• Starwood reports loss on hotel sale

Starwood Hotels & Resorts reported a net loss of $6m for the third quarter, against a profit of $40m in the same period last year, as the result of a $55m charge related mainly to the sale of a hotel.

Revenue for the period rose by 9% to $1.26bn with adjusted Ebitda up 14.5% to $205m. Revpar for the period was up 10%, with the company forecasting a 7% to 9% increase in 2011 revpar.

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