovereign wealth fund favorite. Buyers of these types of assets include the Abu Dhabi Investment Authority (ADIA) and the Qatar Investment Authority (QIA).
The Would-be Bidders
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