Thomas J. Pritzker, the longtime executive chairman of Hyatt Hotels Corporation, announced his immediate retirement on February 16, 2026, in a move that reverberated through the hospitality industry and corporate America at large. The decision, which comes after more than four decades of leadership and stewardship at the company founded by his family, was prompted by a mix of personal reflection, corporate responsibility, and the recent release of documents detailing his association with convicted sex offender Jeffrey Epstein and his accomplice Ghislaine Maxwell.
Pritzker, who turns 76 in June, has been a central figure at Hyatt since 1980, serving as executive chairman since 2004. His tenure saw the company expand into a global powerhouse, with more than 1,500 hotels and all-inclusive properties in 83 countries by the end of 2025, according to a statement from Hyatt. Under his guidance, Hyatt not only broadened its international footprint but also strengthened its asset-light business model, delivering long-term value for shareholders and cementing its reputation as a leader in hospitality. The company’s current market capitalization stands at $15.6 billion, and its stock has surged over 16% in the past year, as reported by Investing.com.
Yet, it was not business performance that dominated headlines this week. Instead, Pritzker’s retirement letter and accompanying statements focused on the fallout from his past connection to Epstein and Maxwell. “I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner,” Pritzker wrote in a statement released by the Pritzker Organization and cited by multiple outlets including Business Wire and Dow Jones. “I condemn the actions and the harm caused by Epstein and Maxwell and I feel deep sorrow for the pain they inflicted on their victims.”
The timing of Pritzker’s departure coincides with the public release of thousands of documents and emails by the Department of Justice, which shed new light on his relationship with Epstein. These files revealed that Pritzker and Epstein exchanged friendly emails even after Epstein’s 2008 guilty plea to state criminal charges involving soliciting prostitution from a minor, as reported by The Wall Street Journal. Communications between Pritzker and Maxwell also surfaced, including a 2003 exchange in which Maxwell described a dinner party with models working as servers. Pritzker, in response, suggested, “This would be far more fun,” proposing that guests serve while the models attended the dinner as guests.
Further, the documents detailed meetings and correspondence between Pritzker and Epstein spanning multiple years, with several meetings scheduled as recently as 2018. While the release of these files does not imply criminal wrongdoing on Pritzker’s part, the association has drawn intense scrutiny—especially in light of similar resignations by other prominent business leaders, such as former Goldman Sachs legal chief Kathryn Ruemmler and Paul Weiss chair Brad Karp, both of whom cited their Epstein ties as distractions for their organizations.
Pritzker’s statement was clear in its contrition and its intent to protect Hyatt’s reputation. “My job and responsibility is to provide good stewardship. That is important to me,” he wrote, adding, “Good stewardship includes ensuring a proper transition at Hyatt.” He also acknowledged his age and the practical realities of board service: “Standing for reelection would commit me to another three years leading a public company.”
The Hyatt board moved swiftly to implement its succession plan. Mark S. Hoplamazian, the company’s President and Chief Executive Officer, was appointed Chairman of the Board effective immediately, taking on a combined role. Board member Richard Tuttle, chair of the Nominating and Corporate Governance Committee, expressed gratitude for Pritzker’s leadership, saying, “Tom’s leadership has been instrumental in shaping Hyatt’s strategy and long-term growth, and we thank him for his service and dedication to Hyatt.” Tuttle added, “The Board has engaged in thoughtful succession planning, and we are confident that Mark’s deep knowledge of Hyatt’s business, strong relationships with owners and colleagues, and proven track record as CEO of nearly two decades positions him well to serve as Chairman and continue driving Hyatt’s long-term success.”
Hoplamazian, who has led Hyatt as CEO since 2006, acknowledged the responsibility ahead. “I am honored by the Board’s confidence and look forward to serving as Chairman,” he stated in the company’s official release. “Tom’s decision reflects his stewardship and strong commitment to Hyatt over his many decades of service. Looking ahead, we remain focused on executing our strategy for long-term growth, advancing care for our colleagues, delivering meaningful experiences for our guests, and driving performance for owners and value for our stockholders.”
Pritzker, for his part, expressed confidence in the company’s future. “Hyatt is well positioned for the future, and I have great confidence in Mark, our leadership team, and the Board as they continue to build on our strong foundation,” he said. He also indicated that he will now devote more time to his foundation work with his wife Margot, their family office, and other ongoing projects, while remaining available to support Hyatt as needed.
The Pritzker family’s connection to Hyatt stretches back 70 years, and Thomas Pritzker’s own involvement spans 45 years. His departure, though tinged with regret and controversy, comes at a time when the company is financially robust. Hyatt’s fourth quarter 2025 earnings per share reached $1.33, dramatically surpassing analyst expectations of $0.37—a 259.46% surprise. However, revenue for the quarter was $1.79 billion, just shy of the $1.81 billion forecast. In response to the earnings report, Stifel raised its price target for Hyatt stock to $170 from $164, maintaining a Hold rating, as noted by Investing.com.
Industry analysts and observers have noted the broader implications of Pritzker’s resignation. The recent spate of high-profile departures linked to the Epstein scandal has reignited conversations about corporate governance, transparency, and the ethical responsibilities of business leaders. For Hyatt, the transition marks both an end and a beginning—a chance to reaffirm its values and strategic direction under new leadership.
As the company moves forward, it does so with a reinforced commitment to its stated purpose: “to care for people so they can be their best.” For Thomas J. Pritzker, the decision to step down was, in his words, “both an honor and one of the great experiences of my life to have contributed to Hyatt’s growth.” The company, now under the stewardship of Mark Hoplamazian, faces the future with a blend of hard-earned wisdom and renewed resolve.