Barry Sternlicht

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Barry Sternlicht
Barry Sternlicht
Born27 11, 1960
BirthplaceNew York City, U.S.
NationalityAmerican
OccupationBusinessman, investor
TitleChairman and CEO, Starwood Capital Group
Chairman, Starwood Property Trust
Known forFounder of Starwood Capital Group, Starwood Hotels and Resorts Worldwide, and W Hotels
EducationBrown University (BS)
Harvard Business School (MBA)
Spouse(s)Mimi Reichert (m. 1980s; div. 2016)
AwardsCPE Executive of the Year
Golden Plate Award, American Academy of Achievement

Barry Stuart Sternlicht (born November 27, 1960) is an American billionaire businessman, investor, and real estate executive who serves as chairman and chief executive officer of Starwood Capital Group, a global private investment firm with more than $125 billion in assets under management.[1] He is also the chairman of Starwood Property Trust, a publicly traded real estate investment trust. Sternlicht founded Starwood Hotels and Resorts Worldwide and served as its chairman and CEO from 1995 to 2005, during which time he created the W Hotels brand, transforming the landscape of the boutique hotel industry.[2] Over a career spanning more than three decades, Sternlicht has built a reputation as one of the most prominent figures in global real estate and hospitality, executing landmark acquisitions including the purchases of Westin Hotels & Resorts and ITT Sheraton. His management style has been described as "intense and impetuous," and he has remained an outspoken voice on economic policy, real estate markets, and emerging technologies including artificial intelligence and blockchain-based asset tokenization.[3]

Early Life

Barry Stuart Sternlicht was born on November 27, 1960, in New York City.[4] He grew up in Stamford, Connecticut, where his family was based.[5] Sternlicht's father was a businessman, and the family environment helped cultivate his early interest in business and finance.[6]

Sternlicht has spoken publicly about his upbringing and the formative experiences that shaped his approach to real estate and investing. Growing up in the New York metropolitan area during the 1960s and 1970s, he was exposed to the dynamics of commercial real estate and urban development from an early age. His path from Stamford to the upper echelons of global finance would be shaped by an education at two of America's most prominent universities and an early career in real estate investment during the leveraged buyout era of the 1980s.

Education

Sternlicht attended Brown University in Providence, Rhode Island, where he earned a Bachelor of Science degree.[7] He subsequently attended Harvard Business School, where he earned a Master of Business Administration (MBA).[4] His time at Harvard proved formative for his career in real estate and finance, providing him with the analytical framework and professional network that would underpin his later ventures. Sternlicht later served as a trustee of Brown University, maintaining a connection to his undergraduate alma mater.[7]

Career

Early Career and Founding of Starwood Capital Group

After completing his MBA at Harvard Business School, Sternlicht entered the real estate investment industry. He co-founded Starwood Capital Group in 1991, along with Bob Faith, establishing the firm as a private investment vehicle focused on real estate and related assets.[8] The firm was founded during the aftermath of the savings and loan crisis and the early 1990s real estate downturn, a period that presented significant opportunities for investors willing to acquire distressed real estate assets at discounted prices.

Starwood Capital Group quickly grew its portfolio through strategic acquisitions during the depressed real estate market of the early 1990s. The firm's approach combined opportunistic investing with active management of acquired properties, a strategy that would become a hallmark of Sternlicht's career.

Starwood Hotels and Resorts

Sternlicht's most transformative early deal came in 1994, when Starwood Capital acquired Westin Hotels & Resorts. The acquisition, conducted in partnership with Goldman Sachs, marked the firm's entry into the hotel industry and signaled Sternlicht's ambitions beyond traditional real estate investment.[9]

Building on the Westin acquisition, Sternlicht established Starwood Hotels and Resorts Worldwide and assumed the roles of chairman and CEO in 1995. Under his leadership, the company embarked on an aggressive expansion strategy. In 1997, Starwood Hotels launched a hostile takeover bid for ITT Corporation, which owned the Sheraton hotel chain among other assets. The bid, valued in the billions of dollars, was one of the largest hostile takeover attempts in the lodging industry at the time.[10] Starwood ultimately prevailed, acquiring ITT and adding the Sheraton brand, along with St. Regis, The Luxury Collection, and other hotel brands to its portfolio. The deal transformed Starwood Hotels into one of the world's largest hotel companies virtually overnight.

Perhaps Sternlicht's most enduring contribution to the hospitality industry was the creation of the W Hotels brand. Launched in 1998, W Hotels represented a new concept in the hotel industry — a large-scale lifestyle hotel brand that brought boutique hotel sensibility to a major chain format. The W brand emphasized design, nightlife, and a youthful, fashion-forward aesthetic that contrasted sharply with the traditional luxury hotel model.[11] The success of W Hotels spawned imitators across the industry and is credited with popularizing the "lifestyle hotel" category that became a dominant trend in hospitality in the early 21st century.[2]

Under Sternlicht's leadership as chairman and CEO from 1995 to 2005, Starwood Hotels and Resorts grew into a global hospitality company operating thousands of properties across multiple continents. The company's portfolio of brands — including Westin, Sheraton, W, St. Regis, The Luxury Collection, and Four Points by Sheraton — encompassed the full spectrum of the hotel market from upper-midscale to ultra-luxury. In 2004, Sternlicht was named one of the best CEOs in America by Institutional Investor.[12]

Sternlicht stepped down as CEO of Starwood Hotels and Resorts in 2005, though the company continued to operate under the brand architecture he had built until its acquisition by Marriott International in 2016.[13]

Starwood Capital Group: Continued Growth

After departing the day-to-day leadership of Starwood Hotels, Sternlicht continued to lead Starwood Capital Group, which had grown into a diversified global investment firm. The firm expanded beyond traditional real estate into areas including energy, infrastructure, and financial services, while maintaining its core focus on real estate-related investments.

Starwood Capital Group's investment activities have spanned multiple asset classes and geographies. The firm has invested in residential developments, commercial office properties, retail centers, industrial assets, and hotels across the United States, Europe, Latin America, and Asia. By 2026, the firm managed more than $125 billion in assets.[1]

Sternlicht also oversaw the creation and public listing of Starwood Property Trust (NYSE: STWD), a real estate investment trust (REIT) focused on originating, acquiring, financing, and managing commercial mortgage loans, other commercial real estate debt investments, and commercial real estate properties. Sternlicht serves as chairman of the board of Starwood Property Trust.[8]

The Starwood brand has also been associated with other publicly traded entities, including Invitation Homes, a single-family rental REIT, and Tri Pointe Homes, a homebuilding company, both of which Sternlicht served on the board of directors.[4]

Views on Technology and Artificial Intelligence

In November 2025, Sternlicht made headlines for his candid remarks about the impact of artificial intelligence on the workforce. Speaking publicly, he stated that he would "have to" reduce the number of employees at Starwood Capital Group in favor of AI-driven solutions, describing the impact of AI on business as transformative and unavoidable.[3] The comments attracted significant attention as an example of a prominent business leader acknowledging the potential displacement effects of AI technology on white-collar employment.

Interest in Asset Tokenization

In February 2026, Sternlicht publicly stated that Starwood Capital Group was prepared to tokenize real-world assets, including real estate holdings, using blockchain technology. However, he indicated that existing U.S. regulatory frameworks were preventing the firm from proceeding with such plans.[1] Sternlicht's interest in tokenization reflected a broader trend among large asset managers exploring blockchain-based methods of fractionalizing and trading traditionally illiquid assets.[14]

Views on Economic Policy

Sternlicht has been an outspoken commentator on economic and fiscal policy. In February 2026, he appeared on CNBC's Closing Bell Overtime to discuss U.S. tariff policy, stating that "uncertainty is bad for business" and expressing concern about the effects of trade policy on the broader economy.[15]

Personal Life

Sternlicht was married to Mimi Reichert; the couple divorced in 2016.[16] He has resided in Miami Beach, Florida.[17]

Sternlicht has been involved in philanthropic activities, particularly in medical research. He has made gifts to support diabetes research at Harvard's Stem Cell Institute.[18] He has been associated with the Juvenile Diabetes Research Foundation's National Leadership Advocacy Program, reflecting a personal connection to the cause of diabetes research.[4]

In February 2026, news reports revealed that Sternlicht had attended a dinner at the Manhattan townhouse of Jeffrey Epstein in 2018. According to Department of Justice emails cited in the reports, the dinner was also attended by Woody Allen, Soon-Yi Previn, and attorney Kathy Ruemmler. A spokesperson for Sternlicht stated that he had left the dinner early.[17][19]

Recognition

Sternlicht has received several awards and honors over the course of his career. He was named Executive of the Year by Commercial Property Executive (CPE), one of the real estate industry's prominent trade publications.[20]

In 2004, Institutional Investor named Sternlicht one of the best CEOs in America, recognizing his leadership of Starwood Hotels and Resorts Worldwide during a period of rapid growth and brand development.[12]

Sternlicht has received the Golden Plate Award from the American Academy of Achievement, an honor given to individuals who have demonstrated exceptional accomplishment in their respective fields.[21]

He has served on numerous prominent boards, reflecting his standing in the business and philanthropic communities. These include the board of directors of the Estée Lauder Companies, The Business Council, the Real Estate Roundtable, and the Robin Hood Foundation.[22][23] He has also served on the board of the Dreamland Community Theatre in Nantucket.[24] He was a past director of the Pension Real Estate Association.[25]

Legacy

Barry Sternlicht's career has been defined by his role in reshaping the global hospitality industry and building one of the largest private real estate investment platforms in the world. His creation of the W Hotels brand in the late 1990s introduced the concept of the large-scale lifestyle hotel to the mainstream hospitality market, influencing hotel design, branding, and guest experience across the industry for decades that followed.[2][11]

The acquisitions of Westin and ITT Sheraton in the 1990s demonstrated Sternlicht's willingness to pursue large-scale, transformative deals, and established him as one of the most consequential figures in the modern hotel industry. The combined Starwood Hotels and Resorts portfolio that he assembled became the foundation for what was, at the time of its 2016 sale to Marriott International, one of the world's largest hotel companies.

Through Starwood Capital Group, Sternlicht expanded his influence beyond hospitality into the broader real estate and financial services sectors. The firm's growth to more than $125 billion in assets under management by 2026 places it among the largest private investment firms focused on real estate globally.[1] His willingness to comment publicly on topics ranging from AI's impact on the workforce to asset tokenization and U.S. trade policy has kept him a prominent voice in business and financial media.[3][15]

As a native of Stamford, Connecticut, and a product of Brown University and Harvard Business School, Sternlicht's trajectory from the early 1990s real estate downturn to the leadership of a global investment empire represents one of the notable entrepreneurial stories in American real estate and finance over the past three decades.[5][8]

References

  1. ↑ 1.0 1.1 1.2 1.3 "Real estate mogul Barry Sternlicht says his firm is ready to tokenize assets, but U.S. regulation blocks it".CoinDesk.2026-02-18.https://www.coindesk.com/business/2026/02/18/real-estate-mogul-barry-sternlicht-says-his-firm-is-ready-to-tokenize-assets-but-u-s-regulation-blocks-it.Retrieved 2026-02-24.
  2. ↑ 2.0 2.1 2.2 "In Starwood Hotels, Barry Sternlicht reprises his greatest role".HOTELSMag.com.2025-11-04.https://hotelsmag.com/news/in-starwood-hotels-barry-sternlicht-reprises-his-greatest-role/.Retrieved 2026-02-24.
  3. ↑ 3.0 3.1 3.2 "Real estate titan Barry Sternlicht says he will 'have to' drop employees in favor of AI".CNBC.2025-11-11.https://www.cnbc.com/2025/11/11/barry-sternlicht-says-he-will-drop-employees-in-favor-of-ai.html.Retrieved 2026-02-24.
  4. ↑ 4.0 4.1 4.2 4.3 "Barry Sternlicht".Forbes.https://www.forbes.com/profile/barry-sternlicht/.Retrieved 2026-02-24.
  5. ↑ 5.0 5.1 "Stamford Native, Chairman & CEO of Starwood Capital".National Multiple Sclerosis Society.https://www.nationalmssociety.org/Chapters/CTN/About-this-Chapter/News/Stamford-Native,-Chairman-CEO-of-Starwood-Capital.Retrieved 2026-02-24.
  6. ↑ "Barry Sternlicht profile".The New York Times.2010-05-30.https://www.nytimes.com/2010/05/30/business/30barry.html.Retrieved 2026-02-24.
  7. ↑ 7.0 7.1 "Brown University Leadership".Brown University.https://bulletin.brown.edu/leadership/.Retrieved 2026-02-24.
  8. ↑ 8.0 8.1 8.2 "Renaissance Man: As Starwood Capital Turns 20, Founder Barry Sternlicht Explores New Paths".Commercial Property Executive.https://www.cpexecutive.com/post/renaissance-man-as-starwood-capital-turns-20-founder-barry-sternlicht-explores-new-paths/.Retrieved 2026-02-24.
  9. ↑ "Westin Hotel Co. to Be Sold to Starwood and Goldman".The New York Times.1994-11-26.https://www.nytimes.com/1994/11/26/business/westin-hotel-co-to-be-sold-to-starwood-and-goldman.html.Retrieved 2026-02-24.
  10. ↑ "Starwood-ITT coverage".Los Angeles Times.1997-10-21.https://www.latimes.com/archives/la-xpm-1997-oct-21-fi-44942-story.html.Retrieved 2026-02-24.
  11. ↑ 11.0 11.1 "Barry Sternlicht".Interior Design.https://www.interiordesign.net/articles/6713-barry-sternlicht/.Retrieved 2026-02-24.
  12. ↑ 12.0 12.1 "The Best CEOs in America 2004".Institutional Investor.https://www.institutionalinvestor.com/article/b15136bkm7x7d6/the-best-ceos-in-america-2004.Retrieved 2026-02-24.
  13. ↑ "Starwood coverage".Chicago Tribune.2004-11-14.https://www.chicagotribune.com/news/ct-xpm-2004-11-14-0411130319-story.html.Retrieved 2026-02-24.
  14. ↑ "Barry Sternlicht Says U.S. Crypto Regulations Are Blocking Starwood's Real Estate Tokenization Plans".CryptoRank.2026-02-19.https://cryptorank.io/news/feed/b06fa-barry-sternlicht-says-u-s-crypto-regulations-are-blocking-starwoods-real-estate-tokenization-plans.Retrieved 2026-02-24.
  15. ↑ 15.0 15.1 "Starwood's Barry Sternlicht on US tariff policy: 'Uncertainty is bad for business'".MSN.2026-02-23.https://www.msn.com/en-us/money/news/starwood-s-barry-sternlicht-on-us-tariff-policy-uncertainty-is-bad-for-business/vi-AA1WVwA0?ocid=finance-verthp-feeds.Retrieved 2026-02-24.
  16. ↑ "What Good Is a $20 Million Mansion If You Can't Walk to Dinner".Bloomberg News.2016-09-14.https://www.bloomberg.com/news/articles/2016-09-14/what-good-is-a-20-million-mansion-if-you-can-t-walk-to-dinner.Retrieved 2026-02-24.
  17. ↑ 17.0 17.1 "Miami Beach Billionaire Barry Sternlicht Dined at Epstein's Home in 2018".Miami New Times.2026-02-18.https://www.miaminewtimes.com/news/miami-beach-billionaire-barry-sternlicht-dined-at-epsteins-home-in-2018-40524427/.Retrieved 2026-02-24.
  18. ↑ "Sternlicht Gift to Support Diabetes Research".Harvard Stem Cell Institute.https://hsci.harvard.edu/sternlicht-gift-support-diabetes-research.Retrieved 2026-02-24.
  19. ↑ "Miami Beach Mogul Barry Sternlicht Caught On Guest List For Epstein Townhouse Dinner".Hoodline.2026-02-19.https://hoodline.com/2026/02/miami-beach-mogul-barry-sternlicht-caught-on-guest-list-for-epstein-townhouse-dinner/.Retrieved 2026-02-24.
  20. ↑ "Sternlicht Named CPE Executive of the Year".Commercial Property Executive.https://www.cpexecutive.com/post/sternlicht-named-cpe-executive-of-the-year-3/.Retrieved 2026-02-24.
  21. ↑ "Golden Plate Awards – Business".American Academy of Achievement.https://achievement.org/our-history/golden-plate-awards/#business.Retrieved 2026-02-24.
  22. ↑ "About Us – Governance".Robin Hood Foundation.https://www.robinhood.org/about-us/governance/.Retrieved 2026-02-24.
  23. ↑ "Board of Directors".Real Estate Roundtable.https://www.rer.org/about-us/board-of-directors.Retrieved 2026-02-24.
  24. ↑ "Board of Directors".Nantucket Dreamland.https://www.nantucketdreamland.org/about/board-of-directors.Retrieved 2026-02-24.
  25. ↑ "Past Directors".Pension Real Estate Association.https://www.prea.org/about-prea/board/past-directors/.Retrieved 2026-02-24.

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