Frist van Paasschen – CEO of Starwood Hotels:

On the hotel opportunity in India:

“To say that India today is under-hotel-ed relative to future demand is a massive understatement.  New York City alone has almost as many hotel rooms as the entire country.”

On the improving economy:

“Things certainly have changed since we last spoke in January.  As you may recall, rather than make predictions, we were looking at a range of scenarios for 2010.  Of the many scenarios we considered, what we see today is without a doubt the good case scenario.”

The important caveat:

“To borrow a phrase from Warren Buffett, we should be fearful when others are greedy.”