Earnings Preview: Starwood Hotels & Resorts

ASHLEY M. HEHER

CHICAGO (AP) — Starwood Hotels & Resorts Worldwide Inc. reports results for the third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Like others in the industry, Starwood Hotels & Resorts Worldwide Inc. has seen its revenue slump as both leisure and business travelers tighten their budgets and stick closer to home.

Through the first six months of the year, Starwood's revenue was nearly 24 percent lower than a year earlier.

The White Plains, N.Y.-based chain operates the Sheraton, W Hotels, Westin, St. Regis, Four Points, Aloft brands.

During the third quarter, Starwood agreed to sell the W San Francisco to an investment company for $90 million but will continue to manage the property under the W name.

Starwood also kicked off a campaign to highlight a $6 billion revitalization of its Sheraton brand by giving away free stays at 86 recently renovated locations in the U.S. and Canada.