Commune Hotels Begins Mixed-Use Development with 256-key Thompson Seattle to Open in WA in 2016

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. August 07, 2014

San Francisco, CA - August 7, 2014 - Commune Hotels & Resorts, along with Geolo Capital and the Seattle-based real estate firm Touchstone, today jointly announced plans for a ground-up, mixed-use development - inclusive of hotel, residential, and retail components - that will operate under the Thompson Hotels flag as Thompson Seattle. A marker of continued expansion for the sophisticated lifestyle brand, Thompson Seattle will become Thompson Hotels' first property in the Pacific Northwest region of the U.S.

Currently projected to open in spring 2016, Thompson Seattle will be visually conceptualized by architectural teams from Washington-based firms Olson Kundig and Jensen Fey, and interiors firm Munge Leung, under the direction of Commune Hotels' in-house design team. Located in the heart of downtown at the northeast corner of 1st Avenue and Stewart Street, the new building will stand 12 stories high offering unobstructed views of the surrounding Puget Sound and Olympic Mountain Range and will sit adjacent to the world-famous Pike Place Market. Thompson Seattle's desirable location will be ideal for both leisure and business travelers, as well as prospective tenants who crave a well-rounded lifestyle experience, with convenient access to the city's financial center and recreational activities in nearby Lake Union. Thompson Seattle will house 159 guestrooms, 97 residences, a signature, ground-floor restaurant concept, subterranean parking, and an estimated 1,600 square feet of retail space, along with the city's premier rooftop deck with 9,500 square feet of indoor/outdoor space, offering sweeping vistas and an outdoor lounge with a unique area for private events.

"Our entry into the Seattle market is an exciting moment for the Thompson Hotels brand," said Niki Leondakis, CEO of Commune Hotels & Resorts, the international, multi-brand hotel company which manages and operates Thompson Hotels. "We are fortunate to partner with Touchstone, given the company's strong track record in developing commercial real estate in the area. Our joint efforts on Thompson Seattle will allow us to cultivate an environment that resonates with the local community and provide travelers with an authentic Seattle experience."

"We are confident that our partnership with the teams at Thompson Hotels and Geolo Capital will result in an innovative hotel, residential, and retail property in what is a key area of Seattle's urban community," said Douglas Howe, Principal and President of Touchstone. "Together, we have created a vision that will combine the city's energy and culture into a tangible experience."

About Commune Hotels & Resorts

Formed in October 2011, Commune Hotels & Resorts is an international, multi-brand lifestyle hotel management company which manages and operates Thompson Hotels, a luxury lifestyle brand; Joie de Vivre Hotels, a collection of independently branded boutique hotels; and tommie, a new, youthfully-minded brand launching in 2015. The San Francisco-based company manages more than 40 hotels and resorts across the U.S., Canada, and Europe, and is expanding its portfolio while establishing a presence in Mexico. For more information, please visit www.communehotels.com

About Thompson Hotels

Founded in 2001, Thompson Hotels is an international hospitality company that offers sophisticated luxury to its discerning clientele. The Thompson portfolio of lifestyle hotels includes Gild Hall and Smyth Tribeca in New York City; the famed Hollywood Roosevelt Hotel in Los Angeles; the recently opened Thompson Chicago; Thompson Toronto and Belgraves in London. Thompson Hotels also has multiple new projects in development, including Thompson Miami Beach, Thompson Los Cabos and Thompson Playa del Carmen. For more information, please visit www.thompsonhotels.com.

About Touchstone

Formed in 1982, Touchstone is a commercial real estate development company that focuses on sustainable, urban infill projects in the greater Seattle market. Through innovative thinking, flexibility and a solutions-oriented approach, Touchstone develops quality investment grade projects that add long term value to the community. The strategy is to identify and build projects in high-growth, employment-driven markets. Touchstone has developed several million square feet of commercial office and technology office, as well as retail and hotels. Recent Seattle projects include the West 8th Office Building and the 9th & Stewart Life Sciences Building. Seattle projects under construction include the TROY Office Campus and the mixed -use Hill7 Office & Hilton Garden Inn Hotel. www.touchstonecorp.com.

About Geolo Capital

San Francisco-based Geolo Capital is the private equity investment arm of the John A. Pritzker family, continuing a four generation unmatched record of creating, investing in and building a diversified portfolio of consumer-focused companies. The Geolo Capital team has a long history of investing in branded consumer companies. From its legacy involvement helping to grow Ticketmaster, to founding Mandara Spa, to the company's recent investment in Carmel Valley Ranch, Geolo Capital's mission is to cultivate enduring, world-class brands in four core industries - hospitality, entertainment, health and wellness, and consumer products. Geolo combines operational expertise, strategic vision, and highly targeted capital to create long-term value for the companies in which it invests. For more information, please visit www.geolo.com.