|Traded as||NYSE: H|
|Key people||Thomas J. Pritzker
Mark S. Hoplamazian
(President and CEO)
|Revenue||US$3.95 billion (2012)|
|Net income||US$88 million (2012)|
|Employees||75,008 (2013) |
|Website||Hyatt Hotels & Resorts|
|Footnotes / references
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.
The original owners were entrepreneurs Hyatt Robert von Dehn and Jack Dyer Crouch; Von Dehn sold his share in the hotel to Jay Pritzker after a few years; 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 US, 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 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.
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 Suitesfrom 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 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).
On November 2013 Hyatt introduced their first all-inclusive resort brands, Ziva and Hyatt Zilara.
- Full-service lodging
- Park Hyatt are luxury Hyatt hotels, mid-sized hotels in sites considered premier.
- Andaz hotels are higher-priced boutique-style hotels.
- Grand Hyatt hotels are large higher-priced hotels in major cities.
- Hyatt Regency hotels are 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 higher-priced full-service hotels with 200 to 600 rooms in major cities.
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.
- Select-service lodging
- Hyatt Place hotels are mid-sized hotels catering for family and business travelers, in urban, airport and suburban areas.
- Extended-stay lodging
- Hyatt house (formerly known as Hyatt Summerfield Suites or Summerfield Suites by Wyndam 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.
- All-inclusive resorts
- Hyatt Zilara and Hyatt Ziva hotels are all-inclusive resorts. Zilara does not accommodate children.
- Hyatt Residence Club are timeshare properties with the same service as the Hyatt brand.
Other business activities
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 5-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.
- Chicago: At 2019 rooms, The Hyatt Regency Chicago is the 7th-largest non-gaming hotel in the world, with the largest freestanding bar in the world.
- 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 5-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 was since renamed Sheraton Kansas City at Crown Center and remains in operation.
- Los Angeles: Century Plaza Hotel, one of the 11 endangered historic sites
- 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. 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 sci-fi thriller Time After Time.
- Seoul: The Grand Hyatt Seoul opened in 1978 as Hyatt Regency Seoul and is one of the oldest Hyatts to open in Asia. Is the only fully Hyatt-owned hotel in the Asia-Pacific region. The hotel is in Namsan, where further development is not allowed.
- Tokyo: The Park Hyatt Tokyo appeared in the movie Lost in Translation.
- Yogyakarta: Hyatt Regency Yogyakarta is a 5 star hotel in Yogyakarta, Java.
World events and Hyatt
|This section needs additional citations for verification. (August 2009)|
- India - The Hyatt Regency Chennai was the venue for the World Chess Championship 2013, held for the first time in India, from 9 to 28 November 2013.
- Trinidad & Tobago – The Hyatt Regency Trinidad was used for the 2009 5th Summit of the Americas from April 17 to 19, 2009.
- The 2002 Commonwealth Heads of Government (CHOGM) was held at the former Hyatt Regency Coolum (now Palmer Coolum Resort) on the Sunshine Coast at Coolum . CHOGM was held 2-5 March, 2002. | http://www.chogm2002.org/
- The 2006 G20 Meeting of Finance Ministers and Central Bank Governors was held at the Grand Hyatt in Melbourne between November 18 and November 19, 2006.
- Israel – On October 17, 2001, Israeli tourism minister Rehavam Ze'evi was assassinated in the Jerusalem Hyatt Regency on Mount Scopus.
- Jordan – On November 9, 2005, the Grand Hyatt Hotel in Amman, Jordan was targeted by a series of coordinated terrorist attacks along with a Radisson SAS and a Days Inn hotel.
- Philippines – The Hyatt Terraces Baguio in the northern city of Baguio collapsed after a July 16, 1990 earthquake.
- United States
- During Hurricane Katrina, the Hyatt Regency New Orleans received significant damage as almost all of its windows were blown out and the bottom floor was torn apart by flood damage. The hotel is located in the Central Business District and reopened October 19, 2011.
- The Hyatt Regency Kansas City in Kansas City, Missouri, was the site of one of the worst hotel disasters in U.S. history. On July 17, 1981, two of the three skybridges that traversed the hotel's lobby collapsed during a tea dance. The walkways were packed with people when a structural failure occurred causing one bridge, which was hung from the bridge above it, to pull both bridges loose from the ceiling and collapse. The accident killed 114 people and injured over 200. The hotel was later renamed the Hyatt Regency Crown Center.
Hyatt hotels operate a loyalty program called Hyatt Gold Passport.
Looking up inside the 32-story atrium of the Shanghai Grand Hyatt, part of the Jin Mao Tower
Hyatt Regency in Atlanta, Georgia
A Hyatt Regency in Cologne, Germany. The KölnTriangle is in the background
A Hyatt Regency in Santa Clara, California, in the United States, Westin Hotel
Hyatt Regency at Orlando International Airport
Grand Hyatt Hotel Muscat, Oman
Hyatt Place Louisville, Kentucky
Hyatt Place Chantilly, Virginia
Park Hyatt Washington, D.C.
HYATT house Dallas/Lincoln Park Dallas, Texas
Hyatt Regency Dearborn
- "Hyatt Hotels - Management Team". Hyatt Hotels Corporation. Retrieved 2010-07-02.
- Hyatt Hotels Corporation (H) annual SEC income statement filing. Wikinvest. Retrieved 27 May 2013.
- Tritsch, Shane (2007-06-21). "Tremors in the Empire - Chicago magazine - December 2002 - Chicago". Chicagomag.com. Retrieved 2012-10-30.
- "History of Hyatt Corporation – FundingUniverse". Fundinguniverse.com. Retrieved 2012-10-30.
- "New World Development". Nwd.com.hk. Retrieved 2012-10-30.[dead link]
- Maui Hotels
- "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30.
- "Elsinore Corporation". The Gale Group, Inc. Retrieved 4 August 2009.
- Knightly, Arnold M. (2009-08-04). "Gaming pioneer Jeanne Hood dies". Las Vegas Review-Journal. Retrieved 4 August 2009.
- Hyatt Hotels Corporation 2010 annual report, Part 1, Item 1, page 3
- "Hyatt Officially Welcomes Hyatt House to the Neighborhood". Hyattpressroom.com. Retrieved 2012-10-30.
- "Hyatt Hotels Corporation Prices Initial Public Offering". Hyattpressroom.com. Retrieved 2012-10-30.
- Nadja Brandt (August 6, 2009). "Hyatt to Raise Up to $1.15 Billion in Share Sale". BloombergLPcom.
- Andrews, Suzanna. "Shattered Dynasty". Vanity Fair. Retrieved 2012-10-30.
- "Hotel Sierra Joins Hyatt". Hyatt.com. 2011-09-01. Retrieved 2012-10-30.
- "Our Brands". Hyattpressroom.com. Retrieved 2012-10-30.
- Hyatt Hotels Corporation Announces Andaz(TM)
- "Hyatt Residence Club". Hyatt.com. Retrieved 2012-10-30.
- "Assisted Living, Senior Residence, Independent Retirement Living | Vi". Viliving.com. Retrieved 2012-10-30.
- "Hyatt at Home". Hyatt at Home. Retrieved 2012-10-30.
- "The fall and rise of Lafayette Place Mall," The Boston Globe, Nov. 13, 2012
- San Francisco Regency – Sold
- "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.
- Jaquetta White, The Times-Picayune. "Hyatt Regency will reopen in October, 6 years after Hurricane Katrina". NOLA.com. Retrieved 2012-10-30.
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