CEO: Starwood Hotels could be sold by year end

Back in April, Starwood announced its board was exploring strategic options for the hotel company.

First the Wall Street Journal reported that three Chinese companies were seeking government approval to place bids for Starwood.

A merger of the two would help the new company better compete with hotel giants Marriott International, Hilton Worldwide and Intercontinental Hotels Group, all which have more than 4,000 properties and roughly 700,000 rooms each.