Starwood and AJ Capital team up to expand American outdoor brand into hotels

Pictured: Field & Stream property rendering. Imagery courtesy of Starwood Capital Group and AJ Capital Partners.
Real estate private investment firm Starwood Capital Group and real estate and hospitality company Adventurous Journeys Capital Partners are launching an outdoor-focused hotel brand.

Field & Stream Lodge Co, inspired by the American retail brand Field & Stream established in 1871, will be a branded hospitality platform aiming to create modern lodging across the USA.

Authentic brand

Starwood and AJ Capital believe the new brand’s origins bring authenticity and recognition to a category of generic hotel offerings.

The traveller-focused platform will aim to develop branded hotels focused on serving the growing market for affordable and authentic outdoor experiences.

US targets

Field & Stream Lodge Co intends to initially create approximately 20 to 25 hotels, first targeting US markets in close proximity to authentic natural experiences, including national parks, beaches, mountain and ski towns.

Together, Starwood Capital, through a controlled affiliate, and AJ Capital will leverage their collective real estate acquisition, investment and development expertise to create a brand in what they feel is a virtually undifferentiated segment.

The US outdoor recreation industry is reportedly thriving, enhanced by pandemic-driven consumer lifestyle changes, and Field & Stream’s assets will be strategically located in markets where existing lodging options are lacking or outdated for modern consumer preferences.

Outdoor connection

Barry Sternlicht, chairman and CEO of Starwood Capital, said: “As we have proven through our creation of W Hotels, 1 Hotels and Treehouse Hotels, among others, today’s consumer has a strong desire to support brands that connect them with the outdoors, and this initiative with Field & Stream will provide them with authentic hospitality experiences.

“We look forward to partnering with AJ Capital to provide quality, well-designed affordable lodging that is perfect for travellers of all ages and backgrounds.”

Rapid scaling

Ben Weprin, founder and CEO of AJ Capital, added: “We are honoured to be partnering with Barry and the entire Starwood Capital team to launch Field & Stream Lodge Co. Extending the legacy of Field & Stream that is rooted in trust and history is incredibly inspiring and aligns with the approach that AJ Capital leverages in every project.

“Field & Stream hotels will be a modern take on an American classic. As we have demonstrated through Graduate Hotels and Marine & Lawn Resorts, we believe our design-forward and vertically integrated approach will position the platform to scale rapidly and capitalise on consumer demand.”