Starwood Hotels (HOT) Raises Quarterly Dividend 7.1% to $0.375; 2.1% Yield
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Starwood Hotels (HOT) Tops Q4 EPS by 21c
February 10, 2015 7:04 AM ESTStarwood 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
Starwood Hotels (HOT) to Spin-Off Vacation Ownership Business
February 10, 2015 7:02 AM ESTStarwood 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
