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<p>NY (AP) - A fight for control of the Starwood hotel chain is usually under way following a $14 billion buyout offer Monday from a consortium led by China's Anbang Insurance coverage Group. <br /><br />Anbang, which remains largely unknown to most Americans, has quickly positioned itself to become a player within the U. S. hotel industry, acquiring marquee properties. <br /><br />It made a splash in the fall of 2014 when it bought New York's Waldorf Astoria for almost $2 billion. And days ago, it cut a $6. 5 billion deal intended for Strategic Hotels &amp; Resorts Incorporation., which owns tony properties such as the Westin St . Francis in Bay area, JW Marriott Essex House in New York and Hotel Del Coronado in San Diego. <br /><br />Strategic also possessed five different Four Seasons resorts, two Ritz Carltons and six other luxury properties. <br />FILE -- This July 25, 2011, file photo, shows the Sheraton Fortification Lauderdale Beach Hotel, a member of the Starwood Hotels and Resorts team, in Fort Lauderdale, Fla. A fight for control of the Starwood resort chain is under way after a buyout offer from a consortium brought by China�s Anbang Insurance Group. <br /><br />Starwood Hotels &amp; Resorts Worldwide Inc. said Monday, March fourteen, 2016, that it still favors the particular bid from Marriott, but that it�s looking at the latest bid. (AP Photo/Wilfredo Lee, File)<br />Now it is heading toe-to-toe with U. S. resort giant Marriott International Inc., which said late last year that it might buy Starwood, the owner of Sheraton, Westin and St . Regis hotels, within a deal worth $12. 2 billion. That acquisition would create the particular world's largest hotel chain with 5, 500 properties and more compared to 1 . 1 million rooms around the world. <br /><br />Such scale would give the mixed company pricing power when negotiating commissions with online travel firms such as Expedia and Priceline, along with help it land more corporate traveling contracts. <br />The next-largest hotel firm is Hilton Worldwide with four, 500 properties and about 735, 1000 rooms. <br />Marriott and Starwood -- like other hotel chains&#160;: own very few individual hotels. Instead they manage or franchise their brands to hundreds of individual owners, often real estate development companies. These individual hotel owners are responsible for establishing nightly room rates. <br /><br />It is not uncommon for a developer to own a Marriott, Hilton, Hyatt and Sheraton in the same city. That's how Strategic, for instance, owned hotels under the Westin, JW Marriott, Ritz Carlton, Four Seasons and InterContinental brand names. <br />Starwood Hotels &amp; Resorts Globally Inc. said Monday that it nevertheless favors the Marriott deal, but that it's looking at the latest bid. <br /><br />Company shares jumped almost 7 percent to a new high for the year. <br />The offer from the Chinese group includes $76 per Starwood share and Interval Leisure Group stock currently highly valued at about $5. 50 per Starwood share. Starwood said that there are still "a number of matters" that need to be exercised in the group's proposal. <br /><br />Asian businesses have been acquiring U. S. qualities because it is a relatively safe place to park money, particularly with signs of decreasing economic growth in China. <br />Marriott, based in Bethesda, Maryland, said Mon that it stands behind its provide. Shareholders of Marriott and Starwood are expected to vote on that will deal on March 28. When Starwood ends its agreement with Marriott or changes or withdraws its recommendation for shareholders to vote in favor of the Marriott deal, Starwood would have to pay a $400 million termination fee. <br /><br /><br />Starwood basically put itself up for sale last 04. The company has struggled to grow as soon as its rivals, particularly in "limited service hotels, " smaller qualities which don't have restaurants or banquet halls. They are often located on the side from the highway, near airports or within suburban office parks. <br /><br />The handle Marriott would help fill in a lot of those blank spots on the map where Marriott often has its Courtyard and Fairfield Inn brands. <br />However, outside the U. S. Starwood continues to be very active in growing the brand, especially in luxury hotels and in untapped markets such as China, India and the Middle East. For instance, after New York, the city with the most Starwood hotels can be Dubai. <br /><br />The deal making provides the U. S. hotel industry comes off its best 12 months in history. The percent of hotel rooms occupied and the average night area rate were both at all-time highs in 2015. Right after Starwood and Marriott announced plans in order to merge, French hotel chain Accor announced in December that it was buying the mother or father company of the Fairmont, Raffles and Swissotel hotel brands for $2. 9 billion. <br /><br />Starwood, based in Stamford, Connecticut, has almost 1, three hundred properties in about 100 nations. Its shares jumped more than seven percent in Monday before the starting bell If you adored this article and you would such as to receive even more details regarding DISCOOUNTS HOTELS kindly visit our own site. . </p> <!-- NewPP limit report Cached time: 20160525045049 Cache expiry: 604800 Dynamic content: false CPU time usage: 0.019 seconds Real time usage: 0.021 seconds Preprocessor visited node count: 1/1000000 Preprocessor generated node count: 4/1000000 Post‐expand include size: 0/2097152 bytes Template argument size: 0/2097152 bytes Highest expansion depth: 1/40 Expensive parser function count: 0/100 --> <!-- Transclusion expansion time report (%,ms,calls,template) 100.00% 0.000 1 - -total -->