Starwood Capital Group, a real estate investment firm with a keen eye on the hospitality sector, has set its sights on a bold new venture in the hotel industry. Barry Sternlicht, the mastermind behind Starwood Capital, has orchestrated a plan to merge a selection of Starwood’s hotel assets with its special purpose acquisition company (SPAC), Jaws Mustang Acquisition. The result? A new growth-oriented hotel company poised to make waves in the hospitality world.
The new entity, which is yet to be named, will become the direct or indirect owner of Starwood Capital’s interests in an initial portfolio of 10 properties. These properties include the 1 Hotel Brooklyn Bridge, 1 Hotel Central Park, and the De Vere portfolio in the United Kingdom. This strategic move aims to leverage the unique features and strengths of each property to create a distinctive and competitive hotel group.
Barry Sternlicht, the charismatic and visionary leader of Starwood Capital, is no stranger to the hotel industry. His previous ventures include the creation of the luxury 1 Hotels brand, which focuses on sustainability and eco-friendly design. The new company will also benefit from Sternlicht’s experience with SH Hotels & Resorts and Baccarat Hotels, both of which have garnered acclaim for their unique and luxurious offerings.
The merger with Jaws Mustang Acquisition is expected to provide the new company with the necessary resources and financial flexibility to grow and expand its portfolio. The SPAC, led by Sternlicht, has raised significant capital to support this venture, with the potential to acquire additional hotel properties in the future.
Looking ahead, the new company is well-positioned to capitalize on the growing demand for unique and sustainable hotel experiences. As travelers increasingly seek out accommodations that align with their values and provide exceptional service, the combination of 1 Hotels’ eco-friendly ethos and the luxurious offerings of SH Hotels & Resorts and Baccarat Hotels could prove to be a winning formula.
Moreover, the new company’s affiliation with Barry Sternlicht and his track record of success in the hotel industry bodes well for its future prospects. Sternlicht’s ability to identify emerging trends and capitalize on them has been evident throughout his career, and his involvement with this new venture adds a layer of confidence in its potential for success.
In conclusion, Starwood Capital’s plan to merge some of its hotel assets with Jaws Mustang Acquisition to form a new growth hotel company represents an exciting development in the hospitality industry. With a diverse and attractive portfolio of properties, a strong leadership team, and the backing of a successful SPAC, the new company is poised to make a significant impact in the world of hotels.
The hotels being transferred to the new merged company under the Starwood Capital and Jaws Mustang Acquisition deal include:
- 1 Hotel Brooklyn Bridge
- 1 Hotel Central Park
- The De Vere Portfolio, which includes 8 properties in the UK