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Starwood Hotels & Resorts Worldwide Inc. Message Board

  • bluecheese4u bluecheese4u Jul 26, 2012 5:09 PM Flag

    STARWOOD REPORTS SECOND QUARTER 2012 RESULTS

    STARWOOD REPORTS SECOND QUARTER 2012 RESULTS

    STAMFORD, Conn. (July 26, 2012) – Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today reported second quarter 2012 financial results.

    Second Quarter 2012 Highlights



    • Excluding special items, EPS from continuing operations was $0.70, including income from the St. Regis Bal Harbour residential project. Including special items, EPS from continuing operations was $0.66.




    • Adjusted EBITDA was $323 million, which included $35 million of EBITDA from the St. Regis Bal Harbour residential project, up 23.3% compared to 2011.




    • Excluding special items, income from continuing operations was $138 million, including income from the St. Regis Bal Harbour residential project. Including special items, income from continuing operations was $129 million.




    • Worldwide Systemwide REVPAR for Same-Store Hotels increased 6.9% in constant dollars (4.2% in actual dollars) compared to 2011. Systemwide REVPAR for Same-Store Hotels in North America increased 7.3% in constant dollars (6.8% in actual dollars).




    • Management fees, franchise fees and other income increased 10.4% compared to 2011.




    • Worldwide Same-Store Company-Operated gross operating profit margins increased approximately 150 basis points compared to 2011.




    • Worldwide REVPAR for Starwood branded Same-Store Owned Hotels increased 3.1% in constant dollars (decreased 0.4% in actual dollars) compared to 2011.




    • Margins at Starwood branded Same-Store Owned Hotels Worldwide increased approximately 140 basis points compared to 2011.




    • Earnings from Starwood’s vacation ownership and residential business increased approximately $41 million compared to 2011, including $35 million of earnings from the St. Regis Bal Harbour residential project.




    • During the quarter, the Company signed 34 hotel management and franchise contracts, representing approximately 8,300 rooms, and opened 14 hotels and resorts with approximately 2,700 rooms.


    http://www.sec.gov/Archives/edgar/data/316206/000119312512315489/d384129dex991.htm

 
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