Hyatt

Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family.

Hyatt Hotels Corporation

150 North Riverside in Chicago, Illinois, the headquarters of Hyatt.
Type	Public
Traded as	NYSE: H (Class A) S&P 400 component
ISIN	US4485791028
Industry	Hospitality, Travel, Tourism
Founded	September 27, 1957; 66 years ago (1957-09-27)
Founders	Hyatt Robert von Dehn Jack Dyer Crouch
Headquarters	150 North Riverside, Chicago, Illinois , U.S.
Number of locations	1,350 hotels (350,200 Rooms)^[1] (2023)
Area served	Worldwide
Key people	Thomas Pritzker (Chairman) Mark Hoplamazian (President and CEO)
Products	Hotels and Resorts
Services	Resort Management Brand Management Tour operator Travel agency Destination management
Revenue	US$5.89 billion (2022)^[2]
Operating income	US$939 million (2022)^[2]
Net income	US$455 million (2022)^[2]
Total assets	US$12.60 billion (2022)^[2]
Total equity	US$3.56 billion (2022)^[2]
Number of employees	189,000^[3] (2023)
Subsidiaries	Apple Leisure Group
Website	www.hyatt.com

Grand Hyatt Hong Kong

The Hyatt Corporation came into being upon purchase of the Hyatt House, at Los Angeles International Airport, on September 27, 1957. In 1969, Hyatt began expanding internationally. Hyatt has grown by developing new properties and through acquisitions, with the biggest growth coming from the acquisition of AmeriSuites (later rebranded Hyatt Place) in 2004, Summerfield Suites (later rebranded Hyatt House) in 2005, and Two Roads Hospitality in 2018.^[4][5][6]

Hyatt has more than 1350 hotels and all-inclusive properties in 69 countries across six continents.

History

The first Hyatt House was opened in 1954 by entrepreneurs Hyatt Robert von Dehn (1904–1973) and Jack Dyer Crouch (1915–1990) as a motel near Los Angeles International Airport.^[7] In 1957, the hotel was purchased by entrepreneur Jay Pritzker for US$2.2 million. His younger brother, Donald Pritzker, also took on an important role in the company. Considering the growing use of air travel for business, the Pritzker brothers realized that locating a high quality hotel near a major airport was a valuable business strategy. Within two years, they opened Hyatt House Hotels near San Francisco International Airport and Seattle–Tacoma International Airport.^[8]

The company went public in 1962 as Hyatt Corporation. It had two divisions - Hyatt House Hotels and Hyatt Chalet Motels (renamed Hyatt Lodges in 1966).^[9]

In 1967, the company opened the Regency Hyatt House in Atlanta, Georgia (today named the Hyatt Regency Atlanta). The futuristic hotel was designed by Atlanta architect John Portman, who would go on to design many other hotels for the chain. It featured a massive indoor atrium, which soon became a distinctive feature of many Hyatt properties.^[10]

In 1968, Hyatt International was formed, to operate hotels outside the United States.^[11] It would soon become a separate company. In 1969, Hyatt opened its first international hotel, when it was awarded the management contract for the President Hotel in Hong Kong, which was renamed the Hong Kong Hyatt Hotel (later known as the Hyatt Regency Hong Kong).^[12]

In 1972, Hyatt formed Elsinore Corporation, a subsidiary to operate the Four Queens Hotel and Casino and the Hyatt Regency Lake Tahoe Resort, Spa & Casino. Donald Pritzker died in 1972 and Jay Pritzker continued to run the company.^[13]

Hyatt became a private company in 1979, when the Pritzkers bought the outstanding shares.^[11] Elsinore was spun off as a public company. The company opened the Playboy Hotel and Casino as a joint venture with Playboy Enterprises.^[14][15]

Alongside the Hyatt Regency brand, the company introduced the Grand Hyatt brand in 1980, with the opening of the Grand Hyatt New York.^[16] That same year, the boutique Park Hyatt brand was also introduced.^[17]

The Pritzkers took Hyatt International private as well, in 1982.^[11] However, Hyatt and Hyatt International remained two separate companies until June 2004, when substantially all of the hospitality assets owned by the Pritzker family business interests, including Hyatt Corporation and Hyatt International Corporation, were consolidated under a single entity called Global Hyatt Corp. On June 30, 2009, Global Hyatt Corporation changed its name to Hyatt Hotels Corporation.^[18]

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.^[5] 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. In January 2012, Hyatt Summerfield Suites were rebranded as Hyatt House in 2012 to compete in the "upscale extended stay market" against Residence Inn, Homewood Suites, and Staybridge Suites.^[19]

Hyatt launched its first lifestyle brand, Andaz, in April 2007.^[20] Hindi for the word 'style', Andaz is positioned as a luxury brand, with the first hotel being a rebrand of the Great Eastern Hotel in London, followed by hotels in San Diego, West Hollywood, Shanghai^[21] and New York City.

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.^[22] According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman.^[23] The public offering was 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.^[24]

On September 1, 2011, Hyatt acquired Hotel Sierra, which had 18 properties in 10 states. Along with Hyatt Summerfield Suites hotels, several of these properties were rebranded as Hyatt house in January 2012.^[25]

 

The Grand Hyatt Hotel in Istanbul

In November 2013, Hyatt introduced their first all-inclusive resort brands, Hyatt Ziva and Hyatt Zilara, with the first resorts being opened in Cancun, Puerto Vallarta, Los Cabos and Rose Hall, Montego Bay, Jamaica.

As of 30 November 2015^[update], Hyatt had over 627 hotels worldwide.^[26]

On October 28, 2015, Hyatt announced that they were in advanced talks to acquire Starwood Hotels in a cash and stock transaction. The transaction was not completed, and Starwood was acquired by Marriott International instead.^[27]

In 2018, Hyatt saw expansion with the acquisition of Two Roads Hospitality. This added the Joie de Vivre, Destination, Alila, and Thompson hotel brands to the Hyatt portfolio, a growth of 85 hotels in 23 markets.^[28]

In March 2021, Hyatt announced the official opening of Hyatt's 1,000th hotel worldwide, Alila Napa Valley in St. Helena, California.^[29]

In August 2021, Hyatt Hotels Corporation (NYSE: H) acquired Apple Leisure Group (ALG), a luxury resort-management services, travel and hospitality group, from affiliates of KKR and KSL Capital Partners for $2.7 billion in cash. ALG's hotel portfolio consists of over 33,000 rooms operating in 10 countries. The acquisition will extend Hyatt's brand footprint into 11 more European markets.^[30]

Brands

 

Hyatt Place logo

 

Grand Hyatt logo

 

The interior atrium at Hyatt Regency New Orleans

 

Hyatt Regency Gurugram

Hyatt-branded properties have traditionally catered to upscale or business customers; its properties were either full-service or boutique hotels. In 1980, Hyatt added the Grand Hyatt and Park Hyatt brands to its portfolio. In 1995, Hyatt entered the vacation ownership market. Hyatt introduced the Hyatt Place brand, designed as a limited service offering for business travelers, in 2006. Hyatt House was Hyatt's first select-service property, catering primarily to travelers with long-term stays and at a more economical price point. Since then, Hyatt has added a wide range of other brands, especially in the lifestyle and resort segments.^[4]

 

Manchester Grand Hyatt San Diego, one of Grand Hyatt's largest hotels with over 1600 rooms

 

Homa Hotel Mashhad, opened in 1973 as Hyatt Omar Khayyam, in Mashhad, Iran.

Hyatt categorizes its brands under four categories: timeless collection (containing Hyatt's classic brands), boundless collection (lifestyle brands), independent collection (soft-branded independent properties) and inclusive collection (all-inclusive hotels). Two additional upscale lifestyle brands, tommie and Caption, have been announced and will be joining the portfolio once the first properties open.^{[citation needed]} Another brand, Hyatt Studios, was unveiled in April 2023 as Hyatt's first upper-midscale lodging segment in the Americas. Plans call for 100 Hyatt Studios hotels to be built starting in 2023 and the first location opening in 2024.^[31]

Timeless Collection

• Park Hyatt – top-tier luxury brand, offering residential-style luxury
• Grand Hyatt – large luxury hotels with fine dining and expansive meeting facilities
• Hyatt Regency – Hyatt's signature brand
• Hyatt Place – mid-tier brand offering large rooms
• Hyatt House – extended-stay properties
• Hyatt – Hyatt's brand of modern hotels
• UrCove by Hyatt – Hyatt's new brand targeted to Chinese travelers, co-developed with Home Inn.
• Hyatt Residence Club – timeshare and vacation rental resorts

Boundless Collection

• Miraval – luxury wellness resorts
• Alila Hotels and Resorts – luxury boutique hotels built around sustainable practices
• Andaz – art-and-design-focused luxury lifestyle hotels
• Thompson Hotels – luxury boutique hotels
• Dream Hotels - market-making design and experiential hospitality
• Hyatt Centric – upscale lifestyle properties
• Caption by Hyatt – select-service lifestyle brand with smaller rooms and lively public spaces

Independent Collection

• The Unbound Collection by Hyatt – a collection of independent, upper-upscale and luxury hotels
• Destination by Hyatt – formerly Destination Hotels, luxury independent properties
• JdV by Hyatt – formerly Joie de Vivre Hotels, a collection of independent properties designed around their immediate neighborhoods

Inclusive Collection

• Impression by secrets - all-inclusive adults-only resorts
• Hyatt Ziva – all-inclusive family resorts
• Hyatt Zilara – all-inclusive adults-only resorts
• Zoetry Wellness and Spa Resorts
• Secrets Resorts and Spas - All-inclusive adult only beachfront resorts targeted at couples looking for romantic getaways
• Breathless Resorts and Spas - Adult only all-inclusive beachfront resorts
• Dreams Resorts and Spas - Beachfront all-inclusive resorts targeted at couples and families
• Hyatt Vivid Hotels and Resorts - Adult only all-inclusive beachfront resorts
• Alua Hotels and Resorts - European seaside resorts and hotels
• Sunscape Resorts and Spas - Beachfront Resorts targeted at families

Notable properties

• Amman, Jordan : On November 9, 2005, Grand Hyatt Amman was targeted by a series of coordinated terrorist attacks along with a Radisson SAS and a Days Inn hotel.^[32]
• Atlanta, United States: The Hyatt Regency Atlanta, the first Hyatt Regency hotel, was built in 1967 as the Regency Hyatt House, 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.
• Austin, United States: The Driskill is the oldest operating hotel in Austin, Texas, and a member of Historic Hotels of America.
• Baguio, Philippines: The Hyatt Terraces Baguio Hotel collapsed after a July 16, 1990, earthquake.^[33]
• Bali, Indonesia: Hyatt operates seven hotels on the Indonesian island of Bali: a Grand Hyatt, a Hyatt Regency, an Andaz, and four Alilas.
  • Hyatt Regency Bali, formerly Bali Hyatt, opened in 1973 as one of the first foreign-branded hotels on the island, and remains an important landmark in the Sanur area. Following a five-year-long renovation, it was rebranded as a Hyatt Regency in 2018. ^[34]
  • Grand Hyatt Bali, opened in Nusa Dua resort complex in 1991 as the largest hotel in Bali at the time, featuring 630 rooms.^[35]
• Bangkok, Thailand: The Grand Hyatt Erawan opened in 1991, replacing the government-owned Erawan Hotel at the Ratchaprasong Intersection in the modern-day city center. It is home to the Erawan Shrine, which is popular among wish makers.
• Beijing, China: The Grand Hyatt Beijing opened in 2001, followed by the Park Hyatt Beijing in 2008.
• Birmingham, United Kingdom: The Hyatt Regency Birmingham opened in 1990.
• Burlingame, United States: The Burlingame Hyatt House, the first Hyatt built by the Pritzkers, opened in 1959 near San Francisco International Airport; in 1988 it was demolished and replaced with the Hyatt Regency San Francisco Airport.
• Carlsbad, United States: The Aviara, opened in 2010, is a Forbes Five Star & AAA Five Diamond resort.
• Chicago, United States: With 2,019 rooms, the Hyatt Regency Chicago is the seventh-largest hotel in the world, with the largest freestanding bar in the world. The hotel is known for views of the Chicago River and nearby attractions.
• Dallas, United States: The Hyatt Regency Dallas, built in 1978, is most notable for its association with the Dallas landmark Reunion Tower. Originally freestanding, the base of the tower was integrated into the ground floor of the hotel after an expansion project in 1998.
• Hong Kong, China: The Grand Hyatt Hong Kong is the Asian flagship of Hyatt International. The Hyatt Regency Hong Kong, Sha Tin and Hyatt Regency Hong Kong are also five-star hotels in Hong Kong.
• Jacksonville, United States: The Hyatt Regency Jacksonville opened in 2001 under the Adam's Mark brand. Ownership of the riverfront hotel changed along with the name in 2005. With 966 rooms, it is the largest hotel in North Florida.^[36]
• Jakarta, Indonesia:
  • Grand Hyatt Jakarta, opened in 1991, is adjacent to Plaza Indonesia. It is one of four hotels that surround the landmark Selamat Datang Monument, alongside Hotel Indonesia Kempinski Jakarta, Pullman Jakarta Thamrin CBD, and Mandarin Oriental Jakarta.
  • Park Hyatt Jakarta, opened in 2022, is touted as the first "six-star" hotel in Jakarta. It is located in Menteng, a historically affluent district of the city.^[37]
• Kansas City, United States: The Hyatt Regency Kansas City 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.^[38] The hotel was later renamed the Hyatt Regency Crown Center, and is currently operated by Sheraton.^[39]
• Kota Kinabalu, Malaysia: Hyatt Regency Kinabalu, opened in 1979 was Hyatt's first hotel in Malaysia and the oldest international-branded hotel in the city.{[cn}}
• London, United Kingdom: Andaz London Liverpool Street, built in 1884. Formerly known as the Great Eastern Hotel, it was the only hotel in the City of London from 1884 until the 1980s.^[40]
• Los Angeles, United States:
  • Hollywood: The Continental Hyatt House (now Andaz West Hollywood)
  • Century Plaza Hotel, operated by Hyatt from 2006 to 2016, was restored in 2021 as the Fairmont Century Plaza.^[41]
• Maldives: Park Hyatt Maldives Hadahaa, located in Huvadhu Atoll, has developed a reputation for being one of the most exorbitant and exclusive resorts in the country, on account of its remoteness from the capital Malé (a one and a half hour paid plane and speedboat transfers are required to reach the place). It was rebranded in 2011 from Alila Maldives, which had opened two years prior; in 2022, Alila opened another resort, Alila Kothaifaru Maldives, in the Northern Maalhosmadulu Atoll.^[42]
• Manila, Philippines: The Grand Hyatt Manila is located in the Metrobank Center, the first supertall building in the Philippines (318m)
• Mumbai, India: Grand Hyatt Hotel, Mumbai was designed by Chicago's Lohan Associates and opened in 2004.
  • In June 2021, the Hyatt Regency Mumbai closed, due to nonfunding for salary payment or operational expenses by Asian Hotels (West) Ltd., the owner of Hyatt Regency Mumbai.^[43]
• New Delhi, India: Hyatt Regency Delhi is a luxury hotel in New Delhi, India, built in 1983.
• New Orleans, United States: During Hurricane Katrina (August 23–31, 2005), 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.^[44]
• New York City, United States: The Grand Hyatt New York, opened in 1980, was the first Grand Hyatt hotel opened and was the first major real estate development of Donald Trump, in partnership with Hyatt. The partnership deteriorated into a tangle of lawsuits, and the Pritzkers bought off Trump's share in 1996. The structure, built in 1919, is currently named the Hyatt Grand Central New York and is set for demolition and replacement.
• Oyama, Japan: Fuji Speedway Hotel (2022), on the premises of the Fuji Speedway motor racing circuit.^[45]
• Paris, France: Hyatt Regency Paris (1992), near Paris Charles de Gaulle international airport and Villepinte exhibition center
• Phoenix, United States: On Mother's Day, May 9, 2021, a shooting at Hyatt Regency Phoenix left one person dead and seven injured.^[46]
• San Francisco, United States: The Hyatt Regency San Francisco formerly housed a rooftop revolving restaurant called Equinox, offering 360-degree views of the city and the bay. The restaurant became a club for Hyatt loyalty members only and no longer rotates. The hotel was sold for close to $200 million to Dune Capital Management and DiNapoli Capital Partners in January 2007, about $250,000 per room.^[47]
• Seattle, United States: Hyatt Regency Seattle is the largest hotel in the Pacific Northwest, with 1,260 rooms.^[48]
• Singapore: Grand Hyatt Singapore opened in 1971 as the Hyatt Regency and with over 700 rooms, was also the company's largest hotel at the time.
• St. Helena, United States: Alila Napa Valley was Hyatt's 1,000th hotel worldwide.^[29]
• Taipei, Taiwan: Grand Hyatt Taipei opened in 1990 as the "first international luxury hotel" in the country.
• Tokyo, Japan: The Park Hyatt Tokyo is the second-tallest building in Shinjuku, Tokyo.
• Zanzibar, Tanzania: Park Hyatt Zanzibar is the first and currently the only Park Hyatt hotel in Africa. It is located in Stone Town, a UNESCO World Heritage Site, and occupies a historic palace known as the Mambo Msiige.^[49]

Partnerships

Hyatt has a partnership with MGM Resorts International.^[50]

In 2018, Hyatt began partnering with some properties in the SLH (Small Luxury Hotels of the World) chain, which allows World of Hyatt members to earn and redeem points during their stays at participating SLH properties.^[51]

In October 2018, Hyatt announced its purchase of Two Roads Hospitality, a lifestyle hotel management company, for a base purchase price of US$480 million, with Hyatt to take management control of 85 Two Road properties across eight countries. All the hotels had joined the World of Hyatt loyalty programme by 2019.^[6]

Loyalty program

Hyatt operates a loyalty program called World of Hyatt, which replaced Gold Passport on March 1, 2017.^[52] This program includes membership tiers of discoverist, explorist, and globalist, and it offers Hyatt members benefits like higher room type upgrades and complimentary breakfast.^[53]

Hyatt's partnership with MGM Resorts International allows members of both companies' loyalty programs – World of Hyatt and Mlife, respectively – to "status match" (i.e., match their lower status in one of the programs to the higher tier achieved in the other), and then earn points and credits, as well as avail themselves of the perquisites and partnerships associated with the higher, matched status in both programs.^[54]

Recognition

Fortune magazine ranked Hyatt #32 on its list of "America's Best Companies to Work For" in 2019,^[55] rising to #16 in 2021.^[56] The Human Rights Campaign (HRC) has awarded the company 100% in the HRC Equality Index for more than ten years, last in 2020.^[57][58]

See also

•   Hotels portal

References

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