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 six continents.
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, and Dream Hotel Group in 2022.[2][3][4]
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).[7]
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.[8]
In 1968, Hyatt International was formed, to operate hotels outside the United States.[9] 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).[10]
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.[11]
Alongside the Hyatt Regency brand, the company introduced the Grand Hyatt brand in 1980, with the opening of the Grand Hyatt New York.[7] That same year, the boutique Park Hyatt brand was also introduced.[7]
The Pritzkers took Hyatt International private as well, in 1982.[9] 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.[14]
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.[3] 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.[15]
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.[18] According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas PritzkerasExecutive Chairman.[19] 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.[20]
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.[21]
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.[22]
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.[23]
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.[24]
In March 2021, Hyatt announced the official opening of Hyatt's 1,000th hotel worldwide, Alila Napa Valley in St. Helena, California.[25]
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.[26]
In 2024, the company is expanding its presence in India with seven hotels (1,115 rooms), including a historic hotel at The Noor-Us-Sabah palace in Bhopal after its restoration.[27]
Hyatt-branded properties have traditionally catered to upscale or business customers; its properties were either full-serviceorboutique 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.[2]
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.[28]
Formerly AMR Collection and AMResorts of Apple Leisure Group, Inclusive Collection houses Hyatt's all-inclusive resort brands following its 2021 acquisition of ALG. Brands include:
Impression by Secrets - top-tier all-inclusive adults-only resorts in tranquil settings
Hyatt Ziva – luxury all-inclusive family resorts (initially developed by Playa Hotels and Resorts)
Hyatt Zilara – luxury all-inclusive adults-only resorts (initially developed by Playa Hotels and Resorts)
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.
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.[35]
Grand Hyatt Bali, opened in Nusa Dua resort complex in 1991 as the largest hotel in Bali at the time, featuring 630 rooms.[36]
Cairo, Egypt: The Grand Nile Tower Hotel was operated as the Grand Hyatt Cairo from 2003 to 2011, when Hyatt pulled out of the country as a result of the 2011 Egyptian revolution (though it ultimately returned to Egypt in 2021, with the opening of Hyatt Regency Cairo West[37]).
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.
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.[39]
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.[40] The hotel was later renamed the Hyatt Regency Crown Center, and is currently operated by Sheraton.[41]
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.[citation needed]
Century Plaza Hotel, operated by Hyatt from 2006 to 2016, was restored in 2021 as the Fairmont Century Plaza.[43]
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.[44]
Manila, Philippines: The Grand Hyatt Manila is located in the Metrobank Center, the first supertall building in the Philippines (318m)
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.[45]
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.
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.[48]
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.[49]
Tehran, Iran: The Parsian Azadi Hotel was opened as the Hyatt Crown Tehran in 1978, but Hyatt was forced to pull out after only a few months of operation, due to the Iranian Revolution. It was later reopened as an independent hotel.
Zanzibar, Tanzania: Park Hyatt Zanzibar is the first 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.[53]
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.[54]
In 2023, Hyatt announced the acquisition of Mr & Mrs Smith, described as a travel club platform that provides direct booking access to a curated collection of over 1,500 luxury and boutique hotels.[55]
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.[4]
Hyatt operates a loyalty program called World of Hyatt, which replaced Gold Passport on March 1, 2017.[56] This program includes membership tiers of discoverist, explorist, and globalist, and it offers Hyatt members benefits like higher room type upgrades and complimentary breakfast.[57]
Fortune magazine ranked Hyatt #32 on its list of "America's Best Companies to Work For" in 2019,[58] rising to #16 in 2021.[59] The Human Rights Campaign (HRC) has awarded the company 100% in the HRC Equality Index for more than ten years, last in 2020.[60][61]
US$6.67 billion (2023)
US$305 million (2023)
Media related to Hyatt at Wikimedia Commons
