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August 1, 2011

Starwood Reports Q2 Results Rise

Starwood Hotels and Resorts has reported an increase in its 2011 second quarter (Q2) net income to $131m, compared with $114m in the same period of 2010. Net income for the first six months of 2011 stood at $159m against $144m for Q2 2010. The company's income from continuing

By cms admin

Starwood Hotels and Resorts has reported an increase in its 2011 second quarter (Q2) net income to $131m, compared with $114m in the same period of 2010.

Net income for the first six months of 2011 stood at $159m against $144m for Q2 2010.

The company’s income from continuing operations for Q2 2011 was $150m compared with $79m in the same period last year, while its income from continuing operations for the first six months increased to $179m compared with $109m a year ago.

During the second quarter of 2011, Starwood completed the sale of two wholly owned hotels and one consolidated joint venture hotel for $281m.

The company has also signed 22 hotel management and franchise contracts representing 5,900 rooms and opened 13 hotels and resorts with 2,900 rooms.

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