Barry Sternlicht is the founder of Starwood Hotels, who sold his company to Marriott in 2015 for $13 Billion. He warned that the established hotel chains may face increasing pressure from independent brands.
Speaking at the NYU International Hospitality Investment Forum on Tuesday, Sternlicht said he’s been tracking the shifting dynamics in consumer products, and how social commerce may erode the marketing advantages once held by large players.
Sternlicht, who is on the board at Estee-Lauder since 2004, said that upstart brands have a market share of about one third, compared to 10% a few years ago.
“The
