Early Life and Education
Barry Stuart Sternlicht was born in New York City on November 27, 1960. He grew up in Stamford, Connecticut. His father, Maurycy “Mark” Sternlicht, was a plant manager and a Jewish Holocaust survivor from Poland. His mother, Harriet, was a biology teacher and stockbroker. Sternlicht graduated magna cum laude from Brown University in 1982, where he met his future wife, Mimi Reichert. He then earned an MBA from Harvard Business School in 1986.
Rise to Success
After graduating from Harvard, Sternlicht worked at JMB Realty before founding Starwood Capital Group in 1991 with Bob Faith. The firm initially focused on acquiring apartment buildings. In 1994, he made a significant move with the acquisition of Westin Hotels & Resorts. In 1995, he founded Starwood Hotels & Resorts Worldwide, which he led as Chairman and CEO until 2005. During his tenure, he built Starwood Hotels into a leading global hotel company, creating the W Hotels brand and expanding the St. Regis brand.
Key Business Strategies
Sternlicht's strategies included strategic acquisitions and brand innovation. He acquired Sheraton Hotels in 1997. He also focused on creating unique guest experiences, exemplified by the W Hotels and the Westin Heavenly Bed. This focus on quality and innovation allowed him to establish the W Hotels and expanded the St. Regis brand. This contributed to the company's strong market position and profitability. Sternlicht's ability to identify and capitalize on market trends was a key aspect of his success.
Philanthropy
Barry Sternlicht has a philanthropic portfolio that includes juvenile diabetes research, education reform, environmental causes, and Jewish advocacy. Sternlicht and his then-wife Mimi funded a $1 million grant to the Harvard Stem Cell Institute in 2007 to support diabetes research. In 2024, he stopped donations to Brown University after the university addressed student protests regarding companies doing business with Israel. He launched Facts for Peace, a digital campaign aimed at combating antisemitism following the October 7 attacks in Israel, which raised over $30 million and generated over a billion social media views.
