Fire Weather Watch: The National Weather Service says dry air and strong winds will increase the risk of brush fires spreading in parts of the state. Read More

Local News

Stamford’s Starwood Hotels 3Q Profit Falls More Than 7%

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

STAMFORD, Conn. (AP) _ Starwood Hotels & Resorts Worldwide Inc. says its third-quarter earnings fell more than 7 percent from last year when a one-time gain helped results.

The company best known for hotel brands like Sheraton, Westin and St. Regis earned $157 million, or 81 cents per share, in the quarter that ended Sept. 30. That’s down from $170 million, or 87 cents per share, last year, when it booked a $23 million gain.

Its adjusted earnings excluding special items came to 71 cents per share. Analysts expected 63 cents per share.

Revenue rose more than 3 percent to $1.51 billion. Analysts forecast revenue of $1.48 billion.

Starwood, based in Stamford, Conn., has 1,169 properties in almost 100 countries.

(© Copyright 2013 The Associated Press. All Rights Reserved.)

View Comments
blog comments powered by Disqus