$12.8b hotel offer 'to boost market share'

The acquisition of US hotel chain operator Starwood by Chinese insurance conglomerate Anbang Insurance Group, if successful, will increase the hotel group's global market share and ensure the continuity of its operation and brand, analysts said on Tuesday.

The consortium led by Anbang has offered $12.8 billion in cash for the hotel operator, compared with an earlier offer by Marriott of $12.2 billion.

If completed, the transaction will be the largest acquisition made by a Chinese company in the US, according to financial data provider Dealogic.