Thursday, August 19, 2010

 Prabhu: Multihotel deals are on the horizon; business travel is strong

Multihotel deals will resume when the credit markets start to loosen and the global economy is in full recovery mode, says Starwood Hotels & Resorts Chief Financial Officer Vasant Prabhu at the New York Stock Exchange, where he and other Starwood executives rang the closing bell Wednesday. Starwood's long-term plan is to sell its real estate assets and focus on management. Prabhu says the company is not in a rush to sell its assets and sales will occur if they deliver "good values on long-term basis." Meanwhile, business has been very good for the firm because corporate travel has been on the upswing, he says.

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