Why the Chinese are going after Starwood Hotels

Sheraton, Westin and St. Regis are some of the most iconic American hotel brands, however, they may soon get a new Chinese owner. At least three Chinese companies, including sovereign wealth fund China Investment Corp., HNA Group (parent of Hainan Airlines ), and Shanghai Jin Jiang International Hotels, are currently competing to get the approval from the central Chinese government to bid for Starwood Hotels and Resorts Worldwide, which manages Sheratons and Westins around the globe with a market cap of $12.6 billion currently. This could be the largest-ever Chinese acquisition in the U.S. The full article could be read on Forbes here.