Geolo Capital, the private equity investment arm of the John Pritzker family office, and its joint venture partner Wanxiang America Real Estate, recently announced the sale of the Ventana Big Sur, an Alila Resort, to an affiliate of the Hyatt Hotels Corporation for $148 million. The transaction sets a record $2.5 million per-key price for a North American resort.
After acquiring Ventana in 2015, Geolo transformed the property into a financially successful resort. Geolo’s strategy at Ventana was drawn from elements of its playbook from the repositioning of Carmel Valley Ranch, a property it acquired and transformed in 2009.
“We saw substantial unrealized value in controlling 59 of Big Sur’s 100 available full-service guestrooms and understood the potential to raise average daily rates following a comprehensive renovation, rebrand and repositioning,” said John Pritzker, Geolo founding partner and director. “There is an old saying, ‘Always leave the campground better than you found it.’ We’ve been the stewards of Ventana for the past six years and are incredibly proud of the improvements we’ve made to the property.”
The sale marks Geolo’s successful roundtrip investment of the Ventana Big Sur resort as well as its investment in the Alila brand, a company which Geolo acquired in 2014, attached to Ventana in 2017 and sold to Hyatt in 2018.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.