Starwood Hotels (HOT) is expected to report Q3 earnings before the market open on Thursday, October 25 with a conference call scheduled for 10:30 am ET. Analysts are looking for EPS of 53c on revenue of $1.48B. The consensus range is 50c-57c for EPS, and $1.42B-$1.66B for revenue, according to First Call. After reporting better-than-expected Q2 EPS, the company provided a Q3 EPS outlook of 50c-54c and FY12 EPS outlook of $2.49-$2.56, consensus $2.52. On its earnings conference call, the company said it expected RevPAR trends to remain stable in the near-term and that long-term grwoth trends have not changed. Starwood also commented that the climate for business wasn't as bleak as headlines suggested. During the quarter, Starwood announced plans to double its portfolio throughout Russia and the Commonwealth of Independent States over the next three years. Starwood was downgraded to Outperform from Strong Buy at Raymond James due to increasing macro and sector risks, and upgraded to Buy from Hold at Argus to reflect its aggressive growth strategy and continued recovery int he hotel industry.