Hyatt Hotels in talks to acquire Starwood Hotels

According to Reuters, Hyatt Hotels is in discussions to acquire Starwood Hotels and Resorts in a deal that would see Hyatt's management retaining control of the combined company

US-based group Starwood Hotels is valued at around £8bn while Hyatt has a valuation of about £4.72bn.

The Wall Street Journal reported on Tuesday that a trio of Chinese companies are consulting the Chinese government on a possible bid for the hotel group.

Starwood currently operate 11 hotels in the UK - including the Sheraton Grand in Edinburgh (pictured), with two new openings planned for London in 2017.