Starwood Hotels (HOT) Raises Quarterly Dividend 7.1% to $0.375; 2.1% Yield
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Go back to Starwood Hotels (HOT) Raises Quarterly Dividend 7.1% to $0.375; 2.1% Yield
February 10, 2015 7:04 AM EST
Starwood Hotels (NYSE: HOT) reported Q4 EPS of $0.97, $0.21 better than the analyst estimate of $0.76. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.53 billion.
Frits van Paasschen, CEO, said, We delivered another solid year of performance. Worldwide REVPAR was up nearly 6% in constant dollars, and both Adjusted EBITDA and EPS were ahead of our expectations. We posted another year of rising REVPAR index, a sign of the global strength of our brands and platform. We signed 175 deals for new hotels, our second best signing year in Starwoods history. Around... More
February 10, 2015 7:02 AM EST
Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to spin-off its vacation ownership business, Starwood Vacation Ownership (SVO), into a separate publicly traded company. In addition to accelerating Starwoods ongoing Asset Light transformation, the transaction will create a new pure-play vacation ownership company with a seasoned management team and a strong balance sheet to take advantage of increasing growth opportunities within the timeshare industry. The transaction, which is expected to be tax-free to Starwood shareholders, will be effected through a pro rata distribution of the new entitys stock to existing Starwood... More
