Starwood Hotels & Resorts Worldwide (NYSE:HOT) is expected to report Q1 earnings before the market open on Thursday, April 29 with a conference call scheduled for 10:30 am ET.
Analysts are looking for a profit of 2c on revenue of $1.08B. The consensus range is (1c)-5c for EPS, and revenue of $1.04B-$1.15B, according to First Call. During the quarter, Crain's said that within the next three to four years the company will open 300 hotels, many overseas. In addition, Starwood said it's is on track to grow its portfolio in India 60% by 2013, and plans to double its Chinese properties to 100 hotels by 2012.
Stifel Nicolaus analyst Rod Petrik recently upgraded shares of Starwood to Buy from Hold, and says he believes that a recovery is "underway" in the lodging sector. He says RevPar is up 3.7% in the last 28 days. He believes Starwood will continue to be a "net seller" of real estate and notes that the company has "some of the best brands.