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Starwood Q2 results

STARWOOD Hotels & Resorts Worldwide has reported a 12% year-on-year drop in revenue to US$291m in the second quarter of 2016, with a pre-tax profit of US$297 million. In releasing its Q2 2016 financial results yesterday, Starwood said full year owned earnings have been negatively impacted by approx US$46 million due to asset sales in 2015 and 2016. An additional negative impact of approximately US$20m is due to lost earnings from five hotels transferred to Interval Leisure Group, Starwood said. The group also warned ...

The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 27 Jul 16

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