NEW YORK (TheStreet) -- Starwood Hotels & Resorts  (HOT) stock is soaring by 6.36% to $79.57 in mid-morning trading on Wednesday, amid a potential buyout offer from Hyatt Hotels (H), a third quarter earnings beat and a sale of its Vacation Ownership business.

Hyatt Hotels is in talks to buy Starwood Hotels & Resorts in a cash and stock agreement that could close as soon as next week, sources told CNBC. Hyatt management would gain control of the combined companies. 

Additionally, this morning the hotel and leisure company reported 2015 third quarter earnings of 74 cents per share on revenue of $1.43 billion.

Analysts surveyed by Thomson Reuters forecast for earnings of 72 cents a share on revenue of $1.44 billion.

Further, Interval Leisure Group (IILG) announced it would buy Starwood's Vacation Ownership business for roughly $1.5 billion, according to a company statement this morning. The entity will then merge with Interval Leisure Group's Vistana business. 

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on Starwood saying: "Starwood was supposed to be a total dog. All dogs should hunt this well. I love the bid and it might not even be the last one."

Starwood Hotels is a holding of the Action Alerts PLUS Charitable Portfolio. 

Separately, TheStreet Ratings team rates STARWOOD HOTELS&RESORTS WRLD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

We rate STARWOOD HOTELS&RESORTS WRLD (HOT) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: HOT

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