* Fourth-quarter rev $1.51 bln vs est $1.53 bln
* Adjusted earnings $0.73/share vs est $0.70
* RevPAR from Asia, excluding China, falls 3 pct
* Expects 1st-qtr earnings $0.53-$0.56/share vs est $0.63
Feb 13 Starwood Hotels & Resorts Worldwide Inc
reported fourth-quarter revenue below Wall Street's
expectations, partly due to lower occupancy and room rates in
Asia, excluding China, and forecast a weak profit for the
The owner of the Sheraton and Westin hotel chains said it
expects first-quarter profit of 53 cents to 56 cents per share.
The forecast range is well below the average analyst estimate of
63 cents per share, according to Thomson Reuters I/B/E/S.
Slow economic growth in Asia and an oversupply of new hotels
during the boom years of 2006 and 2007 have resulted in declines
in room and occupancy rates.
Starwood's revenue per available room (RevPAR) for hotels
open at least one year in Asia, excluding China, fell 3 percent
in the fourth quarter ended Dec. 31.
RevPAR is a metric of hotel health, calculated by
multiplying a hotel's average daily room rate by its occupancy
Total revenue fell 1.8 percent to $1.51 billion, missing the
average analyst estimate of $1.53 billion.
Net income fell to $128 million, or 67 cents per share, from
$142 million, or 72 cents per share, a year earlier.
Excluding items, Starwood earned 73 cents per share, above
the 70 cents per share analysts had expected.
The company's shares closed at $77.09 on the New York Stock
Exchange on Wednesday.
The stock has gained about 24 percent in the past 12 months,
outperforming the 21 percent rise in the Dow Jones U.S. Hotels