Starwood Hotels (NYSE:HOT) Reports Loss, But Sees Provides Strong Outlook

Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT) jumped 7% to $37.90 after it lost $107 million, or 59 cents a share, in the period, compared to a year-earlier profit of $79 million, or 44 cents a share, in the same quarter of 2008.

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The firm took a pretax charge of $431 million in the latest quarter, including a pretax non-cash impairment charge of $362 million related to inventory, fixed assets and goodwill at Starwood Vacation Ownership.

Adjusted earnings from continuing operations were 51 cents a share.

Revenue fell 1.2% to $1.28 billion.

The average estimate of analysts polled by FactSet Research had been for the company to earn 22 cents a share on revenue of just under $1.2 billion.

The company also said it expects 2010 earnings of about 63 cents a share, excluding items. Analysts polled by FactSet were looking for 59 cents.

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