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From Wikipedia, the free encyclopedia

Hyatt Hotels Corporation
Public
Traded as NYSEH
Russell 1000 Component
Industry Hospitality
Founded September 27, 1957; 60 years ago (1957-09-27)
Headquarters Hyatt Center
Chicago, Illinois,
United States
Key people
Thomas J. Pritzker[1]
(Executive chairman)
Mark S. Hoplamazian[1]
(President and CEO)
Products Hotels, Resorts
Brands
  • Park Hyatt
  • Grand Hyatt
  • Hyatt Regency
  • Hyatt Hotels
  • Andaz
  • Hyatt Centric
  • Unbound Collection
  • Hyatt Place
  • Hyatt House
  • Ziva
  • Zilara
  • Residence Club
  • Miraval
Revenue $4.4 Billion [2]
Number of employees
96,627 (2015)[2]
Website www.hyatt.com
 Hyatt Center, headquarters of Hyatt Hotels
Hyatt Center, headquarters of Hyatt Hotels
 Hyatt Regency in Hong Kong (left)
Hyatt Regency in Hong Kong (left)
 The Hyatt Regency Hotel was built in 1957 and is located at 2301 SE 17th Street in Fort Lauderdale, Florida. The hotel was designed by Richard F. Humble, a follower of Frank Lloyd Wright.
The Hyatt Regency Hotel was built in 1957 and is located at 2301 SE 17th Street in Fort Lauderdale, Florida. The hotel was designed by Richard F. Humble, a follower of Frank Lloyd Wright.

Hyatt Hotels Corporation is an American multinational owner, operator, and franchiser of 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. As of September 30, 2017, Hyatt has 739 properties in 57 countries.[3] In 2017, Fortune magazine listed Hyatt as the 32nd-best U.S. company to work for.[2]

YouTube Encyclopedic

  • 1/5
    Views:
    850 855
    5 732
    76 492
    49 987
    26 042
  • The Disaster That Changed Engineering: The Hyatt Regency Collapse
  • Big Changes to Chase Hyatt Signup Bonus: Which Is Better?
  • The Hyatt Employment Experience - Hotel Jobs and Careers
  • Christopher S. Hyatt Ph.D. (Unedited Interview)
  • The Disciplined Pursuit of Less - Michael Hyatt Podcast S03E12

Transcription

Today’s guest video is from Grady at Practical Engineering. He’s talking about a tragedy: and the lessons we learned and the reasons why it happened are fascinating. Also, he made his own props. Grady, take it away. In the summer of 1981, the Hyatt Regency Hotel in Kansas City, Missouri, hosted a large party in the multi-story atrium area. During the event, suspended walkways on the second and fourth floors collapsed, killing over 100 people and injuring over 200 more. At the time, the accident was the worst structural failure in US history. In the wake of the disaster, investigators discovered a change to the original design of the walkways that was proposed by the fabricator and mistakenly approved by the structural engineer. What, at first glance, seemed like a subtle adjustment to the design, turned out to be the root cause of the failure. Two suspended walkways spanned the atrium in the Hyatt Regency with the second-floor walkway directly below the fourth-floor walkway. Each was supported by a series of box girders suspended by hanger rods and retained by nuts and washers. The original design called for a single pair of hanger rods, which would pass through each fourth-floor girder to the second-floor girder below. The fabricator responsible for constructing the walkways objected to this plan because it would require screw threads for the entire length of the hanger rods, which could easily be damaged during construction. So, they proposed to split the hanger rods into two sets. One to connect the fourth-floor walkway to the roof and one to connect the second-floor walkway up to the fourth-floor girders. If you don’t notice the significance of this change, you’re not alone. It was approved by the engineer without a detailed review or calculations, which would have revealed its inherent flaw. In this setup, which represents the original design, the load of the two walkways is independently transferred to the hanger rods. Notice how I can lift each girder without affecting the other. Now, let’s look at the design change. In this configuration, notice that the entire weight of the second-floor walkway is being borne not directly by the hanger rod, but instead, by the girder above. If I lift the fourth-floor walkway, the second-floor walkway is lifted as well. The hanger rods are still carrying the same load at the top, but the two nuts on the upper girder are supporting the weight of both walkways. This simple change effectively doubled the load on those bolted connections. Imagine that you and a friend are both hanging on a rope. The original design is the equivalent of you both holding onto the rope independently, whereas the design change is the equivalent of your friend hanging onto your ankles. The total weight supported by the rope is the same in both cases, but your likelihood of maintaining a grip is not. This subtle change was identified by investigators as the primary cause of failure. With so many people on the walkways that evening, the load on the connections was too great. The box girders split open, slipping past the washers and nuts leading to the collapse of both walkways. There is an implicit handshake between a society and its engineers. We hardly have a choice but to trust that the constructed environment that we live in is safe and sound. When an engineer seals a design, he or she takes responsibility for its accuracy and safety to the general public. But the err is human and that includes engineers. So, we try to develop conventions and processes that can catch and correct from mistakes before they get too far. And that includes studying and learning from errors made in the past. The failure of the Hyatt Regency walkways is an important case study taught to nearly every engineer with the goal that such a tragedy will never occur again. Practical Engineering is filled with great videos, so go subscribe! I would recommend starting with Grady’s video on hydrostatics. Next time, a guest video with a prop that has been to the moon.

Contents

History

The original owners of the Hyatt House hotel, a luxury hotel situated near the Los Angeles Airport, were entrepreneurs Hyatt Robert von Dehn and Jack Dyer Crouch.[when?][citation needed] In 1957, the hotel was purchased by entrepreneur Jay Pritzker for $2.2 million. Jay's younger brother Donald Pritzker also took on an important role in the company. Considering the growing use of air travel for business, the Pritzker brothers realized that locating a high quality hotel near a major airport was a valuable business strategy. Within two years, they opened another Hyatt House hotel near the San Francisco Airport and then another near the Seattle–Tacoma Airport.[4]

Over the following decade, acquisitions were made, and Hyatt became the fastest-growing hotel chain in the United States. Donald died in 1972 and Jay continued to run the company.[5]

In 1969, Hyatt opened its first hotel outside the United States, the Hyatt Regency Hong Kong.[6] In 1980 the Grand Hyatt and Park Hyatt brands were introduced. Hyatt runs resort hotels, starting with the Hyatt Regency Maui in 1980.[7] As of 30 November 2015 Hyatt had over 627 hotels worldwide.[8]

In 1972 Hyatt formed Elsinore Corporation, a subsidiary to operate the Four Queens Hotel and Casino and the Hyatt Regency Lake Tahoe Resort, Spa & Casino. After Hyatt became a private company in 1979, Elsinore was spun off as a public company. The company opened the Playboy Hotel and Casino as a joint venture with Playboy Enterprises.[9][10]

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 Corporation. On June 30, 2009, Global Hyatt Corporation changed its name to Hyatt Hotels Corporation.[11]

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. According to a Hyatt press release, in January 2012 Hyatt Summerfield Suites were rebranded as Hyatt House to compete in the "upscale extended stay market" against Residence Inn, Homewood Suites and Staybridge Suites.[12]

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.[13] According to the filing Mark S. Hoplamazian was to serve as CEO and Thomas Pritzker as Executive Chairman.[14] The public offering is 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.[15]

As of 31 December 2014 Hyatt Corporation's worldwide portfolio consisted of 587 properties.[16] On September 1, 2011, Hyatt acquired Hotel Sierra, which has 18 properties in 10 states. Along with Hyatt Summerfield Suites hotels, several of these properties were rebranded as Hyatt house in January 2012.[17]

Hyatt Hotels Corporation operates several chains. The Human Rights Campaign (HRC) awarded the company 100% in the HRC Equality Index for eight consecutive years.[18] 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. Other brands include Hyatt Place, designed as a limited service offering for business travelers. An extended stay chain, Summerfield Suites, was acquired by Hyatt in 2005, and was renamed Hyatt House in January 2012. Hyatt launched the Andaz brand in April 2007.[19] The first Andaz hotel was the Great Eastern Hotel in London, followed by hotels in San Diego, West Hollywood, Shanghai[20] and New York City (Andaz Wall Street & Andaz 5th Avenue).

On November 2013 Hyatt introduced their first all-inclusive resort brands, Ziva and Hyatt Zilara. As of 2015, Hyatt Ziva and Hyatt Zilara offer all inclusive accommodations in Cancun, Puerto Vallarta, Los Cabos and Rose Hall, Montego Bay, Jamaica.

On October 28, 2015, Hyatt announced that they were in advanced talks to acquire Starwood Hotels in the coming weeks 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.[21] 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.[22] The Hyatt Regency Karachi will feature Pakistan’s first night-lit 36-hole golf.[22]

Full-service lodging

  • Park Hyatt are residential luxury Hyatt hotels, mid-sized hotels in cities considered premier destinations.[23]
  • Andaz hotels are upscale lifestyle boutique-style hotels.[24]
  • Grand Hyatt hotels are large luxury hotels in major cities and holiday destinations.[25]
  • Hyatt Regency is Hyatt's flagship hotel brand that are mid to large scaled premium hotels intended for both leisure and business travelers, including those attending conventions, located in urban, suburban, airport, convention and resort destinations around the world.[26]
  • Hyatt hotels are smaller full-service hotels with 150 to 350 rooms located close to major business centers.[27]
  • Hyatt Centric is a new, full service lifestyle brand designed for business and leisure travelers.[28]

Select-service lodging

  • Hyatt Place hotels are mid-sized hotels catering for families.

Extended-stay lodging

  • Hyatt House (formerly known as Hyatt Summerfield Suites or Summerfield Suites by Wyndham and Hotel Sierra) properties are extended-stay residential hotels and smaller-to-mid-sized modern hotels in urban and suburban locations in the United States.[29]

All-inclusive resorts

Timeshares

  • Hyatt Residence Club are timeshare properties with the same service as the Hyatt brand.[31]

Notable properties

In 2013, the hotel was awarded for the category New Hotel Construction and Design for India at Kuala Lumpur.[17]

World events

1980–1989

1990–1999

2000–present

Loyalty program

Hyatt operates a loyalty program called World Of Hyatt, replacing Gold Passport on March 1, 2017.

See also

References

  1. ^ a b "Hyatt Hotels - Management Team". Hyatt Hotels Corporation. Retrieved 2010-07-02. 
  2. ^ a b c "100 Best Companies to Work For - Fortune". Fortune. 
  3. ^ "Hyatt Hotels Corporation - Investor Relations - Our Company". investors.hyatt.com. Retrieved 2017-11-17. 
  4. ^ Tritsch, Shane (2007-06-21). "Tremors in the Empire - Chicago magazine - December 2002 - Chicago". Chicagomag.com. Retrieved 2012-10-30. 
  5. ^ "History of Hyatt Corporation". Funding Universe. Retrieved 2012-10-30. 
  6. ^ "New World Development". Nwd.com.hk. Archived from the original on March 8, 2012. Retrieved 2012-10-30. 
  7. ^ "Hawaii Island Resort -Hyatt Regency Maui Resort & Spa". hyatt.com. 
  8. ^ "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30. 
  9. ^ "Elsinore Corporation". The Gale Group, Inc. Retrieved 4 August 2009. 
  10. ^ Knightly, Arnold M. (2009-08-04). "Gaming pioneer Jeanne Hood dies". Las Vegas Review-Journal. Retrieved 4 August 2009. 
  11. ^ Hyatt Hotels Corporation 2010 annual report, Part 1, Item 1, page 3
  12. ^ "Hyatt Officially Welcomes Hyatt House to the Neighborhood". Hyattpressroom.com. Retrieved 2012-10-30. 
  13. ^ "Hyatt Hotels Corporation Prices Initial Public Offering". Hyattpressroom.com. Retrieved 2012-10-30. 
  14. ^ Nadja Brandt (August 6, 2009). "Hyatt to Raise Up to $1.15 Billion in Share Sale". BloombergLPcom. 
  15. ^ Andrews, Suzanna. "Shattered Dynasty". Vanity Fair. Retrieved 2012-10-30. 
  16. ^ "About Hyatt". Hyatt.com. 2012-06-30. Retrieved 2012-10-30. 
  17. ^ "Hotel Sierra Joins Hyatt". Hyatt.com. 2011-09-01. Retrieved 2012-10-30. 
  18. ^ "Our Brands". Hyattpressroom.com. Retrieved 2012-10-30. 
  19. ^ Hyatt Hotels Corporation Announces Andaz(TM) Archived 2007-07-06 at the Wayback Machine.
  20. ^ "Boutique 5 Star Hotels in Shanghai, China丨Andaz Xintiandi, Shanghai丨Hyatt". hyatt.com. 
  21. ^ "Bahria Town in deal to build Hyatt hotels - The Express Tribune". The Express Tribune. 2016-11-14. Retrieved 2016-11-14. 
  22. ^ a b "Bahria Town, Hyatt Hotels sign landmark accord". www.thenews.com.pk. Retrieved 2016-11-14. 
  23. ^ "Park Hyatt Hotels". 
  24. ^ "Andaz Hotels by Hyatt". 
  25. ^ "Grand Hyatt Hotels". 
  26. ^ "Hyatt Regency Hotels". 
  27. ^ "Hyatt Hotels". 
  28. ^ "Hyatt Centric Hotels". 
  29. ^ "Hyatt House Hotels". 
  30. ^ "Hyatt All Inclusive Resorts". 
  31. ^ "Hyatt Residence Club". 
  32. ^ "Fall and rise of Lafayette Place mall - Opinion - The Boston Globe". BostonGlobe.com. 
  33. ^ https://www.reuters.com/article/2015/02/02/il-hyatt-hotels-idUSnBw025804a+100+BSW20150202
  34. ^ San Francisco Regency – Sold
  35. ^ Luxury Tashkent Hotel | Hyatt Regency Tashkent
  36. ^ Jaquetta White, The Times-Picayune. "Hyatt Regency will reopen in October, 6 years after Hurricane Katrina". NOLA.com. Retrieved 2012-10-30. 

External links

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