John Pritzker building new hotel in Seattle

John Pritzker's Commune Hotels & Resorts and his Geolo Capital are participating in a joint venture with a Seattle developer for a $104 million lodging and residential project in downtown Seattle, adjacent to Pike Place Market,

Bloomberg reported.

The property will include a luxury Thompson hotel, the brand's first in the Pacific Northwest, the article said.

Pritzker, the son of the late founder of the Hyatt Hotels Corp. chain, bought the 50% of Commune Hotels that he didn't already own last year, the article said. Commune owns the Thompson and Joie de Vivre hotel brands. (Source: Bloomberg, Aug. 1, 2014.)