Hyatt Hotels Corporation is an American international company and operator of hotels. The Hyatt Corporation came into being upon purchase of the Hyatt House, at Los Angeles International Airport, on September 27, 1957. In 2014, Fortune magazine listed Hyatt as the 95th-best U.S. company to work for.
The original owners were entrepreneurs Hyatt Robert von Dehn and Jack Dyer Crouch; after a few years, Von Dehn sold his share in the hotel to entrepreneur Jay Pritzker. Jay's younger brother Donald Pritzker also took on an important role in the company.
Over the following decade, acquisitions were made, and Hyatt became the fastest-growing hotel chain in the United States. Donald died in 1972; Jay continued to run the company.
In 1969, Hyatt opened its first hotel outside the United States, the Hyatt Regency Hong Kong.[dead link] In 1980 the Grand Hyatt and Park Hyatt brands were introduced. Hyatt runs resort hotels, starting with the Hyatt Regency Maui in 1980. As of 2012[update] Hyatt had over 490 hotels worldwide.
In June 2004, substantially all of the hospitality assets owned by Pritzker family business interests, including Hyatt Corporation and Hyatt International Corporation, were consolidated under a single entity called Global Hyatt Corporation. On June 30, 2009, Global Hyatt Corporation changed its name to Hyatt Hotels Corporation.
In December 2004 Hyatt Hotels Corporation acquired AmeriSuites, an upscale chain of all-suite business class hotels from affiliates of the Blackstone Group, a New York-based private equity investment firm. Blackstone had inherited AmeriSuites from its 2004 acquisition of Prime Hospitality. The AmeriSuites chain was rebranded and called Hyatt Place, a competitor to the limited-service products Marriott International's Courtyard by Marriott and Hilton Worldwide's Hilton Garden Inn.
In December 2005 Hyatt acquired limited service company Summerfield Suites from the Blackstone Group. Blackstone had inherited Summerfield Suites from its purchase of Wyndham International. According to a Hyatt press release, in January 2012 Hyatt Summerfield Suites were rebranded as Hyatt House to compete in the "upscale extended stay market" against Residence Inn, Homewood Suites and Staybridge Suites.
In August 2009 it was reported that Hyatt Hotels Corporation filed plans to raise up to $1.15 billion in an initial share sale. That November Hyatt completed an initial public offering and began trading publicly on the New York Stock Exchange under the symbol H. According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman. The public offering is a result of the acrimonious breakup of the Pritzker family empire. Accused of looting family trusts, Thomas and cousins Penny and Nicholas took control of the family businesses when they and other family members were sued by cousin Liesel Pritzker, claiming fraud and seeking damages of over US$6 billion.
As of 31 March 2013[update] Hyatt Corporation's worldwide portfolio consisted of 508 properties. On September 1, 2011, Hyatt acquired Hotel Sierra, which has 18 properties in 10 states. Along with Hyatt Summerfield Suites hotels, several of these properties were rebranded as Hyatt house in January 2012.
Hyatt Hotels Corporation operates several chains. The Human Rights Campaign (HRC) awarded the company 100% in the HRC Equality Index for eight consecutive years. The Hyatt Regency brand is the oldest brand in the company, with the Grand Hyatt and Park Hyatt brands being introduced in 1980. Some of these are styled as "resort" properties, and may have spas or other recreational facilities. Other brands include Hyatt Place, designed as a limited service offering for business travelers. An extended stay chain, Summerfield Suites, was acquired by Hyatt in 2005, and was renamed Hyatt House in January 2012. Hyatt launched the Andaz brand in April 2007. The first Andaz hotel was The Great Eastern Hotel in London, followed by hotels in San Diego, West Hollywood, Shanghai and New York City (Andaz Wall Street & Andaz 5th Avenue).
Park Hyatt are luxury Hyatt hotels, mid-sized hotels in cities considered premier destinations.
Andaz hotels are higher-priced boutique-style hotels.
Grand Hyatt hotels are large higher-priced hotels in major cities and holiday destinations.
Hyatt Regency hotels are large premium hotels intended for both leisure and business travelers, including those attending conventions, located in urban, suburban, airport, convention and resort destinations around the world.
Hyatt hotels are smaller full-service hotels with 150 to 350 rooms located close to major business centers.
HYATT CENTRIC is a new, full service lifestyle brand designed for business and leisure travelers.
Hyatt owns several vacation resorts, including beach, mountain, desert, golf and spa properties with the Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, and Hyatt brands.
Hyatt Place hotels are mid-sized hotels catering for family and business travelers, in urban, airport and suburban areas.
Hyatt operates a higher-priced timeshare program, known as Hyatt Residence Club, through Hyatt Vacation Ownership, Inc. As of 2014[update] it had over a dozen locations, some within or connected to Hyatt hotels. The group also runs a chain of higher-priced retirement homes named Vi Living and offers retail home décor and furnishings through Hyatt at Home, a luxury online store.
Atlanta: The Hyatt Regency Atlanta, the first Hyatt Regency hotel, was built in 1967 and was the first contemporary atrium hotel in the world. As of 2014[update] it was the only major downtown Atlanta hotel with a front drive on Peachtree Street. Architect John Portman designed the building.
Bandung: Hyatt Regency Bandung Hotel is a five-star hotel in the highland city of Bandung, Indonesia.
Chicago: At 2019 rooms, The Hyatt Regency Chicago is the seventh-largest non-gaming hotel in the world, with the largest freestanding bar in the world.
Colombo: The Hyatt Regency Colombo (now Grand|Hyatt Colombo) which is under construction is the first Hyatt hotel in Sri Lanka. Its name has been changed three times from Hyatt Celestial to Hyatt Regency Colombo and finally to Grand|Hyatt Colombo. It is expected to open in the third quarter of 2015.
Seoul: The Grand Hyatt Seoul opened in 1978 as Hyatt Regency Seoul and is one of the oldest Hyatts in Asia. Is the only fully Hyatt-owned hotel in the Asia-Pacific. The hotel is in Seoul's Namsan area, where further development is not allowed.