Pursuits
Billionaire Pritzker Purchases Rest of Commune Hotels
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Billionaire John Pritzker, the son of the late founder of the Hyatt Hotels Corp. chain, bought the 50 percent of closely held Commune Hotels and Resorts that he didn’t already own for an undisclosed amount.
Through his private-equity firm Geolo Capital, Pritzker purchased the stake from the Pomeranc brothers -- Jason, Michael and Lawrence -- who had formed a joint venture with Pritzker in October 2011. The three contributed hotels from their Thompson chain, founded by the brothers in 2001, to the partnership.