Starwood Capital Group
 |
|
| Industry | Private Equity |
|---|---|
| Founded | Greenwich, Connecticut |
| Founder |
Barry Sternlicht Robert Faith |
| Headquarters | United States |
|
Key people
|
Barry Sternlicht (Chairman and CEO) |
| Services | Hotels, retail, commercial lending |
| Website | www |
Starwood Capital Group is an American private investment firm headquartered in Greenwich, Connecticut. The businesses owned by the firm include Starwood Property Trust, Inc., Starwood Energy Group Global, L.L.C., Starwood Real Estate Securities, L.L.C., and SH Group. It was co-founded by Barry Sternlicht and Robert Faith in 1991.
In 2000, Starwood Capital exited its investment in Starwood Hotels & Resorts, Inc. In 2003, the company exited its investment in iStar Financial, Inc.
In 2005, it acquired Groupe du Louvre, which owns crystal maker Baccarat.
In 2009, a consortium led by Starwood Capital bought 40 percent of the loan portfolio of Corus Bank, a failed company. In 2010 Starwood Capital Group lost an auction to buy Extended Stay Hotels to Centerbridge Partners. Starwood filed an objection against the sale to Centerbridge with the bankruptcy court in Manhattan.
On July 12, 2010, Riviera Holdings – owners of the Riviera hotel and casino in Las Vegas, Nevada; and Riviera Black Hawk in Black Hawk, Colorado – filed a Chapter 11 bankruptcy petition in Las Vegas together with a reorganization plan, under which secured lenders, led by Starwood Capital Group, would receive new debt and stock.
In 2012, the company began construction on a chain of hotels under the name of Baccarat Hotels and Resorts which will feature crystal chandeliers from Baccarat. The flagship hotel will be in New York City, New York, on the site of the old Donnell Library Center, which it had bought from the 21 Club. Other complexes are scheduled to open in 2014 and 2015 in Dubai, United Arab Emirates; Rabat, Morocco; Carthage, Tunisia; Marrakech, Morocco; and Foshan, Shanghai; and Tianjin, China.
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Wikipedia