Starwood is making "good progress" as it relates to negotiated corporate rates, executive vice president and CFO Thomas Mangas said Tuesday during the company's third-quarter earnings call, although he declined to provide any further specifics. The company's average systemwide daily rate during the third quarter increased 3.4 percent year over year to $177.15, with quarterly ADR increasing in the Americas (5.2 percent) and Europe (4.5 percent) but declining in Asia/Pacific (0.4 percent) and Africa and the Middle East (4.9 percent). Global occupancy increased 2.8 percentage points year over year to 72.9 percent. During the quarter, the company reported that it signed 39 hotel management and franchise contracts, representing approximately 7,100 rooms, and opened 18 hotels and resorts with approximately 3,500 rooms. Net income was $109 million in the third quarter of 2014, compared with $157 million in the third quarter of 2013. Get the full story at Business Travel News and Travel Weekly