What a crazy world we live in. Many of the world’s leading economies are flat, depressed or worsening. Money is tight. Consumer spending muted. Yet luxury is the way forward for hotels, says Starwood, which is seeing good growth from its St Regis, Luxury Collection and W Hotels portfolio. “Rising wealth, global business demand and interest in new destinations are set to fuel the growth of luxury travel for some time,” Starwood CEO Fritz van Paasschen said when announcing the company’s strong second quarter results.
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