Private company

Italian Grand Hotels Company

Starwood Hotels and Resorts Worldwide, Inc. was one of the largest companies that owned, operated, franchised and managed hotels, resorts, spas, residences, and vacation ownership properties.1

Last updated Oct 18, 2026.

Overview

1906Founded1
  • Founded inVenice1

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Starwood Hotels and Resorts Worldwide, Inc. was one of the largest companies that owned, operated, franchised and managed hotels, resorts, spas, residences, and vacation ownership properties. Starwood was founded in 1969 as a real estate investment trust named Hotel Investors Trust. In 1995, it was acquired and reorganized by Barry Sternlicht, who was its chairman until 2005 and founder of the Starwood Capital Group. Starwood had 11 brands and owned, managed, or franchised 1,297 properties comprising 370,000 hotel rooms in approximately 100 countries. It was acquired by Marriott International in 2016.2

How it started

Under Starwood Capital Group

Starwood Hotels and Resorts was originally formed by the real estate investment firm Starwood Capital to take advantage of a tax break; at the time the company was known as Starwood Lodging. Initially, Starwood Lodging owned a number of hotels throughout North America, all under different brand names. The Westin Hotel Company was purchased in 1994 from Aoki Corporation of Japan. Starwood acquired the Sheraton, Four Points by Sheraton, and The Luxury Collection brands from ITT Sheraton in 1998.

In 1999, Starwood launched their "W" Hotels brand. In September 2005, Starwood announced the launch of Aloft, a new hotel brand based on W. Aloft Hotels catered toward business travelers. In 2005, Starwood purchased the Le Méridien brand.

In 2004, Starwood's founder and CEO Barry Sternlicht stepped down as CEO to focus his attention on his other firm, Starwood Capital. He remained on the Board of Directors until 2005. He was succeeded as CEO by Steven J. Heyer, and Starwood began selling a number of its company-owned hotels, instead focusing on becoming a management company and franchiser for its current and future hotel brands. In April 2007, Steven J. Heyer left the company on the request of the Board of Directors because of an issue with Heyer's management style and after allegations of personal misconduct. Chairman of the Board Bruce Duncan served as interim CEO until September 2007, when the company announced Heyer's successor, Frits van Paasschen. Van Paasschen served as CEO until February 2015, when he announced that he was resigning in a mutual decision with the board of directors.

In November 2009, Starwood announced that it would be moving its headquarters from White Plains, New York to Stamford, Connecticut by January 2012.

In late May 2014 reports surfaced that the company had recently made a takeover bid for InterContinental Hotels Group worth $10 billion, which neither company confirmed or denied. In November 2015, it was announced that Starwood would be acquired by Marriott International for $12.2 billion. In December 2015, Thomas B. Mangas, former head of Armstrong World Industries' flooring business, became the CEO at Starwood Hotels & Resorts Worldwide effective December 31, 2015.

From Wikipedia’s article on Italian Grand Hotels Company, shared under CC BY-SA 4.0.2

Timeline

  1. 1995Dissolved Dissolved1
  2. 1906Founded Founded in Venice1

Sources

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