Procurement
Starwood during the next several years will continue "very aggressive" cost reductions, according to CFO Vasant Prabhu
, who noted plans to develop "substantial amounts of cash flow." Starwood Hotels & Resorts' deep cuts in sales force and vacation ownership will remain in place even if the economy fully recovers, Prabhu said during a Deutsche Bank Securities conference. "There is every indication that demand is coming, but back the mix of business is different and the rate is down," said Prabhu, noting that the next six weeks will be a critical as the company relies heavily on business travel.