Posted 2/8/2013 - 12:07:38 AM
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STAMFORD, CT–Starwood Hotels & Resorts Worldwide reported that fourth quarter 2012 RevPAR increased 4.1%, while RevPAR in North America jumped 5.2%, compared to the same period in 2011.
During the quarter, the company signed 40 hotel management and franchise contracts, representing approximately 8,400 rooms, and opened 17 hotels and resorts with approximately 3,900 rooms. Meanwhile, the company completed the sale of hotels that generated proceeds of $275 million.
