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Actionable news in HOT: STARWOOD HOTELS & RESORTS WORLDWIDE Inc,

Starwood Profit Tops Views

Starwood Hotels Resorts Worldwide Inc. reported better-than-expected profit in the latest quarter as the company works to close its much-watched merger with Marriott International Inc. that almost fell apart amid a bidding war with a Chinese insurance firm.

Chief Executive Thomas Mangas said the company’s results were strong, “despite facing a tough macroeconomic environment and the distraction of a very public bidding war for our company.”

Though revenue fell slightly in the quarter, adjusted per-share earnings easily topped Wall Street expectations.

RevPar, a closely watched metric for the hotel industry, decreased 1.3% in comparable world-wide hotels and rose by 1% in constant currencies. In North...


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