April 30, 2013 / 10:21 AM / in 5 years

Starwood Hotels profit rises 11 percent

April 30 (Reuters) - Starwood Hotels & Resorts Worldwide Inc , whose brands include Sheraton and Westin, reported an 11 percent rise in quarterly profit from continuing operations on increased revenue per available room (revPAR), particularly in North America.

“Tight supply is driving higher room rates in North America, and our footprint continues to expand in the growing economies,” Chief Executive Frits van Paasschen said in a statement.

Net income from continuing operations rose to $143 million, or 73 cents per share, from $129 million, or 65 cents per share, a year earlier. Excluding items, Starwood earned 76 cents per share.

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