Chinese companies, Shanghai Jin Jiang, HNA Group and China Investment Corp, are all competing to win approval to bid for Starwood Hotels & Resorts Worldwide; if a sale is completed it would be the largest Chinese takeover of a US company. The deal has been in limbo since last year, when Trump announced he was pulling out from an agreement with his business partner, casino magnate Steve Wynn, that had promised him up to $100 million worth of hotel Chinese investors are keen on buying up US hospitality brands, as was shown with its purchase last year of the Waldorf Astoria's New York hotel to a Chinese insurance firm for $1.95bn.
Chinese companies, Shanghai Jin Jiang, HNA Group and China Investment Corp, are all competing to win approval to bid for Starwood Hotels & Resorts Worldwide; if a sale is completed it would be the largest Chinese takeover of a US company. Stamford based Starwood, operates hotels such as Westin, W Hotels and the St Regis. Chinese investors are keen on buying up US hospitality brands, as was shown with its purchase last year of the Waldorf Astoria's New York hotel to a Chinese insurance firm for $1.95bn.