Hyatt

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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
Public
Traded as NYSEH
Industry Hospitality
Founded 1957
Headquarters Hyatt Center
Chicago, Illinois,
United States
Key people
Thomas J. Pritzker[1]
(Executive chairman)
Mark S. Hoplamazian[1]
(President and CEO)
Products Hotels
Revenue Increase US$3.95 billion (2012)
Increase US$88 million (2012)
Number of employees
75,008 (2013)[2]
Website www.hyatt.com
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 U.S. company to work for.[2]

History[edit]

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.[5]

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.[6]

In 1969, Hyatt opened its first hotel outside the United States, the Hyatt Regency Hong Kong, designed by Aedas.[7] In 1980 the Grand Hyatt and Park Hyatt brands were introduced. Hyatt runs resort hotels, starting with the Hyatt Regency Maui in 1980.[8] As of 2012 Hyatt had over 490 hotels worldwide.[9]

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 as a public company. The company opened the Playboy Hotel and Casino as a joint venture with Playboy Enterprises.[10][11]

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.[12]

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.[13]

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

As of 31 December 2014 Hyatt Corporation's worldwide portfolio consisted of 587 properties.[9] 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.[17]

Hyatt Hotels Corporation operates several chains. The Human Rights Campaign (HRC) awarded the company 100% in the HRC Equality Index for eight consecutive years.[18] 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.[19] The first Andaz hotel was The Great Eastern Hotel in London, followed by hotels in San Diego, West Hollywood, Shanghai[20] 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. As of 2015, Hyatt Ziva and Hyatt Zilara offer all inclusive accommodations in Cancun, Puerto Vallarta, Los Cabos and Rose Hall, Montego Bay, Jamaica.

Brands[edit]

Full-service lodging[edit]

  • Park Hyatt are luxury Hyatt hotels, mid-sized hotels in cities considered premier destinations.[citation needed]
  • 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.[citation needed]

Select-service lodging[edit]

  • Hyatt Place hotels are mid-sized hotels catering for family and business travelers, in urban, airport and suburban areas.[citation needed]

Extended-stay lodging[edit]

  • Hyatt House (formerly known as Hyatt Summerfield Suites or Summerfield Suites by Wyndham and Hotel Sierra) properties are extended-stay residential hotels and smaller-to-mid-sized modern hotels in urban and suburban locations in the United States.[citation needed]

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.[21] The group also runs a chain of higher-priced retirement homes named Vi Living[22] and offers retail home décor and furnishings through Hyatt at Home, a luxury online store.[23]

Notable properties[edit]

  • 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 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.
  • Beijing: The Grand Hyatt Beijing opened in 2001 in Beijing city, followed by the Park Hyatt Beijing in 2008.
  • Boston: The 502-room Hyatt Regency Boston is in the original hotel component of the former Lafayette Place Mall in Boston's Downtown Crossing retail-office district.[24]
  • 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.
  • Dalian: Grand Hyatt Dalian opened in 2014. Situated at the Xinghai Square, it offers a view of the mountain-sea landscape in the coastal city in Northeast China.
  • Denpasar/Bali: Grand Hyatt Bali Hotel is a resort in Nusa Dua, Bali.
  • Hollywood: The Continental Hyatt Hotel (now Andaz West Hollywood) was in the movie Almost Famous starring Kate Hudson (2000), and its pool has featured in several films including This is Spinal Tap (1984), and the Park Hyatt Hotel in Century City (now rebranded as InterContinental Hotel) was the scene of the "6th floor into swimming pool" scene in the 1989 movie Lethal Weapon 2 starring Mel Gibson and Danny Glover.
  • Jakarta: Grand Hyatt Jakarta is a five-star hotel in Jakarta's business district, adjacent to Plaza Indonesia.
  • Kansas City, Missouri: Initially named the Hyatt Regency Kansas City, the atrium walkways collapsed in 1981, killing 114. The hotel has since been renamed Sheraton Kansas City at Crown Center and remains in operation.
  • Los Angeles: Century Plaza Hotel, one of the 11 endangered historic sites
  • Mumbai: Grand Hyatt Hotel, Mumbai was designed by Chicago's Lohan Associates and opened in 2004.
  • New Delhi: Hyatt Regency Delhi The Hyatt Regency Delhi is a luxury hotel in New Delhi, India, built in 1983. The five-star hotel hotel has 507 rooms and 52 suites equipped with modern amenities and high-speed Internet access. It has 5,500 sq ft of flexible event space suitable for corporate and social events. There is also an outdoor swimming pool, salon services, Club Olympus Spa & Fitness facilities, or experience the best in shopping at the hotel’s multi-level retail complex.
  • San Francisco: The Hyatt Regency San Francisco formerly provided a rooftop revolving restaurant called Equinox, offering 360-degree views of the city and the bay – the restaurant became an elite club for certain hotel guests only and it no longer rotates. This hotel was sold for close to $200 million to Dune Capital Management and DiNapoli Capital Partners in January 2007, about $250,000 per room.[25] The property was used several times as a filming location, including Irwin Allen's 1974 disaster film The Towering Inferno, the 1977 Mel Brooks comedy High Anxiety, Don Siegel's spy thriller Telefon of the same year, and the 1979 science fiction thriller Time After Time.
  • 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.
  • Tokyo: The Park Hyatt Tokyo appeared in the 2003 movie Lost in Translation.
  • Yogyakarta: Hyatt Regency Yogyakarta is a five-star hotel in Yogyakarta, Java, Indonesia.

World events[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]

References[edit]

  1. ^ a b "Hyatt Hotels - Management Team". Hyatt Hotels Corporation. Retrieved 2010-07-02. 
  2. ^ a b "100 Best Companies to Work For - Fortune". Fortune. 
  3. ^ Hyatt Hotels Corporation (H) annual SEC income statement filing. Wikinvest. Retrieved 27 May 2013.
  4. ^ "Hyatt Hotels Corp". morningstar.com. 
  5. ^ Tritsch, Shane (2007-06-21). "Tremors in the Empire - Chicago magazine - December 2002 - Chicago". Chicagomag.com. Retrieved 2012-10-30. 
  6. ^ "History of Hyatt Corporation – FundingUniverse". Fundinguniverse.com. Retrieved 2012-10-30. 
  7. ^ "New World Development". Nwd.com.hk. Retrieved 2012-10-30. [dead link][dead link]
  8. ^ "Hawaii Island Resort -Hyatt Regency Maui Resort & Spa". hyatt.com. 
  9. ^ a b "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30. 
  10. ^ "Elsinore Corporation". The Gale Group, Inc. Retrieved 4 August 2009. 
  11. ^ Knightly, Arnold M. (2009-08-04). "Gaming pioneer Jeanne Hood dies". Las Vegas Review-Journal. Retrieved 4 August 2009. 
  12. ^ Hyatt Hotels Corporation 2010 annual report, Part 1, Item 1, page 3
  13. ^ "Hyatt Officially Welcomes Hyatt House to the Neighborhood". Hyattpressroom.com. Retrieved 2012-10-30. 
  14. ^ "Hyatt Hotels Corporation Prices Initial Public Offering". Hyattpressroom.com. Retrieved 2012-10-30. 
  15. ^ Nadja Brandt (August 6, 2009). "Hyatt to Raise Up to $1.15 Billion in Share Sale". BloombergLPcom. 
  16. ^ Andrews, Suzanna. "Shattered Dynasty". Vanity Fair. Retrieved 2012-10-30. 
  17. ^ "Hotel Sierra Joins Hyatt". Hyatt.com. 2011-09-01. Retrieved 2012-10-30. 
  18. ^ "Our Brands". Hyattpressroom.com. Retrieved 2012-10-30. 
  19. ^ Hyatt Hotels Corporation Announces Andaz(TM)
  20. ^ "Boutique 5 Star Hotels in Shanghai , China丨Andaz Xintiandi, Shanghai丨Hyatt". hyatt.com. 
  21. ^ "Hyatt Residence Club". Hyatt.com. Retrieved 2012-10-30. 
  22. ^ "Assisted Living, Senior Residence, Independent Retirement Living | Vi". Viliving.com. Retrieved 2012-10-30. 
  23. ^ "Hyatt at Home". Hyatt at Home. Retrieved 2012-10-30. 
  24. ^ "Fall and rise of Lafayette Place mall - Opinion - The Boston Globe". BostonGlobe.com. 
  25. ^ San Francisco Regency – Sold
  26. ^ "2002 Commonwealth Heads of Government". CHOGM2002.org. 
  27. ^ Jaquetta White, The Times-Picayune. "Hyatt Regency will reopen in October, 6 years after Hurricane Katrina". NOLA.com. Retrieved 2012-10-30. 
  28. ^ "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]