Sunshine Insurance completed the acquisition of Sheraton Hotel in Sydney from Starwood Hotels & Resorts for $401m.

Sunshine Insurance, an insurance company, completed the acquisition of Sheraton Hotel in Sydney from Starwood Hotels & Resorts, a company that owns, operates, franchises and manage hotels and resorts, for $401m. The acquisition continues a number of major trends for China’s increasingly confident overseas investors which lately have favored both investments in Australia and the acquisition of hotel properties.