UNITED STATES - AUGUST 24: Pedestrians walk outside a St. Regis hotel in New York, U.S., on Monday, Aug. 24, 2009. Luxury-hotel chains, the biggest losers in the lodging industry's decline, are giving up some of their hard-won stars to save money. Starwood Hotels & Resorts Worldwide Inc., the U.S. owner of luxury brands including St. Regis and W Hotels, will let some of its upscale hotels reduce their star ratings until the industry begins to recover, spokeswoman K.C. Kavanagh said. (Photo by Daniel Acker/Bloomberg via Getty Images)
