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Starwood reports first quarter 2014 results (United States)
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today reported first quarter 2014 financial results. |
Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on Friday 25 April 2014
First Quarter 2014 Highlights
- Excluding special items, EPS from continuing operations was $0.63. Including special items, EPS from continuing operations was $0.71.
- Adjusted EBITDA was $281 million.
- Excluding special items, income from continuing operations was $122 million. Including special items, income from continuing operations was $136 million.
- Worldwide Systemwide REVPAR for Same-Store Hotels increased 6.3% in constant dollars (5.0% in actual dollars) compared to 2013. Systemwide REVPAR for Same-Store Hotels in North America increased 7.1% in constant dollars (6.4% in actual dollars).
- Management fees, franchise fees and other income increased 14.3% compared to 2013.
- Worldwide Same-Store Company-Operated gross operating profit margins increased approximately 150 basis points compared to 2013.
- Worldwide REVPAR for Starwood Same-Store Owned Hotels increased 4.7% in constant dollars (2.9% in actual dollars) compared to 2013.
- Margins at Starwood Same-Store Owned Hotels Worldwide increased approximately 150 basis points compared to 2013.
- Earnings from Starwood’s vacation ownership and residential business decreased approximately $64 million compared to 2013, including a $48 million decrease in earnings from the St. Regis Bal Harbour residential project which is substantially sold out.
- During the quarter, the Company signed 28 hotel management and franchise contracts, representing approximately 6,000 rooms, and opened 10 hotels and resorts with approximately 1,900 rooms.
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