Marriott battles China’s Anbang for control of the chain, which last week made landmark entry into Cuba during Obama’s visit
The price for Starwood Hotels has rocketed higher after an offer from China’s Anbang and its partners crossed the $15bn mark in a fight for control with Marriott International.
Starwood Hotels & Resorts Worldwide, which has a stable of exclusive hotels including the St Regis New York, said Monday that the offer from the Anbang group is “reasonably likely” to be superior to the one made just last week by Marriott.
Related: Chinese investors rival Marriott with $14bn offer for Starwood hotel chain
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