URGENT-Starwood plans to hold costs are current levels-CFO

NEW YORK Oct 1 (Reuters) - Starwood Hotels & Resorts' (HOT.N) chief financial officer said on Thursday that the hotel operator intends to hold costs at current levels to the extent it can, even when a recovery emerges.

CFO Vasant Prabhu said the company has made "very deep" cost cuts and has cut 30 percent of its general and administrative costs.

Prabhu said at a conference that the company is looking to securitize more of its receivables and added the company does not plan to invest "a lot of money" in the vacation ownership business. (Reporting by Deepa Seetharaman, editing by Leslie Gevirtz)