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Hyatt Hotels Corporation is an international operator of hotels.
Hyatt Center (completed in 2005 & located in downtown Chicago at 71 South Wacker Drive) is the headquarters for Hyatt corporation. Prior to this, the corporate headquarters was around the corner at 200 West Madison Street.
History
Hyatt Hotels Corporation was born upon purchase of the Hyatt House, at Los Angeles International Airport on September 27, 1957. The original owners were entrepreneurs, Hyatt von Dehn and Jack D. Crouch. Von Dehn was eager to get out of the hotel business after a few years, so he sold his share in the hotel to Jay Pritzker. Jay's younger brother Donald, under Jack Crouch's mentorship, took over day-to-day operations of the company and acquired motels and hotels, building a brand that remains among the leading names in the hospitality industry. Under Donald's leadership, Hyatt became the fastest growing hotel chain in the United States until his death in 1972.
Hyatt became famous after the chain opened the world's first atrium hotel in 1967, the Hyatt Regency Atlanta, a decade after opening its first hotel.
In 1969, Donald opened Hyatt's first overseas hotel, the Hyatt Regency Hong Kong (which closed at the end of 2005 and was demolished, the new one will open in 2009). In 1980, the Grand Hyatt and Park Hyatt brands were introduced. Hyatt has become known for its resorts after the opening of Hyatt Regency Maui in 1980. Today Hyatt has over 340 hotels worldwide.
In 1972, Hyatt formed Elsinore Corporation, a subsidiary to operate the Four Queens Hotel and Casino and the Hyatt Lake Tahoe. After Hyatt became a private company in 1979, Elsinore was spun off into a public company. The company opened the Playboy Hotel and Casino as a joint venture with Playboy Enterprises.
In December 2004, Hyatt Hotels Corporation announced it would acquire 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 is being rebranded and converted to a new concept called Hyatt Place. With Hyatt Place, Hyatt Hotels Corporation will better compete with the limited service products Courtyard by Marriott and Hilton Garden Inn offered by industry leaders Marriott International and Hilton Hotels Corp.
In December 2005, Hyatt Hotels Corporation announced a second limited service acquisition, Summerfield Suites. Again the seller was the Blackstone Group. Blackstone had inherited Summerfield Suites from its purchase of Wyndham International. Summerfield Suites will be rebranded as Hyatt Summerfield Suites and positioned to compete in the upscale extended stay market against brands such as Residence Inn, Homewood Suites and Staybridge Suites.
On August 6, 2009, it was reported that Hyatt Hotels Corporation filed plans to raise up to $1.15 billion in an initial share sale. Hyatt plans to list the shares on the New York Stock Exchange under the symbol H. According to the filing, Mark S. Hoplamazian will serve as CEO and Thomas Pritzker will serve as Executive Chairman. The public offering is a result of the breakup of the Pritzker family empire. Accused of looting family trusts, Thomas and cousins Penny and Nicholas were forced to wrest control of the family businesses when she and other family members were sued by cousin Liesel Pritzker claiming fraud and seeking damages in excess of $6 billion .
On August 31, 2009 three Hyatt hotels in Boston laid off their entire housekeeping staffs, outsourcing the work to a Georgia company for wages that were approximately half of those of the fired workers, creating strong public backlash. Massachusetts Governor Deval Patrick threatened a boycott of the hotels by state employees traveling on official business. The housekeepers, who were fired without previous notice although some of them had worked for the Hyatt for over 20 years, became collectively known as the Hyatt 100.
In December, 2009, Hyatt was named the "Massachusetts Scrooge of the Year" by Jobs with Justice.
Brands
The Hyatt Group operates several chains of hotel. The Hyatt Regency brand is the oldest brand in the Hyatt hotel chain, with the Grand Hyatt and Park Hyatt brands being introduced in 1980. Of these properties, some are styled as "Resort" properties, and may feature spas or other recreational facilities.
Other brands include the Hyatt Place concept, designed as a limited service offering targeted to the business traveler. An extended stay chain, Summerfield Suites, was acquired by Hyatt in 2005, and features 20 locations in the United states. Hyatt also launched a new brand, Andaz, in April 2007. The first hotel to bear this brand is be The Great Eastern Hotel in London, with additional properties planned for New York and Austin, TX.
In addition to hotels, the Hyatt Group also operates an upscale timeshare program through Hyatt Vacation Ownership, Inc. The program is known as Hyatt Vacation Club. It currently has over a dozen locations, some of which are located within or connected to Hyatt hotels. Additionally, the group runs a chain of upscale retirement homes known as Classic Residence by Hyatt and offers retail home décor and furnishings through Hyatt at Home, an online store featuring luxury products.
Leadership
Mark S. Hoplamazian is the current President and CEO of Hyatt Hotels Corporation. He took over the position on November 28, 2006.
Notable properties
World events and Hyatt
Trinidad – The 2009 Summit of the Americas, to be held at the Hyatt Regency Trinidad
Australia – The 2006 G20 Meeting of Finance Ministers and Central Bank Governors was held at the Grand Hyatt in Melbourne between November 18 and November 19, 2006.
Israel – On November 17, 2001, Israeli tourism minister Rehavam Ze'evi was assassinated in the Jerusalem Hyatt Regency on Mount Scopus.
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.
Philippines – The Hyatt Terraces Baguio in the northern city of Baguio collapsed after a July 16, 1990 earthquake.
United States
- During Hurricane Katrina, the Hyatt Regency Hotel in New Orleans, Louisiana received significant damage as almost all of its windows were blown out and the bottom floor was torn apart by flood damage. This hotel located in the Central Business District has not re-opened.
- The Hyatt Regency Kansas City in Kansas City, Missouri was the site of one of the worst hotel disasters in US history. On July 17, 1981 two of the three skybridges that transversed 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. 114 people were killed and over 200 were injured. The hotel was later renamed the Hyatt Regency Crown Center.
- During Hurricane Alicia in 1983, the Hyatt Regency Houston in Downtown Houston sustained damage where 74 windows were damaged; Alicia was a Category 3 storm.
Hyatt Gold Passport
Hyatt Gold Passport is Hyatt's hotel rewards or loyalty program. Membership is free and can be completed either online or with the assistance of a reception desk agent at the hotel. Points can be accumulated and used for redemption nights, upgrades or converted into airline miles with partnering airlines.
Membership levels
- Gold - The basic level of membership. You can start accumulating points towards free nights starting with the first stay.
- Platinum - Earned after 5 eligible stays or 15 eligible nights, whichever comes first.
- Diamond - Earned after 25 eligible stays or 50 eligible nights, whichever comes first.
Gallery
Notes
- ^ http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/
- ^ Atlanta hotels
- ^ Maui Hotels
- ^ Hyatt Locations
- ^ "Elsinore Corporation". The Gale Group, Inc. . http://www.fundinguniverse.com/company-histories/Elsinore-Corporation-Company-History.html . Retrieved 4 August 2009 .
-
^
Knightly, Arnold M. (2009-08-04). "Gaming pioneer Jeanne Hood dies".
Las Vegas Review-Journal
. http://www.lvrj.com/news/52422462.html
. Retrieved 4 August 2009
.
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