Pankaj56. Starwood Capital Group Management LLC
Headquarters: Miami Beach, Florida
Bought By: China Life Insurance Co. Ltd
Headquarters: Beijing, China
When Starwood Capital Group Management LLC launched in 1991, its founders Barry Sternlicht and Robert Faith weren’t afraid to make big purchases. In 1994, they teamed up with Goldman Sachs to purchase Westin Hotels and Resorts, splashing $561 million. The sale really put them on the map.
The cash was rolling in, but every prime business needs investors to keep things moving. In 2016, China Life Insurance Co. Ltd partnered with Starwood to inject $2 billion into select-service hotels. “We are thrilled to embark on a partnership that represents a first-of-its-kind relationship for our firm,” said Sternlicht at the time.