Powerful Multi-Brand Lifestyle Hotel Group Poised for Global Growth

Thompson Hotels, an international collection of 12 luxury lifestyle hotels, and Joie de Vivre Hospitality, the most influential boutique brand in the West, announced they have merged. It is the first step in the creation of a multi-brand lifestyle hotel group with a global footprint. The new group, provisionally called JT Hospitality, will be formally renamed early next year in concert with the completion of a comprehensive joint branding exercise that is currently underway.

“Fifteen months ago we said we would leverage our hospitality platform to nearly double Joie de Vivre’s annual revenues and the number of hotels in the collection within five years”

Thompson Hotels and Joie de Vivre Hospitality are equal partners in the merger, which took effect Oct. 1, 2011, and encompasses hotel-management operations and brands but not real estate assets. With the consolidation, the new hotel group manages 45 properties under the distinctive Thompson and Joie de Vivre brands with combined annual hotel revenues of approximately $500 million. The company will be based in New York City and Thompson Hotels CEO and Co-owner Stephen Brandman has been named CEO. Hospitality veteran John Pritzker, whose private equity firm Geolo Capital acquired a majority stake in Joie de Vivre in June of last year, will serve as co-chairman alongside Jason Pomeranc, the creative vision behind Thompson Hotels and one of its co-owners.

JT Hospitality plans to further expand the two brands domestically and internationally through management contracts, acquisitions and joint ventures. The company, which manages Carmel Valley Ranch and Ventana Inn & Spa, will also add additional luxury resorts and introduce a resort brand. With the merger, the Thompson brand gains access to Geolo Capital’s earlier commitment of a $150 million fund dedicated to hotel acquisitions and co-investments. As a result of the fund, Joie de Vivre has made significant headway on its expansion, acquiring two hotels and a development site in Manhattan, as well as signing up several new management contracts, including hotels in Scottsdale and Chicago, which represent the company’s first forays outside of California.

“Fifteen months ago we said we would leverage our hospitality platform to nearly double Joie de Vivre’s annual revenues and the number of hotels in the collection within five years,” said Pritzker. “By merging with Thompson Hotels we are on track to reach that goal well ahead of schedule. More importantly, the merger will accelerate the growth of both brands, which will benefit from significant capital resources, greater distribution, economies of scale, and collective expertise.”

“It’s exciting to take on the challenge with John of formulating the strategic vision and direction for the new company,” said Pomeranc. “We will be able to take the sensibilities and cultures of the two brands and spread them across different sectors and offer more accessibility with the various price points. Our owners will get the benefits of working with a bigger brand but still get the individuality of an independent.”

Thompson benefits from Joie de Vivre’s dominant West Coast presence and Geolo Capital’s significant investments in Joie de Vivre’s infrastructure and its hospitality investment expertise. Joie de Vivre gains wider exposure and distribution through Thompson’s international expansion in London and Toronto and its strong presence on the East Coast, where the company has five hotels in Manhattan, one in Washington, D.C., and one in Miami.

In addition to geographic diversity, the two brands complement each other in positioning. Joie de Vivre operates 33 properties and is known for casual, eclectic boutique hotels and resorts with inventive design that span the price spectrum from budget to luxury and Thompson operates luxury lifestyle hotels in major urban centers that are design-driven. Both brands are focused on providing guests an immersive experience rooted in each hotel’s unique location.

The new parent company will be formally introduced in the first quarter of 2012 when the global branding strategy is rolled out. JT Hospitality CEO and Co-owner Brandman will oversee the operations and integration of the two companies and split his time between the company’s New York and San Francisco offices. “I look forward to working with the Joie de Vivre team. We will be bringing the two businesses together and intend to be fully integrated within the next three to six months,” said Brandman.

Gary Beasley, who has been serving as interim CEO of Joie de Vivre since September 2010, will return to Geolo Capital to focus on business development for JT Hospitality. The Joie de Vivre brand will continue to be run day-to-day out of San Francisco by Joie de Vivre President and COO Ingrid Summerfield.

Chip Conley, Joie de Vivre’s founder, will retain a significant equity stake in the new company and remain involved as a strategic advisor. “I’m thrilled that with the marriage of JdV and Thompson Hotels the spirit of the Joie de Vivre brand will be growing on a global scale and that the investors and owners who have been the mainstays of our company will enjoy the benefits of the distribution this growth will bring. I look forward to helping in any way that benefits JT Hospitality,” said Conley.

Thompson Hotels Co-founders Michael and Lawrence Pomeranc will each be significant owners in JT Hospitality and continue to develop properties for JT Hospitality as well as sit on the company’s Advisory Board.

“We are extremely excited at the unique opportunities that this merger presents for potential global expansion,” said Lawrence Pomeranc. That sentiment was echoed by Michael Pomeranc, who said “We look forward to continuing the family’s long history of real estate development with lodging projects in exciting new markets.”

Studio Gaia is taking on hotel giant Thompson Hotels for their latest addition in Seoul. The luxury boutique hotel is scheduled to open this coming year along the bank of the Han River, next to Han Riverside Park, boasting amazing views of the Seoul skyline! The hotel and its 100 guestrooms will fuse Western boutique style and amenities with Korean touches, making it an ideal place to experience this up-and-coming tourist destination. The hotel will feature a lush, eco-friendly garden space that is connected to the park, rooftop pool, and several dining establishments and will exhibit one-of-a-kind art from internationally renowned artists – bringing Thompson’s ‘Urban Luxury’ to Seoul. More images here

Luxury hotel brand’s first European outpost set to open in summer 2011

Thompson Hotels, an elite collection of service and design-driven hotels in major urban centers, has proudly announced its transatlantic expansion with the planned addition of Belgraves, a Thompson Hotel to its portfolio.  In a joint venture with The Harilela Group, Belgraves is scheduled to open in summer 2011 in London’s affluent and international Belgravia neighborhood, featuring bold interior architecture and design by acclaimed British designer, Tara Bernerd and architectural design by EPR Architects.  The 85-room hotel will include an 80-seat signature restaurant, an intimate library bar and a fitness center, offering a seductive oasis in the heart of Central London.  The chic and eclectic lobby is set to become a second home for both hotel guests and London’s glitterati alike.

“Our first hotel, 60 Thompson in NY, was ideologically based on the intimacy of British hotels,” said Jason Pomeranc, co-owner of Thompson Hotels.  ”They have always been an inspiration to our brand, particularly those of London, and the British traveler has been very supportive of our US hotels.  London is a natural transition for the Thompson brand.  The opening of Belgraves brings us full circle.”

Blending traditional British hospitality with an American bohemian attitude, Belgraves will interpret the Thompson luxury experience in London, joining the on-going creative movement in design, dining and art that is currently forging the “new Britannia”.

“Thompson Hotels is known for offering unique experiences and first-rate service in stylish, urban areas,” said Stephen Brandman, co-owner of Thompson Hotels.  ”I am delighted to extend this reputation to the European market.  Whether staying at Thompson LES or Smyth in NY, the Hollywood Roosevelt Hotel in LA or Belgraves in London, guests will rest assured that they will receive the same high level of service that defines the Thompson brand.”

Business and leisure travelers will delight in Belgraves’ attention to privacy, personalized amenities and thoughtful design.  Working closely with progressive interior architect and designer, Tara Bernerd, Thompson Hotels has set out to create a luxurious home away from home in the desirable Belgravia district, just minutes from London’s renowned shops, sites and the bustling Sloane Square.

“Belgraves is iconic for location alone.  Combining this with the opportunity of working with the forward-thinking and design-savvy Thompson Hotels, has magnified the appeal of the project and allows us all as a team to create a very seductive hotel,” commented Tara Bernerd.  ”We intend on creating a rich, eclectic and tactile design that combines traditional elegance with a modern architectural language.”

“Thompson Hotels has a style that London is calling for,” said Dr. Aron Harilela.  ”There is a niche in the market that is waiting to be filled and I believe we have found the perfect match.  I am confident that bringing Thompson Hotels to the heart of Belgravia in creating Belgraves, we will reinvigorate the area, giving Londoners what they have been looking for and international travelers a slice of the new London.”