NEW YORK—Starwood Capital Group Chairman and CEO Barry Sternlicht has launched the new mission-driven, luxury lifestyle brand 1 Hotels in South Beach, FL.
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Starwood Capital Group has named Arash Azarbarzin CEO of its SH Hotels & Resorts subsidiary, which operates the 1 Hotels, Baccarat Hotels and Treehouse Hotels brands.
Starwood Capital Group and the billionaire LeFrak family sold the 1 Hotel South Beach in Miami Beach for $610 million. The 429-room oceanfront hotel at 2341 Collins Ave. was acquired by Bethesda, Maryland-based Host Hotels & Resorts (NYSE: HST).
South Beach Group hotels owner, Alan Lieberman, is expanding his boutique hotel empire to Mid-Beach – the area known as Fontainebleau and Eden Roc territory.
Before 1 Hotel South Beach, the property was home to the Gansevoort Miami Beach hotel. However, in 2012, the hotel underwent a massive renovation and rebranding to become the eco-friendly and sustainable retreat it is today.
Largest Hotel Chains Research SummaryThe largest hotel chain in the world is Marriott International, with a revenue of $20.77 billion. As of 2022, the global hotel industry has a market size of $1.5 trillion U.S. dollars. In total, there are over 18 million hotel rooms in the world.
Marriott InternationalMarriott is the largest hotel chain in the world by the number of available rooms. It has 30 brands with 7.642 hotels including 1.423. 044 rooms in 131 countries and territories. Between 2020 and 2021 the number of Marriott International rooms increased from 1.358.