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.
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.
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.
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).
Donald died in 1972 and Jay continued to run the company.
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.
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.
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. 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.
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. According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman. 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.
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.
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[update], Hyatt had over 627 hotels worldwide.
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.
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.
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.
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.
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.
In March 2021, Hyatt announced the official opening of Hyatt's 1,000th hotel worldwide, Alila Napa Valley in St. Helena, California.
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.
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.
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.
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
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.
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.
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.
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.
Hyatt operates a loyalty program called World of Hyatt, which replaced Gold Passport on March 1, 2017.
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.