Starwood Hotels & Resorts could be tempted by buyout offers following the resignation of Chief Executive Steven Heyer under pressure from the company's board of directors.

Starwood Hotels & Resorts could be tempted by buyout offers following the resignation of Chief Executive Steven Heyer under pressure from the company's board of directors.

The company lost confidence in Heyer's management style and forced him to resign. While it's unclear what Heyer's position was on a buyout, his sudden departure and the lack of an immediate permanent replacement may increase the appeal of a buyout. Chairman Bruce Duncan was named interim CEO until the board finds a permanent replacement.

Private equity firms have already been on buying spree and travel-related companies have been on their shopping list. A Starwood buyout has been expected, but according to Robert LaFleur of Susquehanna Financial Group, it's more likely now.

Starwood has substantial real estate assets which could be spun off to pay down debt, and it has relatively little debt on its balance sheet, already making the owner of St. Regis, Westin and Sheraton hotel chains attractive to private equity firms.

To read more about this article, go to Reuters.com

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