Starwood Sees Annual EPS Growth 35%-42%
WHITE PLAINS, New York (
) --
Starwood Hotels
(HOT)
said Wednesday it expects annual per-share earnings growth of 35% to 42% through 2013.
Starwood, in a press release, said it also expects earnings before interest, taxes, depreciation and amortization, to increase 14% to 18% a year for the next three years. Excess cash flow will come in at $1.7 billion to $2.2 billion over the same three years, the company said.
Starwood issued the press release prior to a meeting with analysts and investors in New York later Wednesday.
The company's forecasts assume a normal cyclical recovery with annual worldwide revenue per available room increases of 7% to 9% through 2013.
The hotel company said it is "well-positioned to take advantage of the robust RevPar growth occurring in emerging markets."
Starwood also confirmed its current full-year 2010 guidance.
-- Written by Joseph Woelfel
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