Hotel room demand may signal upturn

New York: Starwood Hotels & Resorts Worldwide chief executive Frits van Paasschen said increased demand for hotel rooms in New York City may signal the US is beginning to emerge from the recession.

“New York is a good leading indicator because it’s such a crossroad of so many places,” Mr Van Paasschen said.

New York’s hotel occupancy rate was the highest in the year through August among the top 25 US markets, according to Smith Travel Research.