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.

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