- Excluding special items, EPS from continuing operations was $0.58. Including special items, EPS from continuing operations was $0.75.
- Adjusted EBITDA was $275 million, which included $12 million of EBITDA from the St. Regis Bal Harbour residential project.
- Excluding special items, income from continuing operations was $114 million. Including special items, income from continuing operations was $147 million.
- Worldwide Systemwide REVPAR for Same-Store Hotels increased 4.7% in constant dollars (1.3% in actual dollars) compared to 2011. Systemwide REVPAR for Same-Store Hotels in North America increased 5.3% in constant dollars (4.8% in actual dollars).
- Management fees, franchise fees and other income increased 8.4% compared to 2011.
- Worldwide Same-Store Company-Operated gross operating profit margins increased approximately 100 basis points compared to 2011.
- Worldwide REVPAR for Starwood branded Same-Store Owned Hotels increased 2.3% in constant dollars (decreased 2.2% in actual dollars) compared to 2011.
- Margins at Starwood branded Same-Store Owned Hotels Worldwide increased approximately 10 basis points compared to 2011.
- Earnings from Starwood’s vacation ownership and residential business increased approximately $19 million compared to 2011, including $12 million of earnings from the St. Regis Bal Harbour residential project.
- During the quarter, the Company signed 25 hotel management and franchise contracts, representing approximately 4,800 rooms, and opened 20 hotels and resorts with approximately 6,500 rooms.
- Starwood’s Board of Directors has declared the Company’s annual cash dividend of $1.25 per share, an increase of 150% from the prior year.
- On October 24, 2012, the Company completed a securitization involving the issuance of $165.7 million of fixed rate notes. Starwood is contributing approximately $174.4 million in timeshare mortgages resulting in an advance rate of 95% with an effective note yield of 2.02%.
Starwood Reports Third Quarter 2012 Results And Declares Annual Dividend Of $1.25 Per Share
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