From Reuters
Starwood Hotels' Europe Expansion Crimped
Starwood Hotels and Resorts Worldwide's plans to expand in Europe through management and franchise deals has been slowed by a liquidity squeeze that has caused some hotel developers to put projects on ice, an executive said.

"Developers not having access to liquidity has slowed us down," United States-based Starwood's Regional Director for Northwest Europe, Michael Wale, told Reuters on Monday.

European property developers are facing higher funding costs as banks cut real estate lending in a bid to meet more stringent capital requirements. On November 4, Commerzbank (CBKG.DE), owner of property lender Eurohypo, said it was stopping all loans not linked to Germany or Poland. Click here for the full story.