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From Crillon and Baccarat to Extended Stay: Barry Sternlicht's New Acquisition

Will Molly visit Barry at an Extended Stay hotel?

Two years ago at this time we were all salivating over the luxury hotel plans put forth by former Starwood-er Barry Sternlicht, the man credited with the success of W Hotels, who intended to build hotel brands around the Crillon Hotel in Paris and the luxury crystal maker Baccarat. In addition to those brands, Sternlicht would also develop 1 Hotels, a high-end, green boutique hotel brand.

To date, none of these hotels have come to fruition thanks to the hospitality industry's spectacular downfall (dropping rates, laying off staff, foreclosures, etc) in the wake of the economic crisis of 2009.

So Barry is doing something different these days, like buying Extended Stay Hotels through his Starwood Capital investing firm.

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