In 1957, a businessman named Jay Pritzker bought the Hyatt House motel in Los Angeles. This was the start of the Hyatt Hotels Corporation.
The company went public in 1962, after it had grown a lot in both the U.S. and other countries. After a short time apart, Hyatt’s domestic and international businesses came together to form Hyatt Hotels Corporation in 2004.
Hyatt has more than 1,150 hotels in more than 70 countries on every continent except Antarctica as of January 2022. It now has more than a dozen different brands, from high-end to luxury, as well as some all-inclusive options.
Hyatt opened its first lifestyle brand hotel in Southeast Asia in October of this year, giving it a bigger presence around the world. This hotel is one of many Hyatt locations that are opening up around the world as the company grows.
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Even though the COVID pandemic caused business to slow down, Hyatt trades 40% higher than it did five years ago. The market capitalization is now over $9.5 billion, which is more than 183% higher than at the same time last year. Revenue numbers are still going up.
Hyatt’s success should keep going for a long time, since people like to stay at hotels that they know and trust when they travel for business or with their families.