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Starwood Quarterly Profit Plunges 81%

Stock quotes in this article: HOT , WYN  

Starwood Hotels & Resorts Worldwide(HOT Quote) reported an 81% plunge in first-quarter earnings on Thursday, but were able to meet analysts' expectations.

The company earned $6 million, or 3 cents a share, down from $32 million, or 17 cents, in the year-ago period.

Revenue declined 24% to $1.12 billion from $1.47 billion, while worldwide revenue per available room, or RevPar, sank 23.5%. ...

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