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From Starwood Founder To Starwood Rival

Published Tuesday, January 24, 2006

Prepare for another ultra-luxury hotel chain. Eight months after leaving the company he founded — Starwood Hotels & Resorts —Barry Sternlicht is launching a rival venture that will compete against several luxury chains that he helped build. The new hotel empire will model itself after Paris’ high-end Crillon Hotel, whose parent company, Societe du Louvre, Starwood Capital acquired earlier this month for $3.2 billion. He plans to launch Crillon-modeled hotels in London, Rome, New York and Barcelona, among other world cities. Provided that operating fundamentals stay strong and new supply remains checked, the timing of this debut could ...

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