Barry Sternlicht invests in HotelTonight

Barry Sternlicht, the founder of Starwood Capital Group and former CEO of Starwood Hotels & Resorts Worldwide, is investing in last-minute hotel booking site HotelTonight. The size of the investment, however, wasn't disclosed.

According to a press release, HotelTonight has close to 9 million downloads and over 10,000 hotel partners in 17 countries and more than 250 destinations. Since HotelTonight's launch in January 2011, the company has raised more than $80 million in funding.

Sternlicht will also reportedly act as a special advisor.

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"To have a visionary like Barry Sternlicht backing and advising HotelTonight is a powerful validation of the work the HotelTonight team and our top tier network of hotel partners have put into revolutionizing the travel industry," said Jared Simon, co-founder and COO, HotelTonight. "With his support and the addition of several chains to the app, we’re proving that the hotelier-distributor relationship doesn’t need to be adversarial but can actually be mutually beneficial."

"Booking windows are shrinking and customers are going mobile, trends which position HotelTonight perfectly for the future," said Sternlicht. "But there’s something more that attracted me—it’s that HotelTonight is proving booking by booking that both hotels and distributors can win. HotelTonight is a refreshing alternative that should become a major participant in the future of hotel distribution."


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