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St. Regis Hotels & Resorts was Starwood's main luxury brand, launched in 1899. It is named for St. Regis New York, which was built in 1904 in Manhattan at 5th Avenue and 55th Street by John Jacob Astor IV, who also founded the Astoria Hotel (which later became the Waldorf-Astoria Hotel) and who died in 1912 on the RMS Titanic.
Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. [4] It is managed by Barry Sternlicht. [5] It was co-founded by Sternlicht and Robert Faith in 1991. [1] In 1993, Faith left Starwood to found Greystar Real Estate Partners. [1]
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Barry Stuart Sternlicht (born November 27, 1960) is an American billionaire and the co-founder (with Bob Faith), chairman, and CEO of Starwood Capital Group, an investment fund with over $100 billion in assets under management. [2]
In 1994, Aoki agreed to sell Westin to real estate investment firm Starwood Capital Group (parent of Starwood) and Goldman Sachs at an enormous loss, for $561 million, but by the time the sale closed in May 1995, the buyers had negotiated the price down to $537 million. [18] In 1998, Starwood assumed full ownership of the company. [3]
As of 2005, Faith was a member of the Urban Land Institute and the National Multifamily Housing Council. [9] In 2020, Faith was nominated to the real estate group of the Great American Economic Revival Industry Groups, [20] a bipartisan panel convened by President Donald Trump during the COVID-19 pandemic.