(Reuters) The chief executive of Starwood Hotels & Resorts Worldwide said oil prices would have to rise "pretty significantly" from current levels to put a dent in hotel demand. Frits Van Paasschen said the current increase in oil prices reflects a U.S. and global economy that is gaining speed, a factor that bodes well overall for hotels. Starwood caters to higher-end customers with brands that include Sheraton, W and Westin. Oil prices rose on Friday, with Brent crude moving above $125 a barrel, as Iran oil supply worries and a weakening of the dollar on lesser chances of U.S. monetary policy tightening improved investor risk appetite for commodities. Van Paasschen said he wasn't overly concerned about oil price levels at the current time.
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