A weak year for Starwood in China | chinadaily.com.cn
Executives of Starwood Hotels & Resorts Worldwide Inc hope an oversupply of rooms this year will quickly turn around and normalize in countries like China by 2011. Miguel Ko, chair and president of the US-based hotel giant's Asia-Pacific division, told China Business Weekly that the global economic downturn is partly to blame for the lack of business and international travel. Ko also cited the addition of new rooms built for the 2008 Olympics in Beijing and the Shanghai World Expo in 2010 contributing to the oversupply in China.
