Starwood Hotels and Resorts Worldwide yesterday agreed to a higher $13.6bn (€12bn) offer from Marriott International, a proposal that trumped a bid by China’s Anbang Insurance.

US hotel operator Starwood Hotels & Resorts Worldwide yesterday received a higher buyout offer from a consortium led by China’s Anbang Insurance Group that could derail Marriott International’s planned takeover of Starwood.