Early Life
Barry Stuart Sternlicht was born in New York City on November 27, 1960, and grew up in Stamford, Connecticut. His father was a Holocaust survivor, and his mother worked as a biology teacher and stockbroker. Sternlicht graduated magna cum laude from Brown University in 1982, and he earned an MBA from Harvard Business School in 1986.
Rise to Success
Sternlicht's career began at JMB Realty. In 1991, he co-founded Starwood Capital Group. In 1994, Sternlicht's company purchased Westin Hotels & Resorts. In 1995, he purchased Hotel Investors Trust and became CEO. He then founded Starwood Hotels & Resorts Worldwide, Inc. and served as its chairman and CEO from 1995 to 2005. During his tenure, he created W Hotels and built the St. Regis Hotels brand. Sternlicht also serves as Chairman of Starwood Property Trust.
Key Business Strategies
Sternlicht's success is attributed to his strategic acquisitions, innovative brand creation (W Hotels), and focus on real estate investment opportunities. He has a knack for identifying and capitalizing on market trends, from apartment buildings to hotel chains and commercial mortgages. His ability to move between asset classes and adapt to evolving market dynamics has been a key to his success.
Philanthropy
Sternlicht and his then-wife Mimi funded a $1 million grant to the Harvard Stem Cell Institute to support diabetes research. Through the Barry and Mimi Sternlicht Foundation, he supports causes including Jewish causes and humanitarian relief (particularly related to Israel), diabetes research, education, global development, health, arts and culture, and historic preservation.