Barry Sternlicht on Building an Hotel and Real Estate Empire

The speaker discusses their career journey, highlighting their role in launching W Hotels and transforming St. Regis into a brand. They express a desire to return to the private sector, leading to their involvement with Starwood Capital Group. The speaker also elaborates on the development of hotel concepts, including the luxury brand Bacharach and the innovative idea of branded boutique hotels, exemplified by the W Hotel in New York. The narrative emphasizes the importance of comfort and collaboration with real restaurateurs in the hotel industry.

What was one of the reasons the speaker decided to leave their position as a public company CEO?

• They were offered a better position elsewhere.

• They were tired of the public company environment.

• They wanted to retire.

• They wanted to start a new company.

What was the primary focus of the Bacharach brand according to the speaker?

• Affordable luxury

• Instant brand recognition

• Family-friendly services

• Eco-friendly design

Who was the speaker friends with, who had previously developed unique hotels?

• Ian Schrager

• Steve Wynn

• Bill Marriott

• Conrad Hilton

What was the unique strategy employed by the speaker for the W Hotel's restaurants?

• Hiring celebrity chefs

• Outsourcing to real restaurateurs

• Offering only local cuisine

• Creating a hotel-owned restaurant chain

What was the initial reaction of the analyst from Prudential Securities to the W Hotel concept?

• They were excited about the potential.

• They were confident it would succeed.

• They were skeptical about its success.

• They were indifferent to the concept.