Industry Update
External Article25 March 2021

Barry Sternlicht sees a travel ‘frenzy this summer

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cnbc
  • "We see all of this pent-up demand coming back. It's going to be a frenzy this summer," Starwood Capital's Barry Sternlicht told CNBC on Wednesday.
  • The billionaire investor said that signs of the post-coronavirus recovery are already evident in Miami.
  • He said one of his company's hotels in the area, 1 Hotel South Beach, is "ahead in February of this year, ahead of 2019."

Billionaire investor Barry Sternlicht told CNBC on Wednesday the U.S. travel recovery is well on its way — at least in parts of the country like Florida — after a Covid-induced slowdown.

"We see all of this pent-up demand coming back. It's going to be a frenzy this summer," the chairman and CEO of Miami-based Starwood Capital Group said on "Squawk Box."

For example, Miami restaurant attendance data from OpenTable shows many days in March have been higher than pre-pandemic levels from 2019

Read the full article at cnbc

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