April 2016，Marriott International Inc successfully acquired Starwood Hotels after many twists and turns & Resorts Worldwide Inc），The world’s largest 188bet game group was born，One of the most eye-catching capital dramas in 2016。As an independent 188bet game group, Starwood has withdrawn from the stage of history，But its original creator，Starwood CapitalBut still making waves in real estate investment and 188bet game industry，All this with a legendary figure、“Father of Starwood”: Barry Sternlicht is inseparable。

This legend who has been involved in real estate investment and 188bet game industry for a quarter century believes: "Hotels must create a more unique experience，Otherwise it’s just a commodity。”

Because of its unique strategic vision and a series of pioneering initiatives for the development of the contemporary 188bet game industry，Barry Sternlicht hailed by Fortune magazine"The King of Hotels".

From the "golden boy" of real estate investment to the unemployed

188bet game has admired his father very much since he was a child，A man who fled Poland during World War II，Participated in the Czech guerrillas，Later obtained an engineering degree from the University of Brussels，The old man who moved across the ocean to the United States，A company he ran that produced disposable flashlights unfortunately encountered bankruptcy liquidation。When young 188bet game graduated from Brown University，When trying to enter a career on Wall Street，His father asked him a question:

"What do you want for the rest of your life，Are you just staring at a green screen？”

So，188bet game decided to continue his studies at Harvard Business School，After obtaining an MBA degree, he joined a real estate investment company in Chicago called JMB Reality，Started career in real estate。Soon he negotiated a series of lucrative business deals for the company，Including acquiring crisis developer Arivida from Disney。However，In the Great Depression of the American real estate market in the late 1980s ，An overseas investment led by 188bet game failed，Makes JMB lose 4.USD 200 million。29-year-old 188bet game became an “unemployed vagrant”。

The “188bet game Empire” created by Starwood Capital

Although Blackstone once extended an olive branch to him，Invite him to join and take charge of the company’s real estate investment business。But，Finally 188bet game decided to set up his own investment company，And start raising start-up funds。Right now，188bet game’s friend、Managed the famous Jewish family business - Daniel Stern, the first CEO of Ziff Brothers Investments，Recommended 188bet game to the three Ziff brothers。

Ziff Brothers’ investments are known for their patience，At that time, after the United States experienced the housing crisis, many non-performing assets were sold at low prices，188bet game thinks this is a rare bargain hunting opportunity，The Ziff family provided 188bet game with million in initial capital。

Barry and Stern once inspected a project together in Colorado，Staying at a friend's house。While taking a bath in the jacuzzi at night，The two talked about the name of the new company，It happens that the street where my friend’s house is located is called Starwood。So，The name of a “future 188bet game empire” came into being。

1991，Barry officially established 188bet game Capital，A large-scale acquisition of apartments at low prices、Hotels and other properties。However，The company in the early stage of business has a tight budget，Barry and his partners can only fly low-cost flights when traveling on business，You can only choose express hotels for accommodation。But Barry’s unique investment vision has allowed the company’s average annual return to exceed 65% in the past few years。

1995，Starwood Capital Investment 1.USD 200 million，Acquired most of the distressed debt of 188bet game Investors Trust (referred to as ‘HOT’), a listed 188bet game investment trust (REITS) company，And inject all the 188bet game assets held by its No. 1 Fund and No. 2 Fund into the listed company HOT，In exchange for 75% of the equity of HOT company，And renamed Starwood Lodging。After the reorganization, HOT holds a total of 47 188bet game interests，Became the largest 188bet game REITS company in the United States at that time，Laid the foundation for Starwood 188bet game Group (later，Starwood Hotels’ stock code still uses HOT)。

1995，Starwood Capital’s funds join forces with Goldman Sachs Group to 5.Buy the Westin 188bet game brand for US.7 billion。Afterwards，Starwood Capital Group changes Westin’s management team，And re-plan Westin’s brand image and market positioning，Over two years，The number of hotels under the Westin brand has increased from 70 to more than 120。

　　The Sheraton Stockholm 188bet game that witnessed the ITT era and Starwood era & tower

In 1998, Starwood Accommodation Company acquired ITT Sheraton Company for US.3 billion。Get Sheraton、Four Points by Sheraton、The three major 188bet game brands of The Luxury Collection。

With the completion of a series of acquisitions，188bet game Accommodation Company also changed its name188bet game Hotels & Resorts。

By mid-1998，188bet game Hotels & Resorts has a market cap of billion。

around 2000，Starwood Capital successfully exited Starwood 188bet game Group；Barry himself served as the CEO of the 188bet game group until 2004。After that, he began to fully return to Starwood Capital’s investment business，Focus on the management of real estate funds。2005，Barry once entered Starwood 188bet game Group again，Serves as Advisor and Chairman of the Board。He hired Steven Heyer as CEO，Unexpectedly, Steven’s ideas are very different from Barry’s，And trying to change the company's development strategy。Soon，The conflict between the two became public。(final，Steven was forced to resign in 2007，The reason was described by the Wall Street Journal as "personal misconduct")。

In the past 26 years，Starwood Capital has acquired a total of US billion in assets，Current total assets under management US billion，Assets owned or managed include: 84,000 apartments、55 million square feet of office space、50 million square feet of retail property、2500-seat 188bet game、49,000 residential lots and more...

According to the Wall Street Journal，1991 to the end of 2014，188bet game Capital’s average annual net return reaches 25%。Currently，188bet game Capital has assets under management of US billion，188bet game Global Opportunity Fund, which completed fundraising in 2015, has a scale of US.6 billion，It is the largest single fund in the company’s history。

During the 2008 economic crisis，Barry came up with the idea of ​​doing real estate loans，“If I could build a 188bet game company，You can set up a mortgage company”。Starwood Property Trust Company came into being，Successfully raised US0 million through the shadow of the subprime mortgage crisis (much more than the original planned US0 million)，Currently the largest commercial mortgage real estate investment trust in the United States，Owns LNR Partners, the world's largest commercial mortgage special servicer。

The left and right brains are highly developed，Strive for both real estate investment and 188bet game creativity

“I should enter the ‘《Interior Design (Interior Design)》One of the only two businessmen in the Hall of Fame (another business tycoon cannot be verified)。I won many awards,But this one is what I want most。"188bet game said。

In the view of Thomas Flexner, Vice President and Global Head of Real Estate at Citigroup，The highly developed left and right brains (excellent investment ability and creativity in 188bet game design) allow Barry, who has a long career in real estate investment, to easily join the 188bet game industry。Barry’s left brain allowed the boutique 188bet game brand to achieve its first “scale” development，And his creativity in 188bet game design is also known to the world through the W Hotels brand。Maybe it was influenced by my mother who is an artist，Barry has a natural interest in design and a keen sense of art，Still insisting on painting to this day。

188bet game also recruits creative talents from all walks of life，Including Ross, former senior vice president of Ralph Lauren Marketing Company。

“We strive to make our 188bet game special，But we are also dedicated to the basic functions of the 188bet game，” Barry on the W Hotels brand concept，“This is very different from traditional boutique hotels，They are art for art’s sake，We still want guests to be able to fax and work in their guest rooms，This gave me the idea of ​​creating a new and unique international 188bet game brand，With stylish appearance and complete basic functions。”

On the design of W 188bet game，Barry Sternlicht really worked hard。Former Senior Vice President of Global Communications at Starwood Hotels & Resorts K.C. Kavanagh is a first-hand witness: “Barry loves going out and working with designers，This is the most interesting time of his day。He spent a lot of time discussing 188bet game colors and bed comfort with designers，And designed my own bathroom sink，Even designed and painted the entire entrance area of ​​W in Los Angeles。In addition, Barry also discussed how to design the guest room wardrobe，Many hoteliers have said in the past: 'We need to install large wardrobes in guest rooms，Hide the TV inside。’And Barry thinks this is ridiculous，After all, no one wants to install a bulky wardrobe in their living room。It is this re-examination of the 188bet game industry that allows W to redefine the minibar in modern hotels、Lobby、Restaurant、Bar。”

　　Barry Sternlincht’s creative design for the entrance area of ​​the W 188bet game in Los Angeles

In 1998 the W 188bet game opened at the corner of 49th Street and Lexington Avenue in New York City，And quickly became the focus of discussion in the fashion circle。Barry Sternlicht didn’t expect that they would create a brand new one、Fashionable 188bet game brand。Initially he just wanted to rebrand the Westin 188bet game，Unexpectedly, we created such a visionary brand，And influenced the global 188bet game industry。“Our original primary goal，It takes the boutique experience to a higher level - making the experience feel like a suit on your body ，More relaxed、Comfortable、Sexy，It even makes people curious。”Former Vice President of Design for Westin and W Brands D.B. Kim once said in an interview with "Joy Travel"。

In addition，Starwood 188bet game Management Group under Barry’s leadership has achieved a series of “firsts”:

In 1999 188bet game acquired a timeshare company - Vistana，Get ahead in the burgeoning timeshare market。 After，The company changed its name to 188bet game Vacation Ownership Company，Become one of the most profitable companies in the 188bet game Group。

In the same year, Starwood launched the Starwood Preferred Guest (SPG©) program，Show your gratitude to 188bet game frequent guests with generous rewards。 This program heavily promotes its no-date restrictions、No occupancy limit policy；

Still in the same year，Westin launches the first “Heavenly Bed”，It is the first guest bed commissioned by a 188bet game and given a brand name，Known as the "Journey Oasis"，It includes: white duvet、Matter、5 down pillows、3 sheets of 230 thread count sheets (when laying three layers of sheets，Additional layer on the mattress) and specially customized 12.5 inches thick、900 spring "Simmons" mattresses；

2003，Sheraton followed up with the launch of the “Sweet Sleeper” plan，The Radisson 188bet game replaced more than 90,000 mattresses with SleepNumber brand in 2004，The couple can use the remote control to adjust the firmness of their respective half of the mattress；

Same year，188bet game Announcement，its Sheraton in the United States and Canada、Dogs are welcome at Westin and W hotels。Four-legged guests will enjoy a plush dog bed and plush bathrobe included、Puppy toys、Various services including canine information。

"Perfectionism"+"Control Freak"

Barry Sternlicht’s reputation as a “perfectionist” is often interpreted by the media as a “control freak”。"In the 188bet game industry，He made many people unable to come to Taiwan”， Ted Darnall, head of Starwood's North American business, told the magazine "Portforlio" in 2007，"Mr. Sternlicht said。The foresight of the industry and the strategic planning of the group are beyond the reach of those so-called experts，Or incomprehensible... This leads many people to hope to see him fail。”

Another flaw is the way 188bet game handles his public image。“I’m a little naive，" he told Commercial Observer，"For a long time，I only know how to speak with data，And thought this was enough。But you have to manage your image，Even if your audience is thousands of miles away - because their perception may become the fact。This is an important lesson I learned in my career。”

　　Speak out on social media regarding the "Paris Terrorist Attacks"

Once again operating a series of new concept hotels

Barry Sternlicht, who left Starwood 188bet game Group, actually did not stay away from the 188bet game industry，Managed the Baccarat 188bet game one after another，1 188bet game，Principaland a series of new concept hotels.

In 2005, 188bet game Capital acquired the French Groupe Taittinger and Société du Louvre (SDL) for a total price of US.2 billion，The group owns 14 top hotels and 800 budget hotels，And a champagne brand, Taittinger、A luxury crystal brand Baccarat and a perfume brand Annick Goutal。

Shortly after the acquisition was completed，Starwood Capital transferred its champagne and perfume brands，And separate and sell luxury 188bet game assets；As of February 2013，Starwood Capital has recovered more than US billion in funds through the spin-off and sale of SDL Group assets。For the budget 188bet game brand Louvre 188bet game Group in SDL Group’s portfolio，Starwood Capital is committed to operational improvement and market share expansion；By 2015，Louvre becomes the second largest 188bet game management group in Europe，It manages more than 90,000 rooms in 1,100 hotels。Same as March，Starwood Capital sold Louvre to China’s Jinjiang 188bet game Management Group for 1.3 billion euros。

To this point，The only remaining 150-year-old luxury crystal brand Baccarat in the SDL Group transaction。The reason why Baccarat should be retained，Because Barry Sternlicht wanted to borrow its historical accumulation and the concept of "crystal" as the brand name of the luxury 188bet game under his newly established 188bet game management group SH Group。

2011，Starwood Capital purchased two prime properties in Manhattan，One of them was converted into a high-end apartment and the first one under SH GroupBaccarat 188bet game，The other location will be transformed into an eco-friendly boutique 188bet game brand that Barry calls “his favorite child”1 Hotels.

After 4 years of preparation，Baccarat New York 188bet game opened in March 2015，The 188bet game has 114 rooms in total，The average room price is about 900-1000 US dollars per night，The presidential suite reaches 1.USD 80,000/night。Before opening，February 2015，Starwood Capital has transferred the ownership of this 188bet game to 2.Sold to China’s Sunshine Insurance Group for a total price of US0 million。SH Group will still manage this 188bet game for a long time after the acquisition。

1 Hotels Brooklyn Bridge

A source said last summer，188bet game Capital is seeking to sell 1 Hotels as a whole，Three hotels in New York and Miami could be sold together in a package for 0 million，May also be sold separately。

November 1, 2016，Starwood Capital launches another lifestyle 188bet game chain in the UKPrincipal。

March 24, 2017，Barry Sternlicht attended "The Hunter 188bet game Investment Conference" held in Atlanta, USA，was awarded the annual Hunter Award from the conference - recognizing its outstanding achievements in the past year，And a great encouragement to colleagues in the industry。

“Go back to my dad’s problem - the rest of your life，I want to stare at a small screen full of boring numbers，Still looking at myself in the mirror every day,Be happy with what you do every day？”188bet game said，“These 27 years，When I look in the mirror，I will be happy for everything I do now。”

In recent years，Starwood Capital interacts very frequently with Chinese financial and real estate companies，In addition to the above-mentioned sale of the New York Baccarat 188bet game assets to China Sunshine Insurance，Sold French Louvre 188bet game Group to China Jinjiang 188bet game Management Group，Introduced a consortium led by China Life last year，Invest in Starwood Capital’s U.S. 188bet game portfolio，Working with Shimao Group to expand the Chinese 188bet game market this year。

188bet game also noted the growing importance of the Internet in the hospitality and travel industry。August 2016，Velocity, a search and instant reservation platform dedicated to creating high-end dining experiences, received US.5 million in Series B financing，Led by DIG Investments，188bet game Sternlicht and concierge industry giant John Paul both appear on the investor list。

*Source of this article: Luxe.Co, original title: "The "Father of Starwood" who left Starwood once again operates a new concept 188bet game》

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