In other words, the climate for our business is not as bleak as the headlines would suggest. We live in a world where sentiment changes quickly. But we're convinced that long-term growth trends have not changed. Take Dubai as an example. It rebounded quickly after the crisis and has risen to become a leading global travel hub. That lies in the center of major new travel patterns, from China to Africa, and from Southeast Asia to Europe. And Europe itself is benefiting from more visitors, not just from the Middle East, but from Asia as well, not to mention Americans with their stronger dollars.We still hear is some talk in the press of a hard lending in China. We have seen a deceleration, but nothing precipitous. It appears to us that the slower growth has to do with upcoming government transition and excess supply in a few cities.
Starwood Hotels & Resorts Worldwide Management Discusses Q2 2012 Results - Earnings Call Transcript
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