Starwood Hotels Reports Third-Quarter Outcomes

Starwood Hotels & Resorts Worldwide, Inc. reported EPS from continuing operations for the third quarter of 2006 of $0.71 compared to $0.18 in the third quarter of 2005.

Excluding special items, EPS from continuing operations was $0.68 for the third quarter of 2006 compared to $0.58 in the third quarter of 2005. On the other hand, effective income tax rate in the third quarter of 2006 was 21.2 percent.

Income from continuing operations reached $155 million in the third quarter of 2006 compared to $40 million in 2005. Excluding special items, which net to a $7 million benefit in 2006, income from continuing operations was $148 million for the third quarter of 2006 compared to $131 million in 2005.

“I am extremely pleased with our results for the third quarter. All of our business units are performing on all cylinders and we expect this strength to continue into 2007 and beyond,” said Starwood CEO Steven J. Heyer.