Different Strokes for Starwood and Hilton

The CEO of one is cutting sharply for a long slump, while the other's is out to gain share during a short crunch. Who's right?

On Sept. 19, Hilton Hotels (HLT ) CEO Stephen F. Bollenbach held a conference call with Wall Street analysts to update them on what his company was doing in the wake of the terrorist attacks. He said the sharp fall-off in travel that hoteliers were experiencing would last only two to three months. "I have to believe that the American people are not going to live in a hole in the ground," Bollenbach said.

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