|China syndrome hurts Starwood in Asia Pacific.|
Friday, 2nd November 2012
Source : Martin Kelly
Growth at Starwood Hotels & Resorts' 210 Asia Pacific properties slowed dramatically in three months to September 30.
A revenue per available room (revPAR) growing at 4.3% for the period compared with 9.3% for the previous quarter was recorded.
That regional slump is expected to continue and the company has cut its 2012 global revPAR forecasts as a result, citing a slowing China as a significant factor.