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The Fort - An Entrepreneurship Podcast
#335 - Barry Sternlicht - Chairman & CEO @ Starwood Capital Group
Feb 6, 2024
Barry Sternlicht, Chairman & CEO of Starwood Capital Group, discusses scaling the business to 120k employees in 6 years, the value of 'A Shared Pair' REIT, taking a company from $1B in AUM to $10B, and selling Caesars Palace.
01:22:20
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Quick takeaways
- Barry Sternlick grew a hotel empire worth over $20 billion by the age of 37, emphasizing the importance of raising funds and having a clear growth plan.
- Scaling a company from two people to 120,000 employees requires adaptability, building a strong team, and understanding different markets and cultures.
Deep dives
Barry Sternlick's Remarkable Journey in the Hotel Industry
In this podcast episode, Barry Sternlick, the chairman and CEO of Starwood Capital, shares his inspiring story of starting with $0 in assets and growing a hotel empire worth over $20 billion by the age of 37. He discusses the importance of raising funds to fuel growth and highlights their plans to go from $1 billion to $10 billion in assets, particularly through their first committed fund. Sternlick also shares fascinating real estate stories, such as selling Caesar's Palace and the significance of pitch decks in business presentations. Additionally, he talks about the growth potential of the hotel industry, especially with emerging markets like China and India. Sternlick emphasizes the importance of understanding local markets, having a sharp focus, and being consistent with the product and customer experience in the hotel industry.
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