Hyatt Joins the Bidding to Buy Starwood

The list of Starwood suitors continues to grow, with Hyatt and two Chinese hotel companies lining up this week to pitch some woo to the hotel chain that owns Sheraton and Westin.

Citing unnamed insiders, CNBC yesterday reported that Hyatt is in “advanced negotiations” to acquire Starwood, the parent company of 10 brands including Sheraton, St. Regis, Westin, W, and Le Meridien.

Both hotels declined to comment.

Hyatt has been courting Starwood for weeks, CNBC said. So, too, have two Chinese companies, Shanghai Jin Jiang International Hotels and Hainan Airlines parent HNA Group, The Wall Street Journal reported on Tuesday.

Jin Jiang last month acquired a majority stake in Keystone Lodging Holdings, making it China’s largest hotel company.

The third-largest publicly traded hotel company in the United States, behind Hilton Worldwide and Marriott International, Starwood has a market value of about $13 billion, almost double Hyatt’s $7.1 billion.

Slimming down to look good for suitors, Starwood yesterday also reported a deal to sell its vacation-ownership division, Vistana Signature Experiences, to Interval Leisure Group for $1.5 billion.

Pic: Thelmadatter