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 •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.