Starwood No. American Hotel Occupancy at Record, CEO Says

Starwood Hotels & Resorts Inc.’s North American hotel occupancies are at a record, giving the owner of the Sheraton and W brands greater ability than ever to raise rates in the region, Chief Executive Officer Frits van Paasschen said.

“There is a shortage of high-end hotels in the U.S.,” he said today in a Bloomberg Television interview with Erik Schatzker and Stephanie Ruhle at the World Economic Forum in Davos, Switzerland. “We have more pricing power today than we’ve ever had before.”