SAN FRANCISCO-Billionaire investor John Pritzker has acquired the remaining 50% of a group of Commune Hotels in New York, Los Angeles, and London.
Through his Geolo Capital, Pritzker purchased the stake from Jason, Michael and Lawrence Pomeranc, who had contributed hotels from their Thompson chain to the partnership, according to Bloomberg News. Pritzker is taking over six Thompson properties including two in New York, the Hollywood Roosevelt in Los Angeles, and the Belgraves in London, along with the Thompson brand name.
Not part of the deal are: 60 Thompson, Thompson LES and 6 Columbus in New York; the Hotel Victor in Miami Beach; and the Thompson Beverly Hills. See story at Bloomberg News.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
