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Starwood to bid for Whitbread?
Starwood Capital, the US-based hotel group, is in talks with advisors regarding a £3bn (US$5.5bn, 4.4bn euro) takeover bid for UK leisure giant Whitbread, according to the Mail on Sunday.
JP Morgan are believed to be advising Starwood, which owns and operates nearly 1,000 hotels worldwide.
Whitbread, which recently disposed of 235 Beefeater and Brewers Fayre pubs for £497m, has not commented on the acquisition talks.
Whitbread’s brands include Costa Coffee, David Lloyd Leisure and Premier Travel Inns.
The Mail on Sunday also reported that Starwood is rumoured to be among the bidders for budget hotel chain Travelodge, being sold by private equity group Permira. Details: www.whitbread.co.uk