Hotel Business Magazine, | The Newspaper For Lodging Decision Makers

Starwood Q4 RevPAR Up 4.1%

Friday February 8th, 2013 - 12:07AM

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.