Barry Sternlicht: Redefining Luxury, Leading Innovation, and Championing Global Causes

Barry Sternlicht, born on November 27, 1960, in New York City, is a prominent American businessman renowned for his significant contributions to the real estate and hospitality industries. As the co-founder, chairman, and CEO of Starwood Capital Group, Sternlicht has been instrumental in shaping modern luxury accommodations. His ventures have consistently pushed the boundaries of innovation and luxury, reflecting his visionary approach to business.

In recent developments, Sternlicht is leading a transformative project in Miami Beach, focusing on the iconic Standard Hotel. Acquired in late 2021 for $62 million, Sternlicht, through his family office JAWS Estates Capital, plans to redevelop the property into a mixed-use facility that seamlessly blends hospitality and residential spaces. The redevelopment proposal includes transforming the hotel’s east wing into a five-story building featuring six luxury condominiums and 50 hotel rooms. The west wing is set to undergo renovations, reducing its hotel rooms from 67 to 50, aiming to elevate the Standard Hotel into a “wellness-oriented oasis.” This ambitious project is a collaboration with renowned architect Bjarke Ingels of BIG, with Kobi Karp Architecture & Interior Design serving as the architect of record. The Miami Beach Design Review Board is scheduled to review the proposal on October 1, 2024.

Expanding his global footprint, Sternlicht unveiled plans for the Baccarat Hotel & Residences Maldives, set to open in 2027. This development aims to introduce unparalleled luxury to the Maldives, featuring over 50 hotel villas and 53 private residences across five interlinked islands in the South Malé Atoll. Designed by the globally acclaimed architecture firm HKS, with interiors by 1508 London, the resort will offer a range of accommodations, from one- to three-bedroom villas to expansive private islands. Amenities will include signature restaurants led by world-renowned chefs, a nine-hole golf course, tennis courts, and a dedicated wellness spa. Sternlicht expressed his vision for the project, stating, “We aim not just to create a place to stay, but to curate an experience that celebrates the essence of luxury living with the breathtaking backdrop of the Maldives.”

Beyond his business ventures, Sternlicht has been actively involved in philanthropic and political activities. In 2024, he ceased donations to his alma mater, Brown University, after the institution agreed to hold a board vote addressing student protestors’ desire to divest from companies doing business with Israel. Sternlicht criticized the protestors as “ignorant” and lacking “facts and moral clarity.” Additionally, following Hamas’s attack on Israel on October 7, 2023, Sternlicht initiated a WhatsApp group with prominent U.S. business leaders to support Israel and influence U.S. public opinion. The group, which included figures like Howard Schultz and Michael Dell, discussed strategies to “change the narrative” in favor of Israel and “help win the war” of public opinion. The chat expanded to approximately 100 members before it was shut down in early May 2024.

Sternlicht’s personal life has also seen notable changes. He was married to Mimi Reichert, whom he met at Brown University, but they divorced in 2016. Following the divorce, Sternlicht relocated to Florida, where he continues to lead Starwood Capital Group and engage in various philanthropic endeavors. As of May 2023, his net worth was estimated at $4.6 billion, reflecting his substantial impact on the real estate and hospitality sectors.

In summary, Barry Sternlicht’s recent activities underscore his unwavering commitment to innovation in luxury hospitality and real estate. His projects, from the redevelopment of the Standard Hotel in Miami Beach to the ambitious plans for the Maldives, highlight a forward-thinking approach that continues to influence the industry. Simultaneously, his philanthropic and political engagements reflect a dedication to causes he deeply values, solidifying his reputation as a dynamic and influential figure in both business and society.