May 21, 2018 5:40 AM ET

Hotels, Restaurants and Leisure

Company Overview of Hyatt Hotels Corporation

Company Overview

Hyatt Hotels Corporation, a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, residential, and other properties. It operates in four segments: Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, and EAME/SW Asia Management and Franchising. The company operates its properties under the Hyatt, Park Hyatt, Miraval, Grand Hyatt, Hyatt Regency, Andaz, Hyatt Centric, The Unbound Collection by Hyatt, Hyatt Place, Hyatt House, Hyatt Ziva, Hyatt Zilara, echale, Hyatt Residence Club, Hyatt Residences, World of Hyatt, and Hyatt Resorts brands and trademarks. As of March 31, 2018, its portfol...

150 North Riverside Plaza

8th Floor

Chicago, IL 60606

United States

Founded in 1957

45,000 Employees

Phone:

312-750-1234

Key Executives for Hyatt Hotels Corporation

Hyatt Hotels Corporation does not have any Key Executives recorded.

Hyatt Hotels Corporation Key Developments

Hyatt Hotels Corporation Opens 166-Room Hyatt Centric Las Condes Santiago and 254-Room Hyatt Centric San Isidro Lima

Hyatt Hotels Corporation on May 9, 2018, announced the opening of the 166-room Hyatt Centric Las Condes Santiago, and the opening of the 254-room Hyatt Centric San Isidro Lima on May 7, 2018, marking the Hyatt Centric brand’s entry into these two South American countries. Hyatt Centric Las Condes Santiago is the second Hyatt hotel in Chile, joining Hyatt Place Santiago/Vitacura, and Hyatt Centric San Isidro Lima is the first Hyatt hotel to open in Peru. Both new hotels are owned and managed by Talbot Hotels S.A., as part of franchise agreements entered into with a Hyatt affiliate. Hyatt Centric Las Condes Santiago offers 166 guest rooms featuring a high-style, eclectic design and modern furnishings with local Chilean craftsmanship. Floor-to-ceiling windows invite guests to take in skyline views of the hotel’s unbeatable location right in the center of Santiago’s financial district, locally known as 'Sanhattan.' Its signature restaurant, Talbó Brasserie, presents upscale, authentic Chilean cuisine with a French influence, impressing both guests and local community alike. For moments of relaxation, guests are invited to take in panoramic skyline views of the Andes Mountains from the striking rooftop bar and outdoor pool. For meetings and events, Hyatt Centric Las Condes Santiago offers up to 7,100 square feet of flexible, technology-equipped space and the support of a dedicated meetings and events staff. The first Hyatt hotel in Peru, Hyatt Centric San Isidro Lima is strategically located on Basadre Avenue near leading global corporations, foreign embassies, notable restaurants, Huaca Huallamarca archeological site, and Bosque El Olivar public park. The hotel features 254 spacious guestrooms and suites featuring artwork and design celebrating renowned Peruvian artists like Pool Guillén, Manuel Figari and Perci Zorrilla. The hotel’s signature restaurant, Isidro Bistro Limeño, is a Peruvian-French bistro concept created uniquely for the hotel by Corporate Executive Chef Carlos Testino in collaboration with Grupo Aramburu.

Hyatt Hotels Corporation Announces the Opening of Hyatt Centric Brickell Miami

Hyatt Hotels Corporation announced the opening of Hyatt Centric Brickell Miami, located in Miami's thriving Brickell Financial District. The newly constructed full-service lifestyle hotel, located at 1102 Brickell Bay Drive, is situated within the first 19 floors of the new 83-story Panorama Tower, the tallest building in Miami. The hotel is owned by Concord Aztec Brickell LLC, a joint venture comprised of Aztec Group and Concord Hospitality, which operates the hotel. Designed as launch pad for modern explorers seeking authentic local experiences, the 208-room Hyatt Centric Brickell Miami puts guests in the center of Miami's action. Local experts are on hand to help travelers discover tailored hidden gems and lesser-known adventures throughout the city. The hotel's introductory room rate starts at $229 per night.

Hyatt Hotels Corporation Announces Earnings Results for the First Quarter of 2018; Revises Earnings Guidance for the Full Year 2018

Hyatt Hotels Corporation announced earnings results for the first quarter of 2018. Net income attributable to the company was $411 million, or $3.40 per diluted share, in the first quarter of 2018, compared to $55 million, or $0.42 per diluted share, in the first quarter of 2017. Adjusted net income attributable to the company was $40 million, or $0.33 per diluted share, in the first quarter of 2018, compared to $89 million, or $0.68 per diluted share, in the first quarter of 2017. Adjusted EBITDA decreased 7.3% to $202 million, down 8.4% in constant currency. The company's current outlook incorporates the adoption of new accounting standards which is expected to result in an approximate $32 million reduction in 2018 fiscal year Adjusted EBITDA, compared to the initial outlook provided on February 14, 2018, which was based on historical accounting principles generally accepted in the U.S. (GAAP). Consistent with prior disclosures, the vast majority of the Adjusted EBITDA reduction is attributable to the accounting for deferred gains. Also reflected in the revised outlook is the March 2018 portfolio sale to Host Hotels & Resorts Inc. which reduced estimated 2018 fiscal year Adjusted EBITDA by approximately $40 million. The company is revising the following information for the 2018 fiscal year: Net income is expected to be approximately $495 million to $553 million, compared to previous expectation of $176 million to $215 million. Adjusted EBITDA is expected to be approximately $765 million to $785 million, compared to previous expectation of approximately $805 million to $825 million. These estimates also include a favorable impact from foreign currency of approximately $5 million (low end of forecast) to $10 million (high end of forecast), compared to previous expectation of $0 (low end of the forecast) to $5 million (high end of the forecast). Depreciation and amortization expense is expected to be approximately $320 million to $324 million, compared to previous expectation of $367 million to $371 million. Interest expense is expected to be approximately $76 million, compared to previous expectation of $75 million to $76 million. The effective tax rate is expected to be approximately 27% to 29%, compared to previous expectation of 27% to 31%. Capital expenditures are expected to be approximately $375 million, compared to previous expectation of approximately $350 million. The increase is largely attributable to investments funded by cash proceeds from the 2017 sale of Avendra LLC.

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