Hyatt

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Hyatt Hotels Corporation
TypePublic
Traded asNYSEH
IndustryHospitality
HeadquartersHyatt Center
Chicago, Illinois
United States
Key peopleThomas J. Pritzker[1]
(Executive chairman)
Mark S. Hoplamazian[1]
(President and CEO)
ProductsHotels
RevenueIncrease US$3.95 billion (2012)
Net incomeIncrease US$88 million (2012)
Employees75,008 (2013) [2]
WebsiteHyatt Hotels & Resorts
Footnotes / references
[3][4]
 
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For other uses, see Hyatt (disambiguation).
"Park Hyatt" redirects here. For the Park Hyatt on Michigan Avenue in Chicago, see Park Tower (Chicago).
Hyatt Hotels Corporation
TypePublic
Traded asNYSEH
IndustryHospitality
HeadquartersHyatt Center
Chicago, Illinois
United States
Key peopleThomas J. Pritzker[1]
(Executive chairman)
Mark S. Hoplamazian[1]
(President and CEO)
ProductsHotels
RevenueIncrease US$3.95 billion (2012)
Net incomeIncrease US$88 million (2012)
Employees75,008 (2013) [2]
WebsiteHyatt Hotels & Resorts
Footnotes / references
[3][4]
Hyatt Regency in Hong Kong (left)

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 US company to work for.[5]

History[edit]

The New owner entrepreneur Jay Pritzker after a few years; Jay's younger brother Donald Pritzker also took on an important role in the company.[6]

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.[7]

In 1969 Hyatt opened its first hotel outside the US, the Hyatt Regency Hong Kong.[8][dead link] In 1980 the Grand Hyatt and Park Hyatt brands were introduced. Hyatt runs resort hotels, starting with the Hyatt Regency Maui[9] in 1980. As of 2012 Hyatt had over 490 hotels worldwide.[10]

In 1972 Hyatt formed Elsinore Corporation, a subsidiary to operate the Four Queens Hotel and Casino and the Hyatt Lake Tahoe. After Hyatt became a private company in 1979, Elsinore was spun off into a public company. The company opened the Playboy Hotel and Casino as a joint venture with Playboy Enterprises.[11][12]

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.[13]

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.[14]

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.[15] According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman.[16] 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.[17]

As of 31 March 2013 Hyatt Corporation's worldwide portfolio consisted of 508 properties.[10] 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.[18]

Hyatt Hotels Corporation operates several chains. The Human Rights Campaign awarded the company 100% in the HRC Equality Index for eight consecutive years.[19] 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.[20] The first Andaz hotel was The Great Eastern Hotel in London, followed by hotels in San Diego, West Hollywood, Shanghai[21] and New York City (Andaz Wall Street & Andaz 5th Avenue).

On November 2013 Hyatt introduced their first all-inclusive resort brands, Ziva and Hyatt Zilara.

Brands[edit]

Full-service lodging[edit]

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.[citation needed]

Select-service lodging[edit]

Extended-stay lodging[edit]

All-inclusive resorts[edit]

Timeshares[edit]

Other business activities[edit]

Hyatt operates a higher-priced timeshare program, known as Hyatt Residence Club, through Hyatt Vacation Ownership, Inc. As of 2014 it had over a dozen locations, some within or connected to Hyatt hotels.[22] The group also runs a chain of higher-priced retirement homes named Vi Living[23] and offers retail home décor and furnishings through Hyatt at Home, a luxury online store.[24]

Notable properties[edit]

World events and Hyatt[edit]

1980-1989[edit]

1990-1999[edit]

2000-2009[edit]

2010-2019[edit]

Loyalty program[edit]

Hyatt Gold Passport

Hyatt hotels operate a loyalty program called Hyatt Gold Passport.

Gallery[edit]

Notes[edit]

  1. ^ a b "Hyatt Hotels - Management Team". Hyatt Hotels Corporation. Retrieved 2010-07-02. 
  2. ^ http://money.cnn.com/magazines/fortune/best-companies/2014/snapshots/95.html?iid=BC14_fl_list
  3. ^ Hyatt Hotels Corporation (H) annual SEC income statement filing. Wikinvest. Retrieved 27 May 2013.
  4. ^ http://quicktake.morningstar.com/stocknet/secdocuments.aspx?symbol=h
  5. ^ http://money.cnn.com/magazines/fortune/best-companies/2014/snapshots/95.html?iid=BC14_fl_list
  6. ^ Tritsch, Shane (2007-06-21). "Tremors in the Empire - Chicago magazine - December 2002 - Chicago". Chicagomag.com. Retrieved 2012-10-30. 
  7. ^ "History of Hyatt Corporation – FundingUniverse". Fundinguniverse.com. Retrieved 2012-10-30. 
  8. ^ "New World Development". Nwd.com.hk. Retrieved 2012-10-30. [dead link]
  9. ^ Maui Hotels
  10. ^ a b "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30. 
  11. ^ "Elsinore Corporation". The Gale Group, Inc. Retrieved 4 August 2009. 
  12. ^ Knightly, Arnold M. (2009-08-04). "Gaming pioneer Jeanne Hood dies". Las Vegas Review-Journal. Retrieved 4 August 2009. 
  13. ^ Hyatt Hotels Corporation 2010 annual report, Part 1, Item 1, page 3
  14. ^ "Hyatt Officially Welcomes Hyatt House to the Neighborhood". Hyattpressroom.com. Retrieved 2012-10-30. 
  15. ^ "Hyatt Hotels Corporation Prices Initial Public Offering". Hyattpressroom.com. Retrieved 2012-10-30. 
  16. ^ Nadja Brandt (August 6, 2009). "Hyatt to Raise Up to $1.15 Billion in Share Sale". BloombergLPcom. 
  17. ^ Andrews, Suzanna. "Shattered Dynasty". Vanity Fair. Retrieved 2012-10-30. 
  18. ^ "Hotel Sierra Joins Hyatt". Hyatt.com. 2011-09-01. Retrieved 2012-10-30. 
  19. ^ "Our Brands". Hyattpressroom.com. Retrieved 2012-10-30. 
  20. ^ Hyatt Hotels Corporation Announces Andaz(TM)
  21. ^ shanghai.andaz.hyatt.com
  22. ^ "Hyatt Residence Club". Hyatt.com. Retrieved 2012-10-30. 
  23. ^ "Assisted Living, Senior Residence, Independent Retirement Living | Vi". Viliving.com. Retrieved 2012-10-30. 
  24. ^ "Hyatt at Home". Hyatt at Home. Retrieved 2012-10-30. 
  25. ^ "The fall and rise of Lafayette Place Mall," The Boston Globe, Nov. 13, 2012
  26. ^ San Francisco Regency – Sold
  27. ^ "2002 Commonwealth Heads of Government". CHOGM2002.org. 
  28. ^ Jaquetta White, The Times-Picayune. "Hyatt Regency will reopen in October, 6 years after Hurricane Katrina". NOLA.com. Retrieved 2012-10-30. 
  29. ^ "Hyatt will go hi-tech for world chess title match as 20,000 are set to Watch Games On Giant Screens". The Times of India (Chennai: The Times Group). 28 May 2013. 

External links[edit]