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Billionaire Thomas Pritzker said he has stepped down as chairman of Hyatt Hotels after documents released by the US Department of Justice revealed his ties to Jeffrey Epstein. In a statement on Monday, Pritzker acknowledged he had shown “terrible judgement” by maintaining contact with the convicted sex offender. Newly released files indicate Pritzker was in regular contact with Epstein in the years following Epstein’s 2008 plea deal.
Pritzker is the latest business figure to face scrutiny after the release of files showing the extent of Epstein's network of high-profile elites.
Pritzker, who has held the role of executive chairman at the global hotel chain since 2004, said he decided to step down after discussions with fellow board members and would not stand for re-election.
"My job and responsibility is to provide good stewardship... Good stewardship includes ensuring a proper transition at Hyatt", said Pritzker, the billionaire heir to the hotel chain's fortune.
He said: "Good stewardship also means protecting Hyatt, particularly in the context of my association with Jeffrey Epstein and Ghislaine Maxwell which I deeply regret."
Maxwell was convicted in 2021 for her role in luring underage girls for Epstein.
He was convicted in 2008 for soliciting prostitution from a child and died while in custody facing sex trafficking charges in 2019.
Pritzker said he condemned the actions of the pair, adding: "There is no excuse for failing to distance myself sooner.”
His statement was paired with a letter to the board, in which Pritzker points out that he will be 76 this year and that the company is in a "strong and sustainable position" with the strength to thrive.
The board named Mark Hoplamazian, Hyatt's president and chief executive, to take over from Pritzker as chairman.
Hoplamazian said Pritzker's decision "reflects his stewardship and strong commitment" to Hyatt over decades of service.
