Today's Hotelier - October 2016 - 45

I PHOTO: CMICHEL67. t's a rare business person who can follow up one big success with another. Barry Sternlicht was always determined to do just that. The founder and CEO of Starwood Capital Group launched Starwood Hotels & Resorts in 1995 at a time when the design hotel trend was just a small niche in the hospitality industry. Envisioning a much broader appeal of that trend, he launched W Hotels in 1998 and changed the hotel industry forever by proving that a design-conscious guest experience could be sold to the mainstream public. Over more than two decades, he has structured investment transactions with an asset value of more than $40 billion. Today, Starwood manages about $12 billion of investor capital on behalf of its high-net-worth and institutional partners. As CEO of Starwood Hotels, Sternlicht managed hotel brands covering every market segment, including one of the earliest soft hotel brands, Starwood Luxury Collection. More recently he launched the sustainability-focused 1 Hotels brand. The purpose of the eco-sensitive context is really primarily to create a platform for guests to share that discussion with like-minded people, he said in a recent interview with Skift. "After doing W Hotels and St. Regis, I was thinking about what we were going to do with another hotel brand," said Sternlicht. "I was thinking how great it would be to mix business with something that's social, that helps the world." The concept grew out of his own interest in the environment and a feeling that it would prove to a viable concept for the traveling public. It would not only engage guests and employees in a bigger purpose, but it would differentiate the brand from other high-end hotels as well. His ability to tap into the feeling and desires of the public - for a product that meshed with their own ethics - has proved to be a winner. "I think what we are talking about is improving the world one bed, one towel, one plastic bottle that isn't in the hotel at a time," he said. Sternlicht has also been a leader in meeting the desire of younger guests, in particular, to use technology. This includes letting them use a mobile device to check in. "Then, we have quite a bit of proprietary technology in the room, which allows the guests to - Barry Sternlicht do lots of things from a tablet in the room," he said. During their visit, the guest can use a mobile app called Field Guide, which can control your stay from start to finish. It controls everything in the room from the TV to temperature. Guests can order room service, contact the valet and even send a text down to the front desk to request various products. This move to technology will also allow the hotels to keep guests happier, by eliminating mistakes. For service's sake, we're eliminating areas that traditionally have tons of mistakes. Instead of calling the front desk to request an item and then waiting fruitlessly because someone forgot to make it happen, technology such Some of Sternlicht's guiding principles for success include: as a text increases the chances that won't happen. * Connect with guests by offering products that appeal to their "At least 50 percent of hotel guests encounter a problem during their stay," he ethical sense. said. "When I was CEO of Starwood Hotels, that was the statistic that astonished * Use technology to reduce mistakes. me. The way to remove those is to basically remove the areas where you can * Don't repeat what you've already done; find a new concept. make those mistakes, right?" Remove the areas where you can make mistakes. STERNLICHT'S TAKEAWAYS Have a very distinctive and unique product. - Ian Schrager "I wanted to do something on a much, much larger scale and that was much more accessible to a larger group of people," he said. With Marriott he seems to have found an ally that understands how things should be done. "They're trying to give the people an alternative, unlike anything in the marketplace," he said in an interview on The Charlie Rose Show. "It's something really unique that separates itself from everything else. When you think outside the box, you see things other people can't see. When you present it to other people, your' presenting something they're not used to seeing. If you're lucky enough to have it resonate with them, then you have a huge hit." It offers him the opportunity to blaze a new trail in an industry that often innovates and then settles into a period of sameness. "What happened is what always happens: all the hotels have started looking like each other," he said. "But in different colors. People have been visually bombarded with 'good design' - the entire industry is doing it. Today it is all about simplifying things. Our process with Edition is to edit, to not go over the top, to be restrained in design. That way you create something that discriminating people will respond to." It can be hard to define just what that critical difference is, but it's easy to know it when you see it. "You don't have to completely reinvent the wheel to be successful - the key is to do whatever you do in an imaginative, original way," he said in an interview with the Huffington Post. When it comes to success, the right vision has to also be partnered with an undiminished desire to keep going and reach new heights. "I'm still just as hungry as I've ever been," said Schrager. "I want to keep doing it and breaking new ground and show people there are new territories and rules to break." TODAYSHOTELIER.COM | OCTOBER 2016 | 45 http://www.TODAYSHOTELIER.COM

Table of Contents for the Digital Edition of Today's Hotelier - October 2016

Letter From the Chairman
Letter From the President & CEO
News Bytes
AAHOA Spotlight
Best Western’s New Frontier
Government Affairs
The Uneven Playing Field: Hotels & Airbnb
Finding Opportunity in the Old
Development & Renovation
Living Legends: Wisdom From Industry Trailblazers
Finance Q&A
The Latest Tech Tools for Hospitality
Guest Experience
AAHOA Events
AAHOA Founding Members
AAHOA Vendor Partners
Classifieds
Advertiser Index
Today's Hotelier - October 2016 - cover1
Today's Hotelier - October 2016 - cover2
Today's Hotelier - October 2016 - 3
Today's Hotelier - October 2016 - 4
Today's Hotelier - October 2016 - 5
Today's Hotelier - October 2016 - 6
Today's Hotelier - October 2016 - 7
Today's Hotelier - October 2016 - Letter From the Chairman
Today's Hotelier - October 2016 - 9
Today's Hotelier - October 2016 - Letter From the President & CEO
Today's Hotelier - October 2016 - 11
Today's Hotelier - October 2016 - News Bytes
Today's Hotelier - October 2016 - 13
Today's Hotelier - October 2016 - AAHOA Spotlight
Today's Hotelier - October 2016 - 15
Today's Hotelier - October 2016 - 16
Today's Hotelier - October 2016 - 17
Today's Hotelier - October 2016 - Best Western’s New Frontier
Today's Hotelier - October 2016 - 19
Today's Hotelier - October 2016 - 20
Today's Hotelier - October 2016 - 21
Today's Hotelier - October 2016 - 22
Today's Hotelier - October 2016 - 23
Today's Hotelier - October 2016 - Government Affairs
Today's Hotelier - October 2016 - 25
Today's Hotelier - October 2016 - 26
Today's Hotelier - October 2016 - 27
Today's Hotelier - October 2016 - 28
Today's Hotelier - October 2016 - 29
Today's Hotelier - October 2016 - The Uneven Playing Field: Hotels & Airbnb
Today's Hotelier - October 2016 - 31
Today's Hotelier - October 2016 - 32
Today's Hotelier - October 2016 - 33
Today's Hotelier - October 2016 - 34
Today's Hotelier - October 2016 - 35
Today's Hotelier - October 2016 - Development & Renovation
Today's Hotelier - October 2016 - 37
Today's Hotelier - October 2016 - 38
Today's Hotelier - October 2016 - 39
Today's Hotelier - October 2016 - 40
Today's Hotelier - October 2016 - 41
Today's Hotelier - October 2016 - Living Legends: Wisdom From Industry Trailblazers
Today's Hotelier - October 2016 - 43
Today's Hotelier - October 2016 - 44
Today's Hotelier - October 2016 - 45
Today's Hotelier - October 2016 - 46
Today's Hotelier - October 2016 - 47
Today's Hotelier - October 2016 - 48
Today's Hotelier - October 2016 - 49
Today's Hotelier - October 2016 - Finance Q&A
Today's Hotelier - October 2016 - 51
Today's Hotelier - October 2016 - 52
Today's Hotelier - October 2016 - 53
Today's Hotelier - October 2016 - The Latest Tech Tools for Hospitality
Today's Hotelier - October 2016 - 55
Today's Hotelier - October 2016 - 56
Today's Hotelier - October 2016 - 57
Today's Hotelier - October 2016 - Guest Experience
Today's Hotelier - October 2016 - 59
Today's Hotelier - October 2016 - 60
Today's Hotelier - October 2016 - 61
Today's Hotelier - October 2016 - AAHOA Events
Today's Hotelier - October 2016 - 63
Today's Hotelier - October 2016 - AAHOA Founding Members
Today's Hotelier - October 2016 - 65
Today's Hotelier - October 2016 - AAHOA Vendor Partners
Today's Hotelier - October 2016 - 67
Today's Hotelier - October 2016 - 68
Today's Hotelier - October 2016 - 69
Today's Hotelier - October 2016 - 70
Today's Hotelier - October 2016 - 71
Today's Hotelier - October 2016 - 72
Today's Hotelier - October 2016 - 73
Today's Hotelier - October 2016 - 74
Today's Hotelier - October 2016 - 75
Today's Hotelier - October 2016 - 76
Today's Hotelier - October 2016 - Classifieds
Today's Hotelier - October 2016 - 78
Today's Hotelier - October 2016 - 79
Today's Hotelier - October 2016 - 80
Today's Hotelier - October 2016 - 81
Today's Hotelier - October 2016 - 82
Today's Hotelier - October 2016 - 83
Today's Hotelier - October 2016 - 84
Today's Hotelier - October 2016 - 85
Today's Hotelier - October 2016 - Advertiser Index
Today's Hotelier - October 2016 - cover3
Today's Hotelier - October 2016 - cover4
Today's Hotelier - October 2016 - outsert1
Today's Hotelier - October 2016 - outsert2
Today's Hotelier - October 2016 - 91
Today's Hotelier - October 2016 - 92
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