Following his remarks, Lalia Rach, the associate dean of the Preston Robert Tisch Center of Hospitality, Tourism and Sports Management at NYU, introduced the heavy-hitting panel of executives making up "The CEOs Check In." She noted the panelists represented "four companies; 30 hotel brands; 12,000 properties in 80 countries and employ more than half-a-million people."

Marilyn Carlson Nelson opened up the session with an A-to-Z list of the challenges the industry is currently facing, including everything from war, red alerts and chemical weapons to Hotels.com, Tom Ridge and fatty foods. Despite the decline in travel, her company--which includes the Radisson, Country Inns and Suites, and TGI Friday brands--is still "growing dramatically and optimistic."

She stated the corporation's continued expansion in Asia has been undeterred by the existing SARs outbreaks. "We haven't changed our long-term goals, but we respect that the timing right now might cause set-backs," she said.

Currently, Radisson is in 66 countries, and Country Inns and Suites is making a major push in Russia with 50 new hotels in the pipeline.

Steve Bollenbach differed in his approach going forward, explaining Hilton "is not looking for additional acquisitions right now. We're shopping, but only for bargains… We already have what we need to compete."

He was also quick to shoot down Rach's question alluding to the possible break-up of Six Continents and whether Hilton might be interested in piece--or a new brand. "That deal won't get done because the market is properly pricing the portfolio," he said, explaining it doesn't represent a bargain for Hilton.

Henry Silverman also vetoed the notion that Cendant might be eying 6C's Holiday Inn chain, claiming the Days Inn product is more than enough for his corporation.

He explained that Cendant is currently focusing on paying down debt. "The most risk free thing to do right now is shrink capital and buy back stock," he stated, noting the company has been buying hundreds of millions of dollars of shares recently.

Wrapping up the panel, was Bill Marriott who echoed Carlson Nelson's earlier statement. Noting Marriott's continued expansion in Asia, he explained he too was undeterred by SARs. In fact, international growth is a primary focus for the company right now.

Marriott's first joint venture hotel with luxury retailer Bulgari opens in Milan, Italy in March. The small high-end property, with less than 100 rooms, will come on-line with rates exceeding $500 per night, he said. The brand, which will be operated by Marriott's Ritz-Carlton chain, is expected to add one new property a year.

Overall, Marriott plans to add 25,000 new rooms to its portfolio this year, with a goal of 50,000 new rooms over the next three years. He said half of the properties will be full-service hotels, and of those half will be located overseas.