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THE HOTSHOT OF HOTEL REITs

BARRY S. STERNLICHT
PRESIDENT & CEO
Starwood Capital
Greenwich, Conn.
CHAIRMAN & CEO
Starwood Lodging Trust
Phoenix

The 36-year-old Sternlicht is riding high in the red-hot hotel industry. The head of Starwood Lodging Trust, the nation's largest hotel REIT, just acquired the Westin Hotel & Resorts chain in a deal valued at $1.6 billion. The transaction gives Sternlicht's REIT the brand identity it needs to unite its portfolio and become a bigger presence in the worldwide lodging industry. Sternlicht also manages a private opportunity fund out of Greenwich, Conn. He may have plans to spin an office REIT out of the fund. Lately, he has been buying the riskiest of the risky property sectors: raw land.



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Updated Sept. 11, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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