Huge Bid for Starwood Hotels Puts Chinese Firm in Spotlight
Beijing — A $14 billion bid for Starwood Hotels and Resorts Worldwide Inc. surfaced Monday, putting a spotlight on Chinese firm Anbang Insurance Group and complicating a plan to meld Starwood and Marriott International Inc. into the largest hotel company. Starwood told Marriott on Friday that it received an unsolicited offer from a consortium led by Anbang, according to a statement released Monday by Marriott. Starwood confirmed that...
Show Us the Money
Concord — The attention that New Hampshire gets from standing at the front of the presidential primary line is nice, but there’s another reason to put up with the endless pollster telephone calls and traffic blocked by campaign events: Money. “Usually the first quarter of the year is the slower time for us. You come off of the holiday party madness and it almost comes to a screeching halt after New Year’s Day,” said Sue O’Donnell,...
For Trump, It’s Business As Usual
Donald Trump’s statements about Muslims and Latinos have drawn widespread rebuke from politicians in both parties and many other national leaders. But the companies that do business with Trump have generally remained silent in the face of those polarizing remarks, and so far there’s little evidence that his businesses are suffering substantially as a result of his candidacy. Sales of his condominiums in New York appear normal, and...
Residence Inn Has New (Old) Owner
Lebanon — The Residence Inn on Centerra Parkway in Lebanon is going to get a $2 million renovation as the new owner — who is also the old owner — seeks to turn around the hotel’s operation, which has lagged in recent years. Norwich Partners, the Norwich-based hotel property investment firm headed by David Leatherwood, has bought back the 114-suite extended-stay hotel from Moody National REIT, a real estate investment trust, for about...
Marriott to Buy Starwood, Creating the World’s Largest Hotel Company
Marriott International, the Bethesda, Md.-based hotel behemoth, said Monday it has agreed to buy Starwood Hotels & Resorts in a $12.2 billion deal that would create the world’s largest hotel company. The combined hotelier would own or franchise 5,500 properties and be the only company to have more than 1 million hotel rooms. The cash and stock purchase marks the largest hotel deal since the private equity firm Blackstone Group...
