Hyatt
 | |
| Public | |
| Traded as | NYSE: H (Class A) Russell 1000 Component |
| ISIN | US4485791028  |
| Industry | Hospitality |
| Founded | September 27, 1957 |
| Founder | Hyatt Robert von Dehn Jack Dyer Crouch |
| Headquarters | Chicago, Illinois, United States |
Number of locations | 896 hotels[1] (2019) |
Area served | Worldwide |
Key people |
|
| Products | Hotels and resorts |
| Revenue |  US$4.45 billion (2018)[3] |
 US$322 million (2018) [4] | |
| US$332 million (2018)[5] | |
| Total assets | US$7.64 billion (2018)[6] |
| Total equity | US$3.68 billion (2018)[7] |
Number of employees | 100,000[8] (2019) |
| Website | www |
Hyatt Hotels Corporation, commonly known as Hyatt, 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.
The Hyatt Corporation came into being upon purchase of the Hyatt House, at Los Angeles International Airport, on September 27, 1957. Since then, Hyatt has grown organically 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 Hotels in 2018.[9][10][11] As of September 30, 2019, Hyatt has over 100,000 employees worldwide servicing nearly 900 properties across 20 brands in 60 countries.[12]
Fortune magazine ranked Hyatt #32 on its list of "America's Best Companies to Work For" in 2019.[13] The Human Rights Campaign (HRC) has awarded the company 100% in the HRC Equality Index for more than ten years, last in 2020.[14][15]
History[edit]
The first Hyatt House opened in 1954 by entrepreneurs Hyatt Robert von Dehn and Jack Dyer Crouch as a motel near Los Angeles International Airport.[16] In 1957, the hotel was purchased by entrepreneur Jay Pritzker for $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 motels near San Francisco International Airport and Seattle–Tacoma International Airport.[17]
In 1967, the company opened their Regency Hyatt House in Atlanta, Georgia (today 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.[18]
In 1969, Hyatt opened its first hotel outside the United States, when it was awarded the management contract for the President Hotel in Hong Kong. The President Hotel was renamed the Hong Kong Hyatt Hotel (later known as the Hyatt Regency Hong Kong).[19]
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. 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.[20][21]
Donald died in 1972 and Jay continued to run the company.[22]
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. One of the first of these was the Hyatt Regency Maui in 1980.[23]
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 Corp. On June 30, 2009, Global Hyatt Corporation changed its name to Hyatt Hotels Corporation.[24]
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.[10] 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.[25]
Hyatt launched the Andaz brand in April 2007.[26] The first Andaz hotel was the Great Eastern Hotel in London, followed by hotels in San Diego, West Hollywood, Shanghai[27] and New York City (Andaz Wall Street & Andaz 5th Avenue).
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.[28] According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman.[29] 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.[30]
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.[31]
On November 2013, Hyatt introduced their first all-inclusive resort brands, Ziva and Hyatt Zilara, with the first resorts being opened in Cancun, Puerto Vallarta, Los Cabos and Rose Hall, Montego Bay, Jamaica.
As of 31 December 2014[update], Hyatt Corporation's worldwide portfolio consisted of 587 properties.[32]
As of 30 November 2015[update] Hyatt had over 627 hotels worldwide.[33]
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. [34]
On November 14, 2016, Hyatt and Bahria Town Group signed an agreement for construction of four properties in Pakistan, combined worth US$600 million. Properties include the Grand Hyatt Golf Resort on Murree Expressway in Islamabad, Hyatt Regency Golf Resort in Bahria Town Karachi, Hyatt Regency in Lahore, and Hyatt Regency in Bahria Town Rawalpindi. The Hyatt Regency Karachi features Pakistan's first night-lit 36-hole golf.[35]
In 2018, Hyatt saw expansion with the acquisition of Two Roads Hotels. This added the Joie de Vivre, Destination, Alila, and Thompson hotel brands to the Hyatt portfolio - a growth of 85 hotels in 23 markets.[36]
On December 6, 2018, Hyatt signed a contract with Kastrati Group to manage MAK Albania Hotel (former Sheraton Tirana) in Tirana, Albania. The hotel will be branded as Hyatt Regency and Residences Tirana.[37]
Brands[edit]
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.[9]
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Upscale/Luxury[edit]
- Grand Hyatt hotels are large luxury hotels in major cities ranging from 350 to 1,500 rooms in size.[38] They include expansive amounts of meeting space, upscale dining, spa, and fitness facilities, and are doused in dramatic architecture.[39]
- Park Hyatt hotels are mid-sized, residential luxury hotels in cities considered premier destinations.[40]
- Hyatt Regency, Hyatt's flagship hotel brand hotels, are mid- to large-scale 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.[41] The Hyatt Regency Chicago is the company's largest hotel, with over 2,000 guest rooms.
- Hyatt hotels are smaller full-service hotels with 150 to 350 rooms located close to major business centers.[42]
Lifestyle[edit]
- Joie de Vivre
- Thompson Hotels
- Andaz, an award-winning upscale/luxury lifestyle brand.[43] Located in vibrant cities, hotels typically range between 125 and 300 rooms, and include a full-service restaurant, bar, meeting space.
- Hyatt Centric is a new, full-service lifestyle brand located in center-cities and designed for business and leisure travelers.[44] Hotels are usually less than 250 rooms in size and include compacted full-service dining in addition to an upscale bar and restaurant, meeting spaces, and an upscale fitness center.[45]
- The Unbound Collection by Hyatt is a new division of hotels which are part of the Hyatt portfolio but unbranded, maintaining their individual names.[46] Notable locations include the Driskill Hotel, the Bellevue Hotel, and Hotel Martinez in France.[47]
- Caption by Hyatt are select-service, lifestyle hotels. Hotel size ranges from 150 to 250 guestrooms, includes a bar/restaurant element, and large social spaces.[48] As of 2020, Hyatt has not introduced a physical property.
Resort/Destination[edit]
- Destination Hotels are luxury independent hotels, resorts, and residences located in sought-after cities. Similar to the Unbound Collection, these properties are part of the Hyatt portfolio, however utilize their own independent names.[49]
- Hyatt Zilara an adults only, all-inclusive resort in destination markets.[50]
- Hyatt Ziva a family-friendly, all-inclusive resort in destination markets.[51]
- Hyatt Residence Club are timeshare properties with the same service as the Hyatt brand.[52]
- Alila Hotels and Resorts are upscale resorts strategically situated in less-traveled areas for guests to fully disconnect.[53]
Wellbeing[edit]
- Miraval
- Exhale Spa and Fitness
Midscale/Select-Service[edit]
- Hyatt Place hotels are mid-sized limited-service hotels catering to families as well as business travelers.
- Hyatt House (formerly known as Hyatt Summerfield Suites or Summerfield Suites by Wyndham and Hotel Sierra) properties are extended-stay select-service hotels and smaller-to-mid-sized modern hotels in urban and suburban locations in the United States.[54]
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[update] it was the only major downtown Atlanta hotel with a front drive on Peachtree Street. Architect John Portman designed the building.
- Austin: The Driskill is the oldest operating hotel in Austin, Texas, and a member of Historic Hotels of America.
- Beijing: The Grand Hyatt Beijing opened in 2001 in Beijing city, followed by the Park Hyatt Beijing in 2008.
- Birmingham: The Hyatt Regency Birmingham opened in 1990.
- Carlsbad: The Aviara opened in 2010, is a Forbes Five Star & AAA Five Diamond resort.
- Chennai: Hyatt Regency Chennai and Park Hyatt Chennai
- Chicago: With 2,019 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.
- Dallas: The Hyatt Regency Dallas, built in 1978, is most notable for its association with the iconic 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.
- Denpasar/Bali: Grand Hyatt Bali Hotel is a resort in Nusa Dua, Bali.
- Hong Kong: The Grand Hyatt Hong Kong is a luxury Hyatt hotel in Hong Kong, and 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: 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.
- Jakarta: Grand Hyatt Jakarta opened in 1991 and is adjacent to Plaza Indonesia. Park Hyatt Jakarta inaugurated in 2018 in Menteng.
- 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 Hotel at Crown Center and remains in operation.
- Kuala Lumpur: Grand Hyatt Kuala Lumpur - located next to the Kuala Lumpur Convention Center and opened in 2012, marking the return of the iconic chain to the Malaysian capital city (since the Hyatt Regency Saujana near Subang Airport changed management in 2004 and became The Saujana Kuala Lumpur).
- London: Andaz London Liverpool Street, built in 1884 and formerly known as the Great Eastern Hotel, was the only hotel in the City of London from 1884 until the 1980s.[55]
- Los Angeles
- 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).
- 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.
- Century Plaza Hotel, operated by Hyatt from 2006 to 2016, is listed among the National Trust for Historic Preservation's 11 most endangered historic places in America. It closed for renovations in 2016 and is due to reopen in 2020 as the Fairmont Century Plaza.[56]
- Manila: Grand Hyatt Manila, the first supertall building in the Philippines (318m)
- 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.
- New York City: Grand Hyatt New York
- 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.[57] The property was used several times as a filming location, including for Irwin Allen's 1974 disaster film The Towering Inferno, the 1977 Mel Brooks comedy High Anxiety, Don Siegel's 1977 spy thriller Telefon, and the 1979 science fiction thriller Time After Time.
- Seattle: Hyatt Regency Seattle is the largest hotel in the Pacific Northwest, with 1,260 rooms
- Taipei: Grand Hyatt Taipei is the only Hotel operated by Hyatt Corporation in Taipei.
- Tokyo: The Park Hyatt Tokyo appeared in the 2003 movie Lost in Translation.
World events[edit]
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1980–1989[edit]
- United States – 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.[58] The hotel was later renamed the Hyatt Regency Crown Center.[59]
1990–1999[edit]
- Philippines – The Hyatt Terraces Baguio Hotel in the northern city of Baguio collapsed after a July 16, 1990, earthquake.[60]
2000–present[edit]
- Israel – On October 17, 2001, Israeli tourism minister Rehavam Ze'evi was assassinated in the Jerusalem Hyatt Regency on Mount Scopus.
- 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.[61]
- 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.
Loyalty program[edit]
Hyatt operates a loyalty program called World of Hyatt, which replaced Gold Passport on March 1, 2017.[62]
Partnerships[edit]
Hyatt's partnership with MGM Resorts International allows members who join 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 perqs and partnerships associated with the higher, matched status in both programs.[63][64][65][66]
In 2018, Hyatt also began partnering with select 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.[67]
In October 2018, Hyatt announced their purchase of Two Roads Hospitality, a lifestyle hotel management company, for a base purchase price of $480 million. Hyatt will take the management controls of 85 properties of Two Road's across eight countries. All the hotels have joined the World of Hyatt loyalty programme in 2019.[11]
See also[edit]
References[edit]
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- ^ a b c "Hyatt Hotels - Management Team". Hyatt Hotels Corporation. Retrieved 2019-11-14.
- ^ "Hyatt Hotels revenue". www.macrotrends.net.
- ^ https://www.macrotrends.net/stocks/charts/H/hyatt-hotels/revenue
- ^ https://www.macrotrends.net/stocks/charts/H/hyatt-hotels/revenue
- ^ https://www.macrotrends.net/stocks/charts/H/hyatt-hotels/revenue
- ^ https://www.macrotrends.net/stocks/charts/H/hyatt-hotels/revenue
- ^ https://about.hyatt.com/en.html
- ^ a b "Hyatt History". Hyatt About. Retrieved 2020-02-18.
- ^ a b "About Hyatt". Hyatt.com. 2004-12-09. Retrieved 2019-07-05.
- ^ a b "Hyatt to acquire Two Roads Hospitality". Retrieved 10 October 2018.
- ^ http://investors.hyatt.com/investor-relations/our-company/default.aspx
- ^ https://fortune.com/best-companies/2019/hyatt-hotels
- ^ "Hyatt Recognized by Human Rights Campaign as 'Best Place to Work' for LGBT Equality". Hyatt Press Room. Hyattpressroom.com. 2015-11-18. Archived from the original on 2020-02-18. Retrieved 2012-10-30.
- ^ Campaign, Human Rights. "HRC's 2020 Corporate Equality Index". Human Rights Campaign. Retrieved 2020-02-18.
- ^ https://www.newspapers.com/newspage/118024752/
- ^ Tritsch, Shane (2007-06-21). "Tremors in the Empire - Chicago magazine - December 2002 - Chicago". Chicagomag.com. Retrieved 2012-10-30.
- ^ https://www.atlantamagazine.com/news-culture-articles/after-50-years-hyatt-regency-atlanta-is-still-a-visual-spectacle/
- ^ Lo, York (11 December 2017). "The Kings of Industrial Buildings - the Chung brothers of E.Wah Aik San". The Industrial History of Hong Kong Group. Retrieved 2019-06-06.
- ^ "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.
- ^ "History of Hyatt Corporation". Funding Universe. Retrieved 2012-10-30.
- ^ "Hawaii Island Resort -Hyatt Regency Maui Resort & Spa". hyatt.com.
- ^ Hyatt Hotels Corporation 2010 annual report, Part 1, Item 1, page 3
- ^ "Hyatt Officially Welcomes Hyatt House to the Neighborhood". Hyattpressroom.com. Archived from the original on 2012-09-03. Retrieved 2012-10-30.
- ^ Hyatt Hotels Corporation Announces Andaz(TM) Archived 2007-07-06 at the Wayback Machine
- ^ "Boutique 5 Star Hotels in Shanghai, China丨Andaz Xintiandi, Shanghai丨Hyatt". hyatt.com.
- ^ "Hyatt Hotels Corporation Prices Initial Public Offering". Hyattpressroom.com. Archived from the original on 2014-04-07. 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.
- ^ "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30.
- ^ "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30.
- ^ "Marriott Buying Starwood in Deal Valued at $12.2 Billion". www.bloomberg.com. Retrieved 2020-02-18.
- ^ "Hyatt to open four luxury hotel in Pakistan". Gulf News. Retrieved 2019-07-05.
- ^ https://www.hyatt.com/info/two-roads-hospitality
- ^ Jonuzaj, Klaudjo. "First Hyatt hotel to open in Albania's Tirana - PM Rama".
- ^ "Grand Hyatt Hotels". Hyatt.com.
- ^ https://www.hyattconnect.com/MicroSites/assets/files/Grand%20Hyatt%20Fact%20Sheet.pdf
- ^ "Park Hyatt Hotels". Hyatt.com.
- ^ "Hyatt Regency Hotels". Hyatt.com.
- ^ "Hyatt Hotels". Hyatt.com.
- ^ https://www.hyatt.com/development/ourbrands/andaz
- ^ "Hyatt Centric Hotels". Hyatt.com.
- ^ https://www.hyattconnect.com/MicroSites/assets/files/Hyatt%20Centric%20Fact%20Sheet.pdf
- ^ "The Unbound Collection by Hyatt". Hyatt.com.
- ^ https://www.hyattconnect.com/MicroSites/assets/files/Unbound%20by%20Hyatt%20Collection%20Fact%20Sheet.pdf
- ^ https://www.hyattconnect.com/MicroSites/assets/files/DEV163124_FactSheetUpdates_Sept2019_Caption_NoFranchiseFee_05a_HighRes.pdf
- ^ https://www.hyattconnect.com/MicroSites/assets/files/Destination%20Fact%20Sheet.pdf
- ^ "Hyatt All Inclusive Resorts".
- ^ "Hyatt All Inclusive Resorts".
- ^ "Hyatt Residence Club".
- ^ https://www.hyattconnect.com/MicroSites/assets/files/Alila%20Fact%20Sheet.pdf
- ^ "Hyatt House Hotels".
- ^ "Londonist".
- ^ Leavy, Jake (30 January 2020). "The 20 Most Anticipated Hotel Openings Of 2020 In The US". thetravel.com. Retrieved 9 February 2020.
- ^ San Francisco Regency – Sold
- ^ "Understanding the Tragic Hyatt Regency Walkway Collapse". Interesting Engineering. Retrieved 2019-07-05.
- ^ "When this hotel skywalk collapsed, it was one of the deadliest structural failures in US history". Timeline. Retrieved 2019-07-05.
- ^ "A story of unity, resilience: 28 years after the 1990 killer quake". PNA. Retrieved 2019-07-05.
- ^ Jaquetta White, The Times-Picayune. "Hyatt Regency will reopen in October, 6 years after Hurricane Katrina". NOLA.com. Retrieved 2012-10-30.
- ^ Royal, Russin (October 27, 2016). "HYATT TO INTRODUCE NEW GLOBAL LOYALTY PROGRAM "WORLD OF HYATT"". Hyatt.com. Chicago.
- ^ "Other Partnerships". Hyatt.com.
- ^ Hull, Summer (November 6, 2017). "Why You Should Match Your Hyatt Status to M life Now". The Points Guy.
- ^ McNutt, Emily (April 23, 2018). "Earn 20% Bonus Hyatt Points for Las Vegas M life Stays". The Points Guy.
- ^ "Preferred Partners". MGM Resorts.
- ^ Rosenthal, Victoria (August 3, 2018). "Hyatt Hotels partners with SLH to expand loyalty program". Hotel Management. Questex.
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