Starwood Hotels Q2 income falls, betting future on China expansion
Skift Take
Aloft & W hotel is where the growth is brandwise, and China's where it is betting its future on. Europe's dragging it down, so no wonder.
Starwood Hotels & Resorts Worldwide Inc. said Thursday that its second-quarter net income slipped 7 percent as charges including those to pay off debt early offset the impact of higher revenue.
Contrary some of its rivals, Starwood said its seeing strength overseas. It's confident in its planned China expansion and said it's filling rooms at a rapid clip that will allow for further increases in rates. Shares rose almost 4 percent in midday trading.
The company, which runs the Sheraton, Westin and other brands, reported net income of $122 million, or 62 cents per share, for
