Starwood Q4 RevPAR Up 4.1%
Friday February 8th, 2013 - 12:07AM X
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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.
Tags: • Hospitality • Quarterly Results •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.