Billionaire Thomas Pritzker has announced that he will be stepping down as the executive chairman of Hyatt Hotels. The news comes after newly disclosed US justice department files revealed his association with convicted sex offender Jeffrey Epstein.
The 75-year-old, who has held the role since 2004, said on Monday that he would not seek re-election to the company’s board in 2026. In a statement, Pritzker addressed his past contact with Epstein and Ghislaine Maxwell, expressing regret over the relationship. “Good stewardship also means protecting Hyatt, particularly in the context of my association with Jeffrey Epstein and Ghislaine Maxwell which I deeply regret,” he said, adding, “I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner.”
The newly released records indicate that Pritzker remained in recurring contact with Epstein even after the financier’s 2008 guilty plea to prostitution charges, including soliciting an underage girl. One exchange from 2018 shows Epstein seeking Pritzker’s help with hotel reservations for a woman travelling through Asia who was reportedly his girlfriend. When Pritzker asked about her plans, the woman responded by email, “Going to try to find a new girlfriend for Jeffrey.” Pritzker replied, “May the Force be with you,” accompanied by a smiley face emoji, according to CNN.
Pritzker is among several influential figures facing consequences as the US justice department moves towards more disclosures. Economist Larry Summers was banned for life from the American Economic Association over his ties to Epstein, while Sultan Ahmed bin Sulayem, head of DP World, was replaced over his intimate friendship with the financier. Other global figures have also encountered public backlash and various repercussions linked to their relationships with him.
During his time at Hyatt, Pritzker reached key milestones including taking the company public, implementing an “asset-light” strategy and guiding the business through the COVID-19 pandemic.
Following his resignation, Hyatt’s board appointed Mark Hoplamazian, the company’s president and chief executive, as chairman with immediate effect.
