Hyatt

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For other uses, see Hyatt (disambiguation).
Hyatt Hotels and Resorts Corporation
TypePublic
NYSE: H (Class A)
Russell 1000 Component
IndustryHospitality
FoundedSeptember 27, 1957; 63 years ago (1957-09-27)
FounderHyatt Robert von Dehn
Jack Dyer Crouch
HeadquartersChicago, Illinois,
United States
Number of locations
1175 hotels[1] (2021)
Area served
Worldwide
Key people
ProductsHotels and resorts
Revenue Increase US$5.020 billion (2019)[3]
Increase US$1.006 billion (2019) [4]
Decrease US$766 million (2019)[4]
Total assetsIncrease US$8.417 billion (2019)[4]
Total equityIncrease US$3.967 billion (2019)[4]
Number of employees
127,000[5] (2021)
Websitewww.hyatt.com
Grand Hyatt Hong Kong

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.

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.[6][7][8]

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, LLC 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.[9]

History[]

The first Hyatt House opened in 1954 by entrepreneurs and Jack Dyer Crouch as a motel near Los Angeles International Airport.[10] 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.[11]

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.[12]

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).[13]

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.[14][15]

Donald died in 1972 and Jay continued to run the company.[16]

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.[17]

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.[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.[7] 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

On 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, 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]

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 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.[28]

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.[29]

On December 6, 2018, Hyatt signed a contract with Kastrati Group to manage MAK Albania Hotel in Tirana, Albania. Formerly the Sheraton Tirana, the hotel will be rebuilt and rebranded as Hyatt Regency and Residences Tirana, with an opening planned for 2022.[30]

In January 2020, Hyatt signed a management contract with KL Midtown (JV between Hap Seng Consolidated and TTDI KL Metropolis) to open a Hyatt Regency Hotel at the latter's KL Metropolis development in northern Kuala Lumpur. This marks the return of the iconic Hyatt Regency brand to the capital city of Malaysia since the change of management of the former Hyatt Regency Saujana in 2005.[31]

In March 2021, Hyatt announced the official opening of Hyatt’s 1,000th hotel worldwide, Alila Napa Valley in St. Helena, California.[32]

In June 2021, the iconic Hyatt Regency Mumbai closed operations indefinitely due to non funding for salary payment or operational expenses by Asian Hotels (West) Ltd., the owner of Hyatt Regency Mumbai.[33]

Brands[]

Hyatt Place logo
Grand Hyatt logo
The interior atrium at Hyatt Regency New Orleans

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.[6]

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

Hyatt categorizes its brands under three categories: Timeless Portfolio (containing Hyatt's classic brands), Boundless Portfolio (lifestyle brands) and Independent Collections (soft-branded independent properties). Two additional upscale lifestyle brands, tommie and Caption, have been announced and will be joining the portfolio once the first properties open.[citation needed]

Timeless Portfolio[]

  • Park Hyatt – top-tier luxury brand, offering residential-style luxury
  • Miraval – luxury wellness resorts
  • Grand Hyatt – large luxury hotels with fine dining and expansive meeting facilities
  • Hyatt Regency – Hyatt's signature, upper-upscale brand
  • Hyatt – Hyatt's brand of modern hotels
  • Hyatt Ziva – all-inclusive family resorts
  • Hyatt Zilara – all-inclusive adults-only resorts
  • Hyatt Place – mid-tier brand offering large rooms
  • Hyatt House – extended-stay properties
  • Hyatt Residence Club – timeshare and vacation rental resorts
  • UrCove by Hyatt – Hyatt's new brand targeted to Chinese travelers

Boundless Portfolio[]

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

Independent Collections[]

  • 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

Notable properties[]

  • 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.
  • 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 hotel in the world, with the largest freestanding bar in the world.
  • 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.[34]
  • 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: The Grand Hyatt Kuala Lumpur (which is adjacent to Kuala Lumpur Convention Centre) opened in August 2012 and this marked the return of the famous chain to the Malaysian capital city, having lost the former Hyatt Regency Saujana which underwent a management change in 2005.
  • 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.[35]
  • 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.[36]
  • 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
  • Philadelphia: Hyatt Centric in the City Center West Rittenhouse Square area
  • 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.[37] 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.[38]
  • Taipei: Grand Hyatt Taipei is the only hotel operated by Hyatt Corporation in Taipei.
  • Tokyo: The Park Hyatt Tokyo is the second-tallest building in Shinjuku, Tokyo.
  • California: Alila Napa Valley is Hyatt's 1,000th hotel worldwide.[39]

World events[]

1980–1989[]

  • 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.[40] The hotel was later renamed the Hyatt Regency Crown Center.[41]

1990–1999[]

2000–present[]

  • 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.[43]
  • 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.[44]
  • United States - On Mother's Day, May 9, 2021, a shooting at a Hyatt hotel in downtown Phoenix, Arizona left one person dead and seven injured.[45]

Partnerships[]

Hyatt's has a partnership with MGM Resorts International.[46]

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.[47]

In October 2018, Hyatt announced their purchase of Two Roads Hospitality, a lifestyle hotel management company, for a base purchase price of US$480 million, with Hyatt to take the management controls of 85 properties of Two Road's across eight countries. All the hotels had joined the World of Hyatt loyalty programme by 2019.[8]

Loyalty program[]

Hyatt operates a loyalty program called World of Hyatt, which replaced Gold Passport on March 1, 2017.[48]

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.[49]

Recognition[]

Fortune magazine ranked Hyatt #32 on its list of "America's Best Companies to Work For" in 2019.[50] The Human Rights Campaign (HRC) has awarded the company 100% in the HRC Equality Index for more than ten years, last in 2020.[51][52]

See also[]

References[]

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  31. ^ www.hyatt.com Regency set to return to Kuala Lumpur in 2024 https://www.businesstraveller.com/business-travel/2020/01/14/hyatt-regency-set-to-return-to-kuala-lumpur-in-2024/=Hyatt Regency set to return to Kuala Lumpur in 2024 Check |url= value (help). Missing or empty |title= (help)
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  52. ^ Campaign, Human Rights. "HRC's 2020 Corporate Equality Index". Human Rights Campaign. Retrieved 2020-02-18.

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