Starwood Hotels & Resorts reported a profit of $339m during the fourth quarter of 2010 compared with a loss of $107m during the corresponding period of 2009.

The US-based hotel group reported earnings of $206m from continuing operations during the quarter, compared with a loss of $186m a year ago.

Starwood’s revenue increased 7% to $1.34bn during the last quarter of 2010, up from $1.25bn in the same period of 2009.

Starwood reported an income of $475m during 2010 compared with $73m the previous year, while its revenue increased to $5bn in 2010 from $4.7bn during 2009.

During the quarter, the hotel group signed 37 hotel management and franchise contracts representing 8,000 rooms and opened 23 hotels comprising 5,700 rooms.