Starwood Hotels & Resorts Worldwide Inc., owner of the Sheraton and W brands, said fourth-quarter earnings declined as sales at its St. Regis Bal Harbour Resort in Florida weren’t repeated and hotel revenue fell.
Marriott International Inc., the owner of such brands as the Ritz-Carlton and Renaissance, reported fourth-quarter earnings that matched analyst estimates as leisure and business-group demand rose in North America.
Lew Wolff , co-owner of the Oakland Athletics baseball team, began acquiring luxury hotels in the 1990s, when they were considered a risky investment. Now he may be selling as rivals are buying properties.
Hilton Worldwide Holdings Inc., the world’s largest publicly traded hotel operator, said fourth- quarter revenue rose 13 percent in the company’s first earnings report after its initial public offering.