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Starwood Hotels & Resorts Worldwide Inc Lowers High End Of Prior FY 2012 EBITDA Guidance; Comments On FY, Q4 2012 REVPAR Guidance; Issues Q4 2102 EBITDA Guidance Below Analysts' Estimates


Thursday, 25 Oct 2012 06:00am EDT 

Starwood Hotels & Resorts Worldwide Inc announced that for fiscal 2012, including Bal Harbour, which is expected to contribute approximately $135 million of EBITDA, adjusted EBITDA is expected to be approximately $1.190 billion to $1.195 billion, Excluding Bal Harbour, adjusted EBITDA is expected to be approximately $1.055 billion to $1.060 billion. REVPAR increases at Same-Store Company-Operated Hotels Worldwide of 5% to 6% in constant dollars and REVPAR increases at Same-Store Owned Hotels Worldwide of 3% to 4% in constant dollars for fiscal 2012. Fiscal earnings are negatively impacted by approximately $10 million due to recent asset sales. For the fourth quarter of 2012, including Bal Harbour, which is expected to contribute approximately $10 million of EBITDA, adjusted EBITDA is expected to be approximately $295 million to $300 million and excluding Bal Harbour, adjusted EBITDA is expected to be approximately $285 million to $290 million. REVPAR increases at Same-Store Company-Operated Hotels Worldwide of 4% to 6% in constant dollars and REVPAR increases at Same-Store Company Owned Hotels Worldwide of 3% to 4% in constant dollars. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $1.185 billion for fiscal 2012; EBITDA of $312 million for the fourth quarter of 2012.