Chinese companies, the St Regis, 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 Shanghai Jin Jiang. 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.