Joie de Vivre Hospitality
Encyclopedia
Joie de Vivre Hospitality, a hotel and restaurant company based in San Francisco, California
, is the second largest operator of boutique hotel
s in the United States.
, then 26, after he became "disillusioned" with the corporate real estate market 2½ years out of Stanford Business School. Conley raised $1 million in 1987 to buy the decrepit Phoenix Hotel in San Francisco's Tenderloin
neighborhood, where he opened the landmark restaurant Miss Pearl's Jam House with Joey Altman
. Conley modeled the name after Esprit
, the clothing company then based in San Francisco. Initially targeting traveling rock bands, musicians, and filmmakers, Conley met with travel agents throughout the United States, modeled the hotel's concept after Rolling Stone Magazine, and offered tour manager
s free massages to induce them to book their bands' stays at the Phoenix. A popular but not financial success, the hotel quickly began to attract nationally-known entertainers such as David Bowie
, Linda Ronstadt
, and Johnny Depp
, even though the hotel was essentially a low budget 1950s era motel
. With support from investors, Conley bought a series of moderately sized, often run-down buildings, which he turned at low cost into boutique hotels, in each case creating a different "psychographic
" concept such as new age wellness, men's health, romance novels, New Yorker Magazine, or luxury camping.
Conley's company, JDV, which had been based entirely in San Francisco, suffered a substantial downturn after 9/11 and the dot com crash, which affected San Francisco more than most other hospitality markets. With 22 capital call
s from investors, and cuts in executive salaries, the company survived and rather than closing poorly performing properties or laying off staff, took advantage of lower commercial real estate prices to expand throughout California. The company also began to take over and control its hotel restaurants, in order to reduce risk. As of 2008 the company owns more than 30 hotels, manages 6 others, and also operates 18 restaurants, all within California. Among the most famous is the Ventana Inn in Big Sur, California. The Hotel Vitale, on San Francisco's waterfront, is the first new hotel the company built, rather than bought from a previous owner. The company also expanded into managing hotels and condominium amenities for other owners.
In 2010, a majority stake of Joie de Vivre was purchased by Geolo Capital, the private equity firm founded by Hyatt Hotels heir John Pritzker. A $150 million fund to acquire additional hotels was established as part of the deal, with plans to acquire $300 to $500 million in hotels over a three to five-year period.
In September 2010, Joie de Vivre announced Gary M. Beasley, a partner at Geolo Capital, as the new chief executive officer of Joie de Vivre. With this appointment, founder Chip Conley became executive chairman and chief creative officer.
Starting in 2005 with Hotel Angeleno in Los Angeles, Joie de Vivre began expansion into Southern California, and in 2009 opened Shorebreak Hotel in Huntington Beach, Hotel Erwin in Venice Beach, and Pacific Edge Hotel in Laguna Beach.
In 2011, Joie de Vivre expanded outside of California converting the Hotel Theodore in Scottsdale, Arizona
into The Drinkwater.
San Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
, is the second largest operator of boutique hotel
Boutique hotel
Boutique hotel is a term popularized in North America and the United Kingdom to describe intimate, usually luxurious or unique hotel environments. Boutique hotels differentiate themselves from larger chain/branded hotels and motels by providing personalized accommodation and services / facilities...
s in the United States.
History
The company was founded in 1987 by Chip ConleyChip Conley
Chip Conley is an American hotelier, author and speaker. Conley is the founder, Executive Chairman and Chief Creative Officer of , which he began in 1987 at age 26...
, then 26, after he became "disillusioned" with the corporate real estate market 2½ years out of Stanford Business School. Conley raised $1 million in 1987 to buy the decrepit Phoenix Hotel in San Francisco's Tenderloin
Tenderloin, San Francisco, California
The Tenderloin is a neighborhood in downtown San Francisco, California, in the flatlands on the southern slope of Nob Hill, nestled between the Union Square shopping district to the northeast and the Civic Center office district to the southwest...
neighborhood, where he opened the landmark restaurant Miss Pearl's Jam House with Joey Altman
Joey Altman
Joey Altman is an American chef, restaurateur, TV host and writer.-Personal History:Altman grew up in the Catskills in New York, where his mother worked at Grossinger's Catskill Resort Hotel...
. Conley modeled the name after Esprit
Esprit Holdings
Esprit Holdings Limited is a publicly owned manufacturer of apparel, footwear, accessories, jewellery and housewares under the Esprit label. The company is headquartered in Kowloon, Hong Kong, and Ratingen , Germany. In the 2007–2008 business year, Esprit Holdings Limited generated a worldwide...
, the clothing company then based in San Francisco. Initially targeting traveling rock bands, musicians, and filmmakers, Conley met with travel agents throughout the United States, modeled the hotel's concept after Rolling Stone Magazine, and offered tour manager
Tour Manager
A tour manager is the person who helps to organize the administration for a schedule of appearances of a musical group or artist at a sequence of venues .-Background:...
s free massages to induce them to book their bands' stays at the Phoenix. A popular but not financial success, the hotel quickly began to attract nationally-known entertainers such as David Bowie
David Bowie
David Bowie is an English musician, actor, record producer and arranger. A major figure for over four decades in the world of popular music, Bowie is widely regarded as an innovator, particularly for his work in the 1970s...
, Linda Ronstadt
Linda Ronstadt
Linda Ronstadt is an American popular music recording artist. She has earned eleven Grammy Awards, two Academy of Country Music awards, an Emmy Award, an ALMA Award, numerous United States and internationally certified gold, platinum and multiplatinum albums, in addition to Tony Award and Golden...
, and Johnny Depp
Johnny Depp
John Christopher "Johnny" Depp II is an American actor, producer and musician. He has won the Golden Globe Award and Screen Actors Guild award for Best Actor. Depp rose to prominence on the 1980s television series 21 Jump Street, becoming a teen idol...
, even though the hotel was essentially a low budget 1950s era motel
Motel
A motor hotel, or motel for short, is a hotel designed for motorists, and usually has a parking area for motor vehicles...
. With support from investors, Conley bought a series of moderately sized, often run-down buildings, which he turned at low cost into boutique hotels, in each case creating a different "psychographic
Psychographic
In the fields of marketing, demographics, opinion research, and social research in general, psychographic variables are any attributes relating to personality, values, attitudes, interests, or lifestyles. They are also called IAO variables...
" concept such as new age wellness, men's health, romance novels, New Yorker Magazine, or luxury camping.
Capital call
A capital call is a legal right of an investment firm or an insurance firm to demand a portion of the money promised to it by an investor...
s from investors, and cuts in executive salaries, the company survived and rather than closing poorly performing properties or laying off staff, took advantage of lower commercial real estate prices to expand throughout California. The company also began to take over and control its hotel restaurants, in order to reduce risk. As of 2008 the company owns more than 30 hotels, manages 6 others, and also operates 18 restaurants, all within California. Among the most famous is the Ventana Inn in Big Sur, California. The Hotel Vitale, on San Francisco's waterfront, is the first new hotel the company built, rather than bought from a previous owner. The company also expanded into managing hotels and condominium amenities for other owners.
In 2010, a majority stake of Joie de Vivre was purchased by Geolo Capital, the private equity firm founded by Hyatt Hotels heir John Pritzker. A $150 million fund to acquire additional hotels was established as part of the deal, with plans to acquire $300 to $500 million in hotels over a three to five-year period.
In September 2010, Joie de Vivre announced Gary M. Beasley, a partner at Geolo Capital, as the new chief executive officer of Joie de Vivre. With this appointment, founder Chip Conley became executive chairman and chief creative officer.
Starting in 2005 with Hotel Angeleno in Los Angeles, Joie de Vivre began expansion into Southern California, and in 2009 opened Shorebreak Hotel in Huntington Beach, Hotel Erwin in Venice Beach, and Pacific Edge Hotel in Laguna Beach.
In 2011, Joie de Vivre expanded outside of California converting the Hotel Theodore in Scottsdale, Arizona
Scottsdale, Arizona
Scottsdale is a city in the eastern part of Maricopa County, Arizona, United States, adjacent to Phoenix. According to the U.S. Census Bureau, as of 2010 the population of the city was 217,385...
into The Drinkwater.
External links
- jdvhotels.com - Joie De Vivre Hospitality Official Website
- chipconley.com - Chip Conley, Founder, Executive Chairman, and Chief Creative Officer of Joie de Vivre Hospitality