Hi, received an interview with Starwood’s hotel team. Originally wanted to work across general real estate assets, but can’t turn down an opportunity with them even if it’s just for hotels. Was looking through LinkedIn and noticed majority of the team has turned over in the last 2 years. Any insight into what’s going on? Ideally, would like to work on a “stable” team that will help me grow as I’m relatively early in my career.
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Mind elaborating please? What could be so bad?
Barry Sternlict is a billionaire and acts like a billionaire. I work with a lot of ex-Starwood hotel folks and it seems like he assumes everyone is replaceable and it's been like that for a long time, even at the senior level. He usually has no. 2 "guy" that he burns out quickly, then they go off and do great things on their own.
Now for someone in your position, I wouldn't think about it as "just for hotels". It's one of the most prestigious shops in the world and you will have fantastic exit ops even after just a few years, plus comp will be fantastic. Their hotel team does really cool stuff in both public and private investments - hotels are also how the empire got started.
I can't speak to culture at the junior level, I imagine you're grinding quite a bit, but you will learn a ton. I would absolutely give it a shot if I were you.
Have heard work hours are horrendous and its a pretty toxic culture.
There’s high turnover because of shitty hours and amazing exit opps
Any examples of possible exit opps out of their hotel team?
Two sigma, JP Morgan RE, Brookfield, Apollo… these are just some examples but people can go literally wherever they want in RE. Haven’t seen any leave RE though
Bump
My knowledge of Starwood are the work hours are horrendous and the culture is not so great. If I had to guess, that’s probably the reasoning.
4 ex Starwood people at my current shop. They all spent 5+ years there and finally left because of culture, long hours and general bullshit.
They all make more money and don't work until midnight every night.
you guys hiring?
We just hired a new associate, but are looking for a fresh grad analyst for next year.
How's the general acquisitions team? Are layoffs imminent given current RE enviornment?
Doubt it. They’ve got high AUM and likely function off a fee model from investors. I’d imagine they’ll be cranking looking for creative opportunities to place dollars. Also, I doubt they’re over staffed on their investment team so if you get chopped as a junior it’s likely fit/performance related.
Op, how did you get the interview?
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