Starwood Capital Launches Baccarat Brand

GREENWICH, CT-As part of its newly launched Baccarat Hotels and Resorts luxury hotel brand, Starwood Capital Group reports it expects to open the line’s first property in Hawaii by 2010.

Starwood Capital chairman and CEO Barry Sternlicht says the new Baccarat Hotels and Resorts line will feature between 80 to 250 rooms/residences. The first property to be located in Wailea, HI, will consist of 193 condominium homes ranging in size from 980-sf, one-bedroom units to 3,330-sf, four-bedroom residences. The Baccarat Wailea will be followed by other Baccarat properties planned for locales in the Caribbean, US, Europe and the Far East, Starwood Capital officials say. Among the many amenities planned for the Baccarat properties will be signature Baccarat crystal chandeliers.

A controlled affiliate of locally based Starwood Capital owns 86% of the shares of the Baccarat company, which it acquired as part of the firm’s purchase of Societe Du Louvre in 2005. Starwood Capital Group’s Sternlicht also serves as chairman of Societe Du Louvre.