Starwood CEO: Rising New York hotel occupancy may point to recovery

10/2/2009 | Bloomberg

The New York hotel occupancy rate hit a year-to-date high in August, lodging analysis firm Smith Travel Research said in a report. Frits van Paasschen, chief executive of Starwood Hotels & Resorts, said that could be a sign the U.S. is moving broadly out of its recession. "New York is a good leading indicator because it's such a crossroads of so many places," he said.

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