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was the principal factor in bringing Hyatt Corp. and the owners
of the Embarcadero Hotel together and aiding in the negotiations.
Over the period from about 1972 through 1994, Prudential
eventually built a total of about 10 large, major-convention-size
hotels that Hyatt Corp. managed for it. During discussions about
Hyatt Corp.'s obtaining the management contract on one of the
first of these other hotels built after the Embarcadero Hotel,
Pritzker discussed Weaver's finder's fee with respect to the
Embarcadero Hotel's management contract with Ballard and Lisle.
Pritzker told Ballard and Lisle that Hyatt Corp.'s payment of
this finder's fee was a one-time occurrence. Pritzker told them
that no similar finder's fees would be paid with respect to
future management contracts that Hyatt Corp. obtained for other
Prudential hotels.
The Embarcadero Hotel opened in May 1973. In early 1975, a
dispute arose between Weaver and Hyatt Corp. with regard to the
commission due for 1974. A Hyatt Corp. official informed Weaver
that the Embarcadero Hotel did not generate a net profit for
1974. Weaver claimed that Hyatt Corp. was entitled to $623,201
under its agreement with Prudential and that he was entitled to
10 percent of those fees. Pritzker responded that Weaver's share
of the fees should bear his share of the home office expenses.
By November of 1975, Weaver and Hyatt Corp. had settled the
dispute.
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