Barry S. Sternlicht, chairman of the board and CEO and founder of Starwood Capital Group and founder of Starwood Hotels & Resorts Worldwide, will receive the 2015 Cornell Icon of the Industry Award for his contributions to the hospitality industry, real estate markets, and the global business community, as well as his philanthropic impact, at the 7th annual Cornell Hospitality Icon & Innovator Awards.
The awards gala will take place June 2nd at Cipriani 42nd Street in New York. Contributions to the gala help support the school’s annual fund, which provides key funding to scholarships and programs. In 2014, 700 of the most influential leaders and innovators in hospitality and travel attended the awards celebration.
Sternlicht founded Starwood Hotels & Resorts Worldwide in 1995 and led the negotiations for the recapitalization and reorganization of Starwood Hotels and its subsequent acquisition of ITT Corporation. He also spearheaded Starwood Capital Group’s 1995 acquisition, recapitalizations, and revitalization of Westin Hotels and Resorts. Over the past 22 years, he has structured more than 400 separate investment transactions with an asset value of more than $40 billion.
Sternlicht served as the chief design officer at Starwood Hotels & Resorts since 2004. He is credited as a dynamic and innovative hotel leader, creating new products and programs with immediate global appeal, launching W Hotels,and building St. Regis Hotels into a brand. Some of his other innovations include the creation of Westin’s Heavenly Bed, Heavenly Bath, Westin Workout, and the Starwood Preferred Guest program.
