Listen to this articleThe owners of The Capri Southampton, attorneys Mark Geragos and Tina Glandian of Geragos Global, have entered into a joint venture with hotelier Mayank Dwivedi to manage the boutique hotel.
While the transaction closed in the second quarter of this year for an undisclosed amount, the hotel was listed for sale last summer for $29 million, according to published reports.
As part of the new partnership with Dwivedi’s Yankee Hotel Management, The Capri most recently introduced a new food and beverage concept called Ketchy Beach, from the team behind Ketchy Shuby, a restaurant in the SoHo section of Manhattan.
“I am thrilled to partner with Mark Geragos and Tina Glandian on this exciting venture,” Yankee Hotel Management Managing Partner Mayank Dwivedi said in a news release about the partnership.
“Together, we are committed to turning The Capri into a 5-star resort with a top-line focus on making every guest’s experience a memorable one,” Dwivedi added. “Our goal is to make the Capri hotel brand synonymous with luxury lifestyle through pop ups with high-end brands and expansion to new markets in the United States.”
The hotel has 30 guest rooms, including 27 standard rooms and three suites. The hotel also features “The Bathing Club,” which is described as a “poolside retreat,” complete with chaise lounges and daybeds, and where guests can enjoy cocktails.
A real estate investor, Dwivedi spent more than two decades as an investment banker. In 2023, he, along with Irwin Simon, acquired The Maidstone in East Hampton.
Dwivedi plans to add hotels and hospitality ventures to portfolios, both in the Hamptons and elsewhere.