At a time when "hotel" and "foreclosure" have become a fast word association, a string of Bay Area boutique hotels is getting tens of millions of dollars in new capital in order to expand.
San Francisco's Joie de Vivre Hospitality, the second-largest operator of boutique hotels in the country, has entered a "strategic capital partnership" with Geolo Capital, the private equity investment arm of the John A. Pritzker family (yes, the Pritzkers of Hyatt Hotels fame), which will take a controlling interest in Joie de Vivre's 33 Bay Area-operated hotels, including the Galleria Park, Hotel Drisco and Hotel Vitale in San Francisco.
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