Barry Sternlicht

Barry Sternlicht: Career Highlights

Sternlicht's career in the real estate industry began after graduating from Harvard Business School when he joined JMB Realty, a real estate investment company in Chicago. However, he was laid off during the savings and loan crisis and early 1990s recession.

In 1991, Sternlicht co-founded Starwood Capital Group with Bob Faith. They initially focused on purchasing apartment buildings sold by the Resolution Trust Corporation. Sternlicht raised $20 million from prominent families to fund these acquisitions. In 1993, he contributed his apartment portfolio to Sam Zell's Equity Residential in exchange for a 20% stake in the company.

Sternlicht's major breakthrough came in 1994 when he acquired Westin Hotels & Resorts in a $561 million transaction with Goldman Sachs. This acquisition marked the beginning of Starwood Hotels and Resorts Worldwide, with Sternlicht serving as its Chairman and CEO from 1995 to 2005.

Under Sternlicht's leadership, Starwood Hotels and Resorts continued to grow through strategic acquisitions. In January 1995, the company acquired Hotel Investors Trust, making Sternlicht its CEO. In 1997, Starwood made a bold move by acquiring Sheraton Hotels and Resorts for $13.3 billion, surpassing Hilton Worldwide's bid.

Sternlicht is credited with introducing innovative concepts to the hospitality industry.

He launched W Hotels, a trendy and design-forward brand, and introduced the Westin Heavenly Bed, which became a signature feature of Westin Hotels.

Beyond his work with Starwood Hotels and Resorts, Sternlicht also engages in venture investments through his family office, JAWS Capital. He has participated in several special purpose acquisition companies (SPACs).