After seeing occupancies decline and rates decrease, hotels are now starting to see more demand as business travel picks up, the New York Times reported. Occupancy rates increased by close to 6 percent last year, according to the 2010 Hotel Horizons report by Colliers PKF Hospitality Research. However, average room rates were generally flat. Analysts say that hotel rates will begin rising again this year. “We still have a long way to go, but we’re seeing early signs that because of strong demand recovery in 2010, managers are beginning to move room rates,” said R. Mark Woodward, president of Colliers PKF Hospitality Research. [more]

Marc Holliday (left) and Frits Van Paasschen (right) made Crain’s list of 2008′s highest paid executives

Several real estate executives made Crain’s New York Business’ list of the city’s 100 highest paid CEOs in 2008. Marc Holliday, chief executive of SL Green Realty, made $9,101,000 in 2008, putting him in 42nd place on the list. Jay Sugarman of iStar Financial ranked 75th on the list with a 2008 salary of $5,582,000. Frits Van Paasschen of Starwood Hotels & Resorts Worldwide ranked 86th with a salary of $4,809,000. The highest paid executive, Peter Kraus of AllianceBernstein Holding, is not in real estate. He earned a salary of $52,538,400 in 2008. [more]