Is Starwood Capital eyeing Whitbread Plc?
US real estate investment firm Starwood Capital is reportedly in talks with advisers to launch a bid worth $5.5 billion for UK leisure group Whitbread Plc. Investment bank JP Morgan is believed to be advising Starwood on its approach, which follows months of speculation about Whitbread’s future. “Starwood, which has a reputation for being highly acquisitive, has been involved in several recent property auctions, including De Vere Hotels, where it lost out to Richard Balfour-Lynn’s Alternative Hotel Group. It has long been seen as a potential suitor for Whitbread because of its experience running France’s budget hotel chain, Societe du Louvre,” according to thisismoney.co.uk. “The talks will reignite fierce interest over Whitbread’s future. The City was rife with rumours last year that a private equity bidder was circling with plans to break up the historic group.” Analyst Richard Carter at stockbroker Numis reportedly said: “Whitbread’s businesses are worth far more individually than t
