Hyatt, Starwood Talk Merger: Reports
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Starwood owns the Westin and Sheraton brands, among others.
STAMFORD, CT—The lodging sector could be next to see a king-sized deal, as media reports say Hyatt Hotels Corp. and Starwood Hotels & Resorts Worldwide are in advanced talks about a merger. Additionally, the Wall Street Journal reported that at least three Chinese firms are vying to acquire Starwood, which announced this past April that it had launched a strategic review process including a possible sale.
Regardless of whether a sale of the company occurs anytime soon, though, the hoteliers’ shareholders will see a payday in the near term. Starwood announced Wednesday that it would sell its timeshare business, Vistana Signature Experiences, to Interval Leisure Group for $1.5 billion…
