Starwood 4Q profit falls but adjusted earnings tops Street view, revenue misses

The Associated Press

FILE - In this Wednesday, July 31, 2013, file photo, a W Hotel is located in Times Square, in New York. The luxury hotel is owned by Starwood Hotels & Resorts Worldwide, who reports earnings on Thursday, Feb. 13, 2014. (AP Photo/Mark Lennihan)

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STAMFORD, Conn. (AP) — Starwood Hotels & Resorts Worldwide Inc.'s fourth-quarter net income fell 10 percent, hurt by some charges.

Adjusted earnings topped analyst' estimates, but its guidance for 2014 adjusted earnings was below Wall Street's view.

The Stamford, Conn., company, whose brands include Sheraton and St. Regis, earned $128 million, or 67 cents a share, for the period ended Dec. 31. That's down from $142 million, or 72 cents a share, earned during the same time last year.

Removing the charges and other items, earnings were 73 cents per share. Analysts surveyed by FactSet expected adjusted earnings of 70 cents per share.

Revenue dipped 1 percent to $1.51 billion from $1.53 billion. Analysts expected revenue of $1.52 billion.

Worldwide, systemwide revenue per available room for hotels open at least a year increased 5.3 percent.

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