Joie de Vivre Announces First Hotel Outside California | signs management contract for Scottsdale property

Joie de Vivre Hospitality signed an agreement with New York-based owner Sydell Group to manage the Hotel Theodore in Scottsdale, Arizona. The 195-room property will be reconceived and relaunched as a Joie de Vivre hotel in the fall following a significant renovation. Joie de Vivre currently operates 34 hotels in California, and the Scottsdale property will be its first outside the state.

Sydell Group, formerly GFI Development Company, is the owner and developer of Ace Hotel New York, Ace Hotel & Swim Club in Palm Springs and The Nomad Hotel in New York, which is currently under construction. Sydell Group purchased the Hotel Theodore for an undisclosed sum.

The hotel is located in the center of the Old Town Scottsdale arts and entertainment district. With its central location in Scottsdale's lively downtown, the hotel first came to national acclaim in 2004 when it was renovated and debuted as the popular and first James Hotel. It was then sold to Morgans Hotel Group and relaunched as the Mondrian Scottsdale in 2007.

Sydell Group and Joie de Vivre will focus renovation and rebranding plans on embracing the property's Southwestern roots in order to give the hotel a true sense of place. The relaunched hotel will feature a new restaurant concept that opens onto Scottsdale's beautiful greenbelt and the Scottsdale Performing Arts Center; two indoor/outdoor bars; 5,000 square feet of meeting and event space; two swimming pools (and pool bar), and a lushly landscaped resort campus in the most privileged location in downtown Scottsdale. The relaunched hotel will embrace local Scottsdale residents and appeal to out-of-town guests alike.

About Sydell Group
Sydell Group is a New York based owner, developer and manager of lifestyle oriented hotels. Formerly the GFI Development Company, Sydell focuses its efforts upon innovative hotels with unique food and beverage concepts. Sydell Group actively engages the communities in which its properties are located seeking to create a social anchor for local residents and a hospitality experience reflective of each property's specific geography for travelers. Sydell Group is very pleased to be partnering with Joie de Vivre on this special asset. Andrew Zobler, CEO, formed Sydell in 2005 in partnership with Allen Gross, founder and CEO of GFI Capital Resource Group. In the past five years, Sydell has successfully developed and opened the Ace Hotel New York and the Ace Hotel & Swim Club in Palm Springs. Sydell is currently developing The Nomad Hotel in New York City with a planned opening in the first quarter of 2012. Mr. Zobler was formerly Senior Vice President, Acquisitions & Development for Starwood in North America as well as Chief Investment Officer and partner at Andre Balazs Properties.