![]() He remained on the Board of Directors until 2005. In 2004, Starwood's founder and CEO Barry Sternlicht stepped down as CEO to focus his attention on his other firm, Starwood Capital. ![]() In 2005, Starwood purchased the Le Méridien brand. Aloft Hotels catered toward business travelers. In September 2005, Starwood announced the launch of Aloft, a new hotel brand based on W. In 1999, Starwood launched their "W" Hotels brand. Starwood acquired the Sheraton, Four Points by Sheraton, and The Luxury Collection brands from ITT Sheraton in 1998. The Westin Hotel Company was purchased in 1994 from Aoki Corporation of Japan. Initially, Starwood Lodging owned a number of hotels throughout North America, all under different brand names. 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. The company had a business partnership with American Express and a loyalty program. In 1995, it was acquired and reorganized by Barry Sternlicht, who was its chairman until 2005 and founder of the Starwood Capital Group. Starwood was founded in 1969 as a real estate investment trust. 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. was one of the largest companies that owned, operated, franchised and managed hotels, resorts, spas, residences, and vacation ownership properties. ![]() Starwood Hotels and Resorts Worldwide, Inc.
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