Hyatt was founded by Jay Pritzker in 1957. Along with his brother Donald Pritzer and other Pritzer family members, the organization expanded into a North American management and public hotel ownership company in 1962. On December 31, 2004, all Hyatt assets in its entirety - owned and managed Pritzker ventures, including Hyatt Corporation and Hyatt International Corporation was consolidated to Hyatt Hotels Corporation. The corporate office is headquartered in downtown Chicago, Illinois.
On the Hyatt’s website “About Us”, Hyatt Hotels Corp. reports that it manages, franchises, owns and develops Hyatt-branded hotels, resorts, and residential and vacation ownership properties worldwide. The company’s full service hotels operate under five brands, including Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency and Hyatt. As of December 31, 2010, the company’s worldwide portfolio consists of 453 Hyatt-branded properties with 177 managed properties; 132 franchised properties; 90 owned and 6 leased properties.”
Mark S. Hoplamazian, President and CEO, of Hyatt Hotels Corporation addressed shareholders by informing them that, according to 2010 year-end figures, “earnings increased substantially, but mindful that room rates, revenue and earnings levels remain well below levels achieved a few years ago. There are two primary avenues of earnings growth: a)
Improvements in operating results from existing hotels that we own, manage and franchise b)
Addition of new properties under each of the Hyatt brands.
For the year ending December 31, 2010, Hyatt Hotels has improved margins at comparable owned hotels by 1.8 percentage points, an achievement that was particularly meaningful given that much of the top-line improvement during the year stemmed from increases in occupancy.
Hyatt’s mission is to “provide authentic hospitality by making a difference in the lives of the people we touch every day. Their focus in pursuit of goals is to become the most preferred brand in...
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