Starwood suffering severely in the first half 2009
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Starwood: Significant losses
White Plains, NY. In the fourth quarter 2008, all figures declined. Starwood Hotels & Resorts Worldwide published its annual report yesterday. The worldwide system-wide RevPar for same-store hotels decreased 12.1% compared to the fourth quarter of 2007. During the twelve months ended December 31, 2008, total company adjusted EBITDA was 1.157 billion USD compared to 1.356 billion USD in 2007. For the full year 2009 Starwood assumes a decline of 12% of RevPar at same-store company operated hotels worldwide. Adjusted EBITDA would be approximately USD875 million and EPS before special items would be approximately 1.10 USD.
Bad figures, thrive for expansion continues

Wiesbaden. The first quarterly figures do not augur well. In particular, the upper segment chains are struggling with massive declines in sales, but lower segment hotels do not come out completely unscathed either. The industry reacts towards the ill tidings with drastic saving measures. Nonetheless, the thrive for expansion is hardly dampened. A summary.