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Hyatt Hotels Corporation Essay

3902 words - 16 pages

W14443

GLOBALIZATION OF HYATT PLACE1

Gevork Papiryan wrote this case solely to provide material for class discussion. The author does not intend to illustrate either
effective or ineffective handling of a managerial situation. The author may have disguised certain names and other identifying
information to protect confidentiality.

Copyright © 2014, Richard Ivey School of Business Foundation

Version: 2014-09-11

In August 2006, Global Hyatt Corporation opened the world’s first Hyatt Place hotel just outside Chicago
in Lombard, Illinois. The Lombard location was the first Hyatt Place-branded hotel to open following
Global Hyatt Corporation’s recent acquisition of AmeriSuites, ...view middle of the document...

3
1
This case has been written on the basis of published sources only. Consequently, the interpretation and perspectives
presented in this case are not necessarily those of Hyatt Hotels Corporation or any of its employees.
2
“Hyatt Corporation Announces Acquisition of AmeriSuites Hotels; Formation of Global Hyatt Corporation Progresses,”
hospitalitynet, December 9, 2004, www.hospitalitynet.org/news/4021529.html, accessed May 16, 2014.
3
Michel Santoli, “Hyatt’s Travelin’ Man,” Barron’s, July 14, 2012,

Page 2

9B14M070

Over the following decade, Jay’s younger brother Donald was responsible for the day-to-day operations
and Jay for the financial strategy and acquisitions. They made Hyatt the fastest-growing hotel chain in the
United States. After Donald’s death in 1972, Jay continued the business and shaped Hyatt into a major
competitor in the hospitality industry.
In 1969, Hyatt opened its first overseas hotel, the Hyatt Regency Hong Kong. The Hyatt Regency Maui,
which the company opened in 1980, was the company’s groundbreaking resort-as-destination concept.4 In
1980, Hyatt introduced its higher-level service brands Grand Hyatt and Park Hyatt.
In June 2004, 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 Corporation. This created a hospitality company with a single balance sheet, a single organization
and a single focus. On June 30, 2009, Global Hyatt Corporation changed its name to Hyatt Hotels
Corporation. The company ranked among the world’s top hotel corporations with the highest total sales.5
To help disentangle these holdings, the family called on Mark Hoplamazian, a Pritzker executive and
honorary family member. Navigating the family’s fractious politics, Hoplamazian worked to weave
together the multiple strands of the hospitality business now known as Hyatt Hotels. As the CEO since
2006, he also shepherded the company through its late 2009 initial public offering and oversaw its
subsequent growth into a multi-brand lodging firm.6
In 2006, Global Hyatt Corporation created two select-service brands, Hyatt Place and Hyatt Summerfield
Suites. In 2007, Hyatt introduced its Andaz brand and opened its first hotel without the Hyatt name — the
Andaz Liverpool Street in London, England. Despite its brand awareness, the company was 10th in the
list of the top worldwide hotel groups with the greatest number of rooms (see Exhibit 1).
As of the beginning of 2011, Hyatt Hotels Corporation managed, franchised, owned and developed Hyattbranded hotels, resorts and residential and vacation ownership properties around the world. The
company’s worldwide portfolio consisted of 453 properties in 45 countries, under brand names that
ranged from the ultra-luxury Park Hyatt and upscale Grand Hyatt and Hyatt Regency to the lowercategory Hyatt Place and Hyatt House. The...

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