Marriott needs to figure out just how badly it wants Starwood. And Starwood needs to figure out what's better for them in the short term (Anbang) versus the long term (Marriott, maybe).
Three of the named entities involved in the takeover bid for Starwood don't have much experience in the hotel business, but that won't keep them from buying Starwood.
Sheraton is trying to accomplish a lot: Win "hearts and minds" of business travelers, revitalize a brand, and grow beyond 450 properties — all while its parent company is preparing to merge with another hotel giant.