–
Sternlicht, head of the Starwood Capital Group, paid an undisclosed sum for the six luxury hotels that make up the package.
–
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Barry Sternlicht / Getty
–
Barry Sternlicht, owner of the Starwood Capital Group, has taken another major step forward in increasing his company’s footprint in the global hospitality industry market with the acquisition of the U.K.-based Four Pillars Hotels group.
Under the terms of the purchase agreement, Starwood Capital are the new owners of the Four Pillars Hotel of six hotels, three of them situated in the historic University city of Oxford, the former Cotswold Water Park Hotel, near Cirencester, in the picturesque Cotswolds region as well as one in the South West English city of Bristol. All of the hotels operate within in the three and four star sector.
–
Cotswold Water Park Hotel
–
In total the entire chain of six hotels, offer more than eight hundred rooms as well as meeting and conference centers, top class restaurants as well as health facilities including spas.
No details were made public on how much the Starwood Capital Group paid for the Four Pillars Hotel hotel chain, established in 1974 by local businessman Charles Holmes.
The Starwood Capital Group announced they will begin implementing a major construction project in 2012, which will see them complete a chain of luxury hotels. Under the name of Baccarat Hotels and Resorts, the group’s flagship hotel to be situated in the heart of Manhattan, New York City is due to open shortly, with other hotels scheduled to open in Dubai in the United Arab Emirates, in Foshan, Shanghai and Tianjin in China among a number of other locations will be opening their doors during the next two years.
–
Tortworth
–
Barry Sternlicht graduated magna cum laude, with honors, from Brown University, going on to receive his MBA with distinction from Harvard Business School.
After graduation, Barry began his professional career working with Chicago based JMB Realty, a real estate investment company.
In 1989, Sternlicht established his first business venture, which led to the launch of Starwood Capital Group two years later, with their principal activity being the acquisition of domestic properties, particularly apartment buildings with the company eventually diversifying into the purchase of hotel sites, focusing on combining his passions of architecture and real estate finance. In the space of twenty years, the Starwood Capital Group has completed transactions with an asset value exceeding $40 billion.
In 2010, Sternlicht was handed the Executive of the Year and Investor of the Year by the Commercial Property Executive magazine, while in the same year the Private Equity Real Estate magazine named Sternlicht as the Global Industry Figure of the Year as well as the North American Industry Figure of the Year in 2010 for the second consecutive year in that category.
Barry Sternlicht, well known for his interior design skills, has recently been inducted into the Interior Design Magazine’s Hall of Fame.
–
Oxford Spires Four Pillars Hotel
–
