Hyatt

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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 has more than 1350 hotels and all-inclusive properties in 69 countries, across North America, South America, Europe, Asia, Africa and Australia.

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 expanded its footprint through a number of acquisitions, including the acquisition of AmeriSuites (later rebranded Hyatt Place) in 2004, Summerfield Suites (later rebranded Hyatt House) in 2005, Two Roads Hospitality in 2018, Apple Leisure Group in 2021, Dream Hotel Group in 2023 and Standard International in 2024.<ref name=":0">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Hyatt to Buy AmeriSuites Hotel Chain" /><ref name=":1">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="auto">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

History

Foundation and early years

The first Hyatt House was opened in 1954 by business partners Hyatt Robert von Dehn and Jack Dyer Crouch as a motel near Los Angeles International Airport.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In 1957, the hotel was purchased by entrepreneur Jay Pritzker for Template:Currency 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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).<ref name="Hyatt Investor Fact Book">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In 1968, Hyatt International was formed, to operate hotels outside the United States.<ref name="about.hyatt.com">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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).<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Hyatt became a private company in 1979, when the Pritzkers bought the outstanding shares.<ref name="about.hyatt.com"/> Elsinore was spun off as a public company. The company opened the Playboy Hotel and Casino as a joint venture with Playboy Enterprises.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref>

Alongside the Hyatt Regency brand, the company introduced the Grand Hyatt brand in 1980, with the opening of the Grand Hyatt New York (now Hyatt Grand Central).<ref name="Hyatt Investor Fact Book"/> That same year, the boutique Park Hyatt brand was also introduced.<ref name="Hyatt Investor Fact Book"/>

The Pritzkers took Hyatt International private as well, in 1982.<ref name="about.hyatt.com"/> 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.<ref>Hyatt Hotels Corporation 2010 annual report, Part 1, Item 1, page 3</ref>

Development since the 2000s

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.<ref name="Hyatt to Buy AmeriSuites Hotel Chain">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Hyatt launched its first lifestyle brand, Andaz, in April 2007.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman.<ref>Template:Cite news</ref> 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.

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.<ref>Template:Cite news</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In March 2021, Hyatt announced the official opening of Hyatt's 1,000th hotel worldwide, Alila Napa Valley in St. Helena, California.<ref name="Staff">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In August 2021, Hyatt acquired Apple Leisure Group (ALG), a luxury resort-management services, travel and hospitality group, from affiliates of Kohlberg Kravis Roberts 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In November 2022, Hyatt acquired Dream Hotels Group, a lifestyle hotel operator for $125 million, with up to an additional $175 million over the next six years as properties come into the pipeline and open. Dream Hotels Group's portfolio include 12 managed or franchised lifestyle hotels under four brands.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In April 2023, Hyatt acquired Mr and Mrs Smith, a UK-based platform offering direct booking access to over 1,500 boutique and luxury properties worldwide for £53.0 million in cash consideration.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In June 2024, Hyatt acquired the me and all hotels brand from Lindner Hotels AG, for which Hyatt has entered into a strategic collaboration with in 2022, consisting of six lifestyle hotels and over 1,000 rooms in central city locations across Germany.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In August 2024, Hyatt announced the planned acquisition of Standard International, an upscale boutique hotel operator, for $150 million, with up to an additional $185 million over time as additional properties enter the portfolio. The acquisition consists of 21 open hotels and more than 30 future properties under The Standard, Bunkhouse Hotels, Peri Hotels, The StandardX, and The Manner brands. With the transaction, Hyatt will form a new dedicated lifestyle group, managing all lifestyle brands and operations led by Standard International's Executive Chairman Amar Lalvani.<ref name="auto"/>

That same month, Hyatt Regency Orlando, one of the region’s largest convention hotels, was sold for $1.02 billion to Los Angeles-based Ares Management and Houston-based Rida Development — the nation's highest hotel sale in 2024.<ref name="Kinbar 2024">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The sale of the 1,641-room hotel at 9801 International Drive came to about $622,000 per guest room.

Brands

Hyatt reorganized its brand architecture in early 2025 into five portfolios — Luxury, Lifestyle, Inclusive, Classics, and Essentials.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Notable properties

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  • Bali, Indonesia: Hyatt operates seven hotels on the Indonesian island of Bali: a Grand Hyatt, a Hyatt Regency, an Andaz, and four Alilas (Hyatt Hotels is a JV partner in P.T. Wynncor Bali, the company that owns the first three mentioned hotels).
    • 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.<ref>{{#invoke:citation/CS1|citation

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    • Grand Hyatt Bali, opened in Nusa Dua resort complex in 1991 as the largest hotel in Bali at the time, featuring 630 rooms.<ref>{{#invoke:citation/CS1|citation

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  • Carlsbad, United States: The Aviara, opened in 2010, is a Forbes Five Star & AAA Five Diamond resort.
  • Casablanca, Morocco: The Hyatt Regency Casablanca, located in the Old Medina of Casablanca, joined Hyatt in the 1980s, having previously been operated as an independent hotel.
  • 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.
  • Dubai, United Arab Emirates:
    • The Hyatt Regency Dubai, opened in 1980, is the first Hyatt property in the United Arab Emirates.
    • The Grand Hyatt Dubai has 682 rooms, making it the largest hotel in Dubai at the time of its 2003 opening.
  • Dushanbe, Tajikistan: The Hyatt Regency Dushanbe, opened in 2009, is Tajikistan's first Hyatt property, as well as the first hotel managed by a Western company following the dissolution of the Soviet Union.
  • Biarritz, France: Hôtel du Palais Biarritz – The Unbound Collection by Hyatt. The historic 19th-century seaside palace was chosen as the host venue for the 45th G7 Summit in August 2019, where world leaders including the US President and UK Prime Minister held bilateral meetings.<ref>{{#invoke:citation/CS1|citation

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  • 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.<ref name="Interesting Engineering">{{#invoke:citation/CS1|citation

|CitationClass=web }}</ref> The hotel was later renamed the Hyatt Regency Crown Center, and is currently operated by Sheraton.<ref name="The News">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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  • Los Angeles, United States:
  • 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.<ref>{{#invoke:citation/CS1|citation

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  • 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.<ref>{{#invoke:citation/CS1|citation

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Partnerships

In 2013, Hyatt partnered with MGM Resorts International in bringing 12 MGM properties in Las Vegas to Hyatt booking channels, as well as in-depth collaborations with each other's loyalty program.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The partnership ended in 2023 when MGM partnered with Marriott International instead.

In 2018, Hyatt began partnering with Small Luxury Hotels of the World, which allowed World of Hyatt members to earn and redeem points during their stays at participating SLH properties.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The partnership has since ceased in 2024 following Hyatt's acquisition of Mr & Mrs Smith, a direct booking platform of luxury hotels.

In 2022, Hyatt entered into an exclusive collaboration agreement with Lindner Hotels AG, a German hotel operator, in bringing more than 30 hotels across seven European countries into Hyatt's portfolio under the JdV by Hyatt brand.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In 2024, Hyatt purchased the Me And All Hotels brand from Lindner.

Loyalty program

Hyatt operates a loyalty program called World of Hyatt, which replaced Gold Passport on March 1, 2017.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> This program includes membership tiers of base members, Discoverists, Explorists, and Globalists. The program offers Hyatt members benefits such as room upgrades and complimentary breakfast, based on how many nights they stayed in Hyatt-affiliated hotels or how much they spend in Hyatt properties.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Recognition

Fortune magazine ranked Hyatt #32 on its list of "America's Best Companies to Work For" in 2019,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> rising to #16 in 2021.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The Human Rights Campaign (HRC) has awarded the company 100% in the HRC Equality Index for more than ten years, last in 2020.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Sustainability

Animal welfare

In 2011, Hyatt announced that it would source 100% cage-free eggs by 2025.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

See also

References

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