Barry Sternlicht on retail sector
From Sternlicht Weighs In on Fed's Emergency Measures, Economic Impact of Virus · · Bloomberg Television
“Retail is in the worst shape of all because the long-term health of the retail industry is sort of got to be in question for many of these players. And then they obviously have restaurants and malls and they're either if they don't have any they're in the courtyard of the malls closed so they can't function and the hotels are zeros for the most part.”
On , Barry Sternlicht, Chief Executive Officer & Non-Independent Executive Chairman of the Board at STARWOOD PROPERTY TRUST INC, spoke about retail sector during Sternlicht Weighs In on Fed's Emergency Measures, Economic Impact of Virus on Bloomberg Television.
About Barry Sternlicht
Barry Sternlicht, chairman and CEO of Starwood Capital Group, discussed his company's expansion into AI data center infrastructure during an interview at the Milken Institute Global Conference. He said that Starwood has been investing in data centers for five years and is working on its first data center project in Australia, citing activity by hyperscalers in Europe and Asia. Sternlicht noted that development yields and interest rates in Australia are similar to those in the U.S. and described the firm as agnostic about geography. Sternlicht also expressed concern about wealth disparity in the United States, stating that "half the country isn't doing so great" and that this could affect politics, real estate, and taxes. He said Starwood has "shied away from blue states lately because of their propensity to tax businesses and individuals," pointing to higher growth rates in Sun Belt states such as Nashville, Dallas, Atlanta, Raleigh, and Florida. On monetary policy, he argued that if oil prices spike, the Federal Reserve should lower rates to support interest-rate-sensitive parts of the economy like housing.