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| ==Early life and education== | ==Early life and education== | ||
| Pritzker was born to a ] family in ],<ref> may 16, 2013</ref> the son of Marian "Cindy" (née Friend) and Jay Pritzker.<ref> April 25, 1988</ref> Jay diversified the Chicago-based family business, the ] - along with his brothers ] and ] - building it into a portfolio of over 60 diversified industrial corporations. Jay also created the ] chain in 1957 and owned ] from 1983–1988.<ref name=ForbesBillionaires /> The family has been divesting its assets: in 2006, the family sold Conwood, a smokeless tobacco company, for $3.5 billion to cigarette company ] Inc;<ref name=ChicagoTribuneOwnLessThanHalf> April 19, 2011</ref> in 2007, the family sold control of the Marmon Group to ]'s ] for $4.5 billion;<ref name=ForbesBillionaires /> and in 2010, the family sold its majority stake in ], the Chicago-based credit reporting company, for an undisclosed amount to Chicago-based private-equity firm ].<ref name=ChicagoTribuneOwnLessThanHalf /> |
Pritzker was born to a ] family in ],<ref> may 16, 2013</ref> the son of Marian "Cindy" (née Friend) and Jay Pritzker.<ref> April 25, 1988</ref> Jay diversified the Chicago-based family business, the ] - along with his brothers ] and ] - building it into a portfolio of over 60 diversified industrial corporations. Jay also created the ] chain in 1957 and owned ] from 1983–1988.<ref name=ForbesBillionaires /> The family has been divesting its assets: in 2006, the family sold Conwood, a smokeless tobacco company, for $3.5 billion to cigarette company ] Inc;<ref name=ChicagoTribuneOwnLessThanHalf> April 19, 2011</ref> in 2007, the family sold control of the Marmon Group to ]'s ] for $4.5 billion;<ref name=ForbesBillionaires /> and in 2010, the family sold its majority stake in ], the Chicago-based credit reporting company, for an undisclosed amount to Chicago-based private-equity firm ].<ref name=ChicagoTribuneOwnLessThanHalf /> | ||
| ==Career== | ==Career== | ||
| In 1972, Pritzker started his career working in the family business, Hyatt Hotels, where in 1984, he rose to become Managing Director and Divisional Vice President.<ref> retrieved July 21, 2013</ref> In 1988, he left Hyatt to pursue his own entrepreneurial activities<ref name=WMag> August 2010</ref> including become a founding member of ].<ref name=HotelManagementmag> January 21, 2011</ref> In 1996, he formed ],<ref> February 16, 2012</ref> a chain of 72 resort spas, which he hoped to pair up with Hyatt Hotels, but ended up being located entirely in competitors to Hyatt. In 2000, 40% of the company was sold to '']''<ref> May 16, 2000</ref> In 2001, the remaining 60% was sold to ''Steiner Leisure Limited'', a ] (STNR) listed company.<ref> July 2, 2001</ref |
In 1972, Pritzker started his career working in the family business, Hyatt Hotels, where in 1984, he rose to become Managing Director and Divisional Vice President.<ref> retrieved July 21, 2013</ref> In 1988, he left Hyatt to pursue his own entrepreneurial activities<ref name=WMag> August 2010</ref> including become a founding member of ].<ref name=HotelManagementmag> January 21, 2011</ref> In 1996, he formed ],<ref> February 16, 2012</ref> a chain of 72 resort spas, which he hoped to pair up with Hyatt Hotels, but ended up being located entirely in competitors to Hyatt. In 2000, 40% of the company was sold to '']''<ref> May 16, 2000</ref> In 2001, the remaining 60% was sold to ''Steiner Leisure Limited'', a ] (STNR) listed company.<ref name=HotelManagementmag /><ref> July 2, 2001</ref> In 2005, Pritzker founded the private equity firm Geolo Capital with his Mandara business partner Tom Gottlieb;<ref name=WMag /> Geolo Capital focused on investments in hospitality, entertainment, and health & wellness companies.<ref name=ChicagoTribunePritzkerFamily> December 18, 2011</ref> In 2010, he sold his ownership interest in Hyatt to his family.<ref name=ForbesBillionaires /> Geolo Capital purchased a majority interest in the ] boutique hotel chain. In 2011, Geolo Capital merged the 30 hotel Joie de Vivre chain with the Thompson Hotel Group<ref name=ChicagoTribunePritzkerFamily /> and Alila Hotels to form ], where he served as chairman.<ref name=ForbesBillionaires /><ref> February 19, 2012</ref> In January 2016, Commune Hotels merged with Destination Hotels, where Pritzker serves as co-chairman. With the recent merger the new company has over 97 hotels across six brands and annual revenues of over $2.3 billion.<ref>{{Cite web|url = http://www.geolo.com|title = Geolo Capital|website = www.geolo.com|access-date = 2016-04-08}}</ref> | ||
| ==Personal life and philanthropy== | ==Personal life and philanthropy== | ||
Revision as of 08:10, 13 April 2016
| John A. Pritzker | |
|---|---|
| Born | 1953 (age 71–72) Chicago, IL. |
| Nationality | United States |
| Education | B.A. Menlo College |
| Occupation(s) | Investor, Philanthropist |
| Known for | Founder of Commune Hotels & Resorts |
| Spouse | Lisa Stone |
| Children | three |
| Parent(s) | Jay Pritzker Marian "Cindy" Friend |
John A. Pritzker (born 1953), the grandson of A.N. Pritzker and son of Jay Pritzker is an American billionaire and investor. He is a member of the Pritzker family.
Early life and education
Pritzker was born to a Jewish family in Chicago, Illinois, the son of Marian "Cindy" (née Friend) and Jay Pritzker. Jay diversified the Chicago-based family business, the Marmon Group - along with his brothers Robert Pritzker and Donald Pritzker - building it into a portfolio of over 60 diversified industrial corporations. Jay also created the Hyatt Hotel chain in 1957 and owned Braniff Airlines from 1983–1988. The family has been divesting its assets: in 2006, the family sold Conwood, a smokeless tobacco company, for $3.5 billion to cigarette company Reynolds American Inc; in 2007, the family sold control of the Marmon Group to Warren Buffett's Berkshire Hathaway for $4.5 billion; and in 2010, the family sold its majority stake in Transunion, the Chicago-based credit reporting company, for an undisclosed amount to Chicago-based private-equity firm Madison Dearborn Partners.
Career
In 1972, Pritzker started his career working in the family business, Hyatt Hotels, where in 1984, he rose to become Managing Director and Divisional Vice President. In 1988, he left Hyatt to pursue his own entrepreneurial activities including become a founding member of Ticketmaster. In 1996, he formed Mandara Spa, a chain of 72 resort spas, which he hoped to pair up with Hyatt Hotels, but ended up being located entirely in competitors to Hyatt. In 2000, 40% of the company was sold to Shiseido Co. In 2001, the remaining 60% was sold to Steiner Leisure Limited, a Nasdaq (STNR) listed company. In 2005, Pritzker founded the private equity firm Geolo Capital with his Mandara business partner Tom Gottlieb; Geolo Capital focused on investments in hospitality, entertainment, and health & wellness companies. In 2010, he sold his ownership interest in Hyatt to his family. Geolo Capital purchased a majority interest in the Joie de Vivre boutique hotel chain. In 2011, Geolo Capital merged the 30 hotel Joie de Vivre chain with the Thompson Hotel Group and Alila Hotels to form Commune Hotels & Resorts, where he served as chairman. In January 2016, Commune Hotels merged with Destination Hotels, where Pritzker serves as co-chairman. With the recent merger the new company has over 97 hotels across six brands and annual revenues of over $2.3 billion.
Personal life and philanthropy
It is reported that Pritzker donated $15 million to the University of California at San Francisco for new pediatric emergency room facilities at the UCSF Benioff Children's Hospital. The Lisa and John Pritzker Family Fund funds programs focused on children's health and education, civic activities, and Jewish affairs. In 2016 the San Francisco Museum of Modern Art completed a $500 million expansion, which includes the Pritzker Center for Photography.
References
- ^ Forbes: The World's Billionaires - John Pritzker June 2015
- Monterey County Weekly: "Hyatt heir John Pritzker's vision of turning Carmel Valley Ranch into an always-open, everyone-welcome version of summer camp" By Josh Sens may 16, 2013
- CNN Money: "THE PRITZKERS UNVEILING A PRIVATE FAMILY" By Ford S. Worthy April 25, 1988
- ^ Chicago Tribune: "Pritzker family could soon own less than half of Hyatt" By Julie Wernau April 19, 2011
- Geolo Capital: John Pritzker - Founding Partner and Director retrieved July 21, 2013
- ^ W Magazine: "Pritzker's Prize by Jane Larkworthy August 2010
- ^ Hotel Management Magazine: "One on One with John Pritzker" By Ruthanne Terrero January 21, 2011
- BusinessWeek: "A Hyatt Heir Who Thinks Small Is Beautiful" by Nadja Brandt February 16, 2012
- Honolulu star Bulletin: "Spa firm taps Hawaii for worldwide base" By Russ Lynch May 16, 2000
- Travel Weekly: "Steiner Leisure to buy stake in Mandara Spa" July 2, 2001
- ^ Chicago Tribune: "The Pritzker family tree" By Melissa Harris and Julie Wernau December 18, 2011
- San Francisco Gate: John Pritzker, Hyatt heir, likes boutique hotels" by Nadja Brandt February 19, 2012
- "Geolo Capital". www.geolo.com. Retrieved 2016-04-08.