Starwood Hotels & Resorts Worldwide Inc., owner of the St. Regis and W luxury brands, reported a third-quarter loss after a $55 million charge related mainly to the sale of a hotel.
The net loss was $6 million, or 3 cents a share, compared with net income of $40 million, or 22 cents, a year earlier, the White Plains, New York-based company said in a statement today. Income from continuing operations, excluding one-time items, climbed to $47 million, or 25 cents a share, from $25 million, or 14 cents. That beat projections of 22 cents, the average estimate of 23 analysts in a Bloomberg survey.
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