Posted at 9:30 a.m., Thursday, August 2, 2007
Starwood says Maui project to begin in 2008 second half
Advertiser Staff
Starwood Hotels & Resorts Worldwide Inc. said it expects construction and sales of its next Maui project to begin in the second half of 2008 after experiencing some delays in entitlement and construction approvals.The company included the news about the Maui project in an announcing second-quarter income from continuing operations rose when special items were excluded. It said it earned $178 million on this basis from $169 million a year earlier.
Net income, including the items, was $145 million and compared to last year's second quarter income of $680 million. Starwood is the third-largest U.S. hotel company. It's brands include Sheraton, Westin, W and St. Regis.
Second-quarter profit fell less than analysts estimated as the company increased its 2007 forecast after raising room rates in the U.S. and Europe, Bloomberg News reported.
