Starwood Hotels raises 2013 outlook after 12% growth in earnings
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Starwood Hotels raises 2013 outlook after 12% growth in earnings

Starwood Hotels raises 2013 outlook after 12% growth in earnings

Starwood Hotels & Resorts Worldwide Inc. has reported a 12% increase in its quarterly earnings and raised its 2013 earnings forecast, as a rebound in business travel fills its rooms, Reuters has reported. Second-quarter net income from continuing operations rose to $137m from $122m a year earlier. Starwood, which owns the Sheraton, Westin, W and Le Meridien brands, said occupancy at its hotels in North America in the second quarter reached 76%, the highest ever. Starwood has been expanding in Asia and Middle East where demand is also growing. The company raised its full-year adjusted earnings forecast to $2.81-$2.88 per share from its earlier forecast of $2.75-$2.83 per share.

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