Profits fall for Starwood.

Unlike the news of increased revenues for Cendant in our blog yesterday, another large timeshare developer has reported a decrease in earning:

Starwood said today third-quarter profit dropped 64 percent to $39 million, or 17 cents a share, from $107 million, or 50 cents, a year earlier because of tax expenses. Revenue rose 12 percent to $1.5 billion. The company increased its profit outlook.

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