Rise in oil prices isn't affecting hotel industry, Starwood CEO says

03/18/2012 | Reuters

The rise in oil prices reflects an improving economy worldwide and in the U.S., which would generally help rather than hinder the hotel industry, says Frits van Paasschen, CEO of Starwood Hotels & Resorts Worldwide. He says the increase in oil prices would have to be significant to affect hotel demand. "If oil prices were to go to unheard-of levels, that might be a concern. If they rise even from where they are today, I'm not concerned," van Paasschen said.

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