Hyatt Hotels in Advanced Talks to Buy Starwood Hotels and Resorts
Photo Credit: Hyatt CEO Mark Hoplamazian speaking in October 2015 at the Skift Global Forum. Skift
Skift Take
Hyatt's entry into the Starwood sweepstakes comes as a surprise since Hyatt, with a market cap of $7.46 billion, is a much smaller chain than Starwood, which boasts a $13.58 billion market cap.
Starwood may be close to finding its elusive strategic alternative: CNBC reports that Hyatt Hotels is in advanced talks to acquire the larger Starwood Hotels, although no formal offer has yet been made.
CNBC says a formal offer could come in a week or two.
