Posted 10/26/2012 - 12:01:55 AM
STAMFORD, CT–Starwood Hotels & Resorts Worldwide third-quarter 2012 RevPAR increased 4.7%, compared to the same period last year.
Management fees, franchise fees and other income increased 8.4%, compared to 2011. During the quarter, the company signed 25 hotel management and franchise contracts, representing approximately 4,800 rooms and and opened 20 hotels with approximately 6,500 rooms. In addition, the company had approximately 370 hotels in the active pipeline at the end of the quarter, representing approximately 95,000 rooms.