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!
Yes, the American Dream. Indeed. That’s one dream out of many, of course, and that dream is real estate. What else can be more American than that, and certainly there was a man from Morocco who thought he could make it happen, and lo and behold: he was correct! Mr. Joseph Chetrit stands as one of many in the current stratosphere of real estate moguls to present an influence of change, innovation and development from a real estate investment standpoint, and here’s why:
Joseph Chetrit and His Accomplishments
It’s interesting to know that Joseph Chetrit originally grew a family textile business after moving to the U.S. for a good 25 years. Business went well. He then caught the real estate bug and got involved in some of the most pivotal real estate deals to date — seemingly from osmosis! Maybe real estate was always in his blood….
Needless to say, the innate ability to buy up the properties and see the so-called “writing on the wall” turned out to be the winning factor, creatively repurposing such spaces and generating incredible returns to earn him his spot as a trendsetter, a standard in the real estate industry, particularly in the commercial field.
And he’s just one man…. Pretty remarkable. Most notably, though, Joseph Chetrit is known for his infamous purchase of the well-known Sears Tower in the city of Chi-Town, renaming the steel beast to ‘Willis Tower’ back in 2009. Yep. That was him who did that.
Just Reminding You: Morocco and Textiles. And Now a Big Name in Real Estate
Joseph Chetrit is a perfect example that it’s not necessarily about the credentials or even the experience. You have to have a sort of ‘knack,’ a skill and a street smart to really make it in the real estate business. Perhaps you’re thinking about getting into real estate investments? It would help to get in some research and learn from the best: why not learn from the likes of Joseph Chetrit?