Hyatt Hotels Corp. is an international hospitality company that dates to 1957, when investor Jay Pritzker, anticipating that business executives were likely to frequent hotels near airports, purchased the Hyatt House adjacent to Los Angeles International Airport. In 1968, Hyatt International was formed and became a separate public company. Later taken private, substantially all of the hospitality assets owned by the Pritzker family’s business interests were consolidated as a single entity, Hyatt Hotels Corp.
Today, Hyatt manages, franchises, owns and develops hotels, resorts and residential and vacation properties. As of June 30, its holdings included 456 properties in 44 countries. Hyatt has 85,000 “associates,” 45,000 of whom work directly for the company. Others are employed by franchisees, work for third-party owners of hotels or are hourly workers. Revenues in 2010 of more than $3.5 billion placed the Chicago-headquartered chain at No. 581 on the Fortune 1,000.
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