Starwood, Marriott Post Higher Profits

Starwood Hotels & Resorts Worldwide Inc. and Marriott International Inc. said their fourth-quarter earnings jumped as demand for rooms allowed them to raise rates. Starwood, the largest hotel chain with brands that include Sheraton and Westin, said its profit climbed fivefold to $279 million, or $1.40 a share, from $56 million, or 85 cents, a year earlier, and revenue was up fourfold at $1.24 billion. Analysts had lowered their estimates to $1.41 in December, after Starwood warned that the delayed opening of a new casino would hurt earnings. No. 2 Marriott, whose brands include Courtyard, Ritz-Carlton and Residence Inn, said its earnings rose 18% to $114 million, or 44 cents a share, a penny higher than estimates. Revenue grew 10% to $2.52 billion. Separately, CompUSA Inc.’s earnings dropped 54% in the fiscal second quarter to $15.6 million, or 17 cents a share, a penny higher than forecasts, as computer prices continued to decline. Revenue rose 22% to $1.78 billion, including sales from Computer City stores that the company continues to operate. Sales at stores open at least a year, which exclude the Computer City stores, fell 4.7%.