Starwood profits rise in 2011
Starwood Hotels & Resorts has reported a 2.5% rise in net profits for 2011. The US-based hotel giant generated profits of US$489 million last year compared to US$477 million in 2010, while revenues increased 10.9% to US$5.62 billion.
The company’s average occupancy in 2011 was 68.0%, compared to 65.9% in 2010, while average daily rate (ADR) was up from US$159 to US$168. Global revenue per available room (revPAR) was US$115 last year, up 9.7% year-on-year.
The highest average revPAR level was achieved by the W Hotels brand at US$203, ahead of St Regis/Luxury Collection (US$201), Le Meridien (US$132), Westin (US$128), Sheraton (US$96), Four Points (US$77) and Aloft (US$68).
Read full story at TravelDailyAsia.com