IT has been revealed that Hyatt is also in the running as a buyer for Starwood Hotels and Resorts, according to CNBC.
Talks have been going on for weeks, the financial news outlet reports, and that Hyatt would take control of the united entity should the deal go through.
Earlier last week, Shanghai Jin Jiang International Hotels, HNA Group, parent company of Hainan Airlines, and sovereign wealth fund China Investment Corp had all showed interest in taking over the estimated US$12 billion hospitality giant.
Sources have told TTG Asia e-Daily that Wanda Hotel Group is also a contender for Starwood, which includes brands such as St Regis, W Hotels, Sheraton and Westin in its portfolio.
