Skift Power Rankings: Barry Sternlicht

Key Points

• Founded Starwood Capital Group in 1991, growing assets from $20 million to over $115 billion.
• Key acquisitions include Westin Hotel Company and ITT Corp, leading to W Hotels chain.
• Emphasizes local culture, sustainability, and social responsibility in hospitality ventures.

Summary

Barry Sternlicht founded Starwood Capital Group in 1991 with $20 million in assets, growing it to manage over $115 billion. Key milestones include the acquisition of the Westin Hotel Company in 1995 and ITT Corp in 1998, leading to the creation of the W Hotels chain. Sternlicht emphasizes local culture in his hotel designs and has expanded into various sectors, including outdoor stays and impact investing. He also advocates for affordable housing and zoning reforms, and co-owns the sustainability-themed '1 Hotels' brand. Sternlicht's background in arts and business has influenced his contemporary aesthetic in hospitality.