Who likes the Sheraton? (Raises hand). W Hotels? Sure. St. Regis? Definitely. Talk about icons in the hotel industry, and we’re not talking about the one-of-a-kind diamonds in the rough like the Hilton or Trump (sorry, Donald), but the ones you see everywhere. You have to imagine that there’s a real estate guru out of many major real estate players in the game responsible for such a franchise of gigantic proportions, and you’re correct.
His Name Is Barry Sternlicht, CEO of Starwood Capital
It just so happens that Barry Sternlicht in his bid to become the “King of Hotels,” (which wasn’t hard to do) as well as Hot +0.83% and Resorts Worldwide, he revolutionized the hospitality industry with hotels popping up like newborn rabbits given his hands-on approach to the marketing and expansion of such brands.
He, in fact, was directly responsible for the Westin “Heavenly Bed,” not only a luxury you’d find in those hotels but an additional revenue source of marketing for homeowners to even update their own homes, thereby dabbling into the residential real estate market for current homeowners interested in property values and ROI when selling homes. Smart move.
Luxury. Retail. Some of the finer details. That’s Barry Sternlicht to a tee, focusing on the minute, the stuff we don’t see. Like crystal manufacturer Baccarat, a purchase allowing him to feature such incredible crystal chandeliers in a hotel that it would remain a staple in the hospitality industry and make him a trendsetter.
It’s About Imagination. Innovation. And Growth.
And Barry Sternlicht epitomizes that in true form. Who knows what else he will have in store for us in the future as he continues to try and reinvent himself in this industry, whether it’s residential, construction, home design innovation, or the hotel industry. As far as real estate gurus go, Barry Sternlicht goes pretty darn far!