Photo:
Wikimedia Commons/Cmichel67
Barry Sternlicht was just 36 when his young Starwood Lodging Trust outbid Hilton Hotels Corp. to acquire ITT Corp., which at the time included Sheraton Hotels, for $10.2B.
Since then, the 56-year-old hotel mogul has emerged as a titan of hotels and commercial real estate in general. He is known for closing marquee deals. He is credited with creating the W hotel brand, one of the most successful boutique brands in recent decades. In 2015, Starwood Hotels & Resorts sold for a record price of more than $2M per room. And in 2016, Sternlicht’s firm acquired a 23,000-unit residential portfolio from Equity Residential for $5.4B. — Scott Klocksin
