New Luxury Eco-Hotel Company From Sternlicht

Little more than 18 months after he left Starwood Hotels & Resorts Worldwide Inc., Barry Sternlicht is taking another big step back into the hotel business—this time with a new luxury brand that aims to combine chic accommodations with an environmentally friendly stance, the Wall Street Journal reports. Sternlicht, chairman and chief executive of closely held real-estate concern Starwood Capital Group Global LLC, will launch a new luxury hotel company called "1" Hotels & Residences. Designed to compete directly with upscale offerings like Starwood Hotels' St. Regis brand, as well as the Ritz-Carlton and Four Seasons brands, the first "1" is planned for a 2008 opening in Seattle. Other hotels will follow in Scottsdale, AZ, Paris, and at the Mammoth Mountain ski resort in California. Starwood Capital is unaffiliated with Starwood Hotels.

Read more on