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Sternlicht to Start a Chain of Luxury Hotels

January 24, 2006|From Bloomberg News

Real estate entrepreneur Barry Sternlicht, who founded Starwood Hotels & Resorts Worldwide Inc., said he would start a luxury-hotel chain to compete with high-end properties including St. Regis.

The Crillon brand may be opened in cities including London, Rome and New York. The brand will be modeled on the Hotel de Crillon in Paris, which Sternlicht's Starwood Capital Group acquired with its purchase of Societe de Louvre this month.

Sternlicht's new brand will be competing with the St. Regis and W chains of Starwood Hotels, the publicly traded company he founded in 1994 and left last year.

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