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Starwood Reports 83 Percent Jump in Quarterly Profit

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today reported fourth quarter 2014 financial results.
“In 2014, we returned $2.4 billion to shareholders through our dividends and stock repurchases. We were able to deliver this amount by reaching our long-term target leverage, with cash flow from operations, and asset sales. During the year, we sold eight hotels for gross proceeds of over $800 million.”

Fourth Quarter 2014 Highlights

  • Excluding special items, EPS from continuing operations was $0.97. Including special items, EPS from continuing operations was $1.40.Adjusted EBITDA was $335million.
  • Excluding special items, income from continuing operations was $171million. Including special items, income from continuing operations was $245million.

  • Worldwide Systemwide REVPAR for Same-Store Hotels increased 4.4% in constant dollars (2.3% in actual dollars) compared to 2013. Systemwide REVPAR for Same-Store Hotels in North America increased 5.8% in constant dollars (5.1% in actual dollars).
  • Management fees, franchise fees and other income increased 10.9% compared to 2013. Core fees (total management and franchise fees) increased 3.7% compared to 2013.
source:http://www.hotelnewsresource.com/article82061.html