The famed Hyatt Hotels no longer belongs to the Pritzer family but that doesn’t mean that they are out of it. One family member, John Pritzer who is the son of the late billionaire Hyatt founder Jay Pritzer is still very much in the game.
He has spent the past couple of years buying up hotels. It’s a bit different this time as John is thinking small. He has bought a total of 43 boutique hotels so far with each having its own unique personality. John projects that within five years his closely held Commune Hotels and Resorts will reach $1 billion in revenue.
John is the co-chairman of the New York-based Commune and has hired hotel veteran Niki Leondakis as CEO to help him reach the $1 billion goal. Revenue for the hotel firm is nearing $450 million this year, higher than the $380 million in 2011.
The approach is to have small rooms with high-end features like flat-screen TV and MP3 play decks. There are more hotel acquisitions in the pipeline as well. Business looks very promising.
The John Pritzer just came seem to get away from hotels.
Business Executives 
Posted on December 14, 2012
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