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.

Marriott International will buy Sheraton owner Starwood Hotels & Resorts Worldwide in a $12.2bn (€11.4bn) deal to create the world’s largest hotel chain.

The company that operates the five-star Shelbourne Hotel in Dublin last year increased its operating profits by 13.5% to €37,117.

The stars of the RTÉ show The Shelbourne last year helped the company that manages the five-star Dublin hotel return to profit.

Pre-tax losses at the company that manages the five-star Renaissance Shelbourne hotel last year almost tripled to €301,122.

Pre-tax losses at the company that manages the five-star Shelbourne Hotel in Dublin narrowed by 98% to €104,282 last year.

PRE-TAX losses at the Shelbourne Hotel in Dublin narrowed to over €900,000 in 2010, new figures show.

PRE-tax losses at the company that manages the luxurious five-star Shelbourne Hotel in Dublin increased threefold to €7.6 million last year, new accounts show.

THE five-star Shelbourne Hotel in Dublin made a pre-tax loss of €156 million in 2008 after the value of the property was written down by €155m.

THE company that operates the five-star Shelbourne hotel in Dublin last year recorded pre-tax losses of €2.89 million, new accounts show.

HOTEL giant Marriott has dropped its legal claim that a woman raped in front of her children at gunpoint was careless and partly to blame, following a storm of protest.

THE owners of the Shelbourne Hotel believe the landmark five-star Dublin hotel is being “seriously mismanaged” by an arm of the Marriott International hotel group and wants to terminate the management agreement, the Commercial Court has heard.

ALMOST 400 jobs are to be created in Cork and Carlow in the hotel and pharmaceutical sectors.

Taoiseach Brian Cowen today insisted Ireland must continue to attract foreign investment, as he welcomed 390 jobs to the south and south-east regions.

One of London’s best-appointed hotels was sold today as part of a £1.1bn (€1.6bn) transaction involving 47 Marriott sites.

The Dow Jones industrial average scored its third record high close in a row today, rising modestly on better than expected retail sales and upbeat jobless claims figures.

Wall Street’s momentum sagged today, leaving the major indexes mixed after investors’ enthusiasm over a six-year low in unemployment claims and strong corporate earnings waned in the face of longer-term economic worries.

Leisure group Whitbread said today that it was giving up control of its Marriott UK hotels in a deal that will raise at least £1bn (€1.43bn) over two years.

Leisure group Whitbread surprised the City today by confirming it was in talks to sell some or all of its 52 upmarket Marriott hotels in the UK.

US investors cautiously bid stocks narrowly higher today, cheered by a recovering dollar and moderating oil prices.

Investors sent US stocks sharply lower today as oil prices continued their climb higher and new questions about the safety of arthritis drugs hit pharmaceutical stocks.

US stocks enjoyed a late rally today to finish higher despite a new record price for oil and gloomy third-quarter outlooks from several companies.

Stocks chalked up modest gains today in unusually light trading before Federal Reserve Chairman Alan Greenspan’s congressional testimony.

An Irish firm is helping finance a potential £157m (€228m) bid to take UK chain Jarvis Hotels back into private ownership.

A disappointing outlook from AOL Time Warner put investors in the United states on the defensive today, prompting them to question the strength of other big companies and bid stocks sharply lower.

A jetliner crash in New York today gave Wall Street a sharp reminder that more terrorist attacks are possible and prompted shaken investors to refrain from any major moves.