Deals
Starwood Seen as Acquisition Target for Hyatt, Chinese Firms
- Hyatt in advanced talks to buy operator of W brand, CNBC says
- Timeshare unit being spun off, sold to Interval Leisure
A Grand Hyatt hotel in China.
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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. At least three Chinese firms also are vying to acquire the Stamford, Connecticut-based company, said a person with knowledge of the matter. Also Wednesday, Starwood said its timeshare unit, Vistana Signature Experiences, will be spun off and acquired by Miami-based Interval Leisure Group Inc.