Travelers interested in luxury lodgings can check in for the
Hyatt touch. The company is one of the world's top
operators of luxury hotels and resorts with more than 500 managed,
franchised, and owned properties in nearly 50 countries. Its core
Hyatt Regency brand offers hospitality services targeted primarily
to business travelers and upscale vacationers. The firm also
operates the upscale, full service Hyatt, Grand Hyatt,
and Andaz brands, as well as Park Hyatt (luxury), Hyatt Place
(select service), and Hyatt Summerfield Suites (extended stay)
brands. Although Hyatt Hotels was formed in 2004, the Hyatt chain
traces its roots back to 1957.
Hyatt has hotels all over the world. Outside the US, the company
has existing properties in Europe (France, Germany,
Italy, Switzerland, and the UK); the Middle East (Azerbaijan,
Kyrgyz Republic, Saudi Arabia); Latin America (Argentina
and Brazil); and Asia (India, Indonesia, Japan, and South
Korea). Almost 80% of the company's revenues come from properties
located in the US, while the remaining 20% of revenues come from
Sales and Marketing
Hyatt uses a sales team located in global and regional sales
offices around the world. Hyatt Gold Passport and Hyatt.com are the
key components of its marketing strategy. Hyatt Gold Passport is a
guest recognition and loyalty program. Hyatt.com is the chain's
primary online source of information and reservation booking.
Hyatt's revenue increased in fiscal 2013 compared to fiscal 2012
and 2011. The company brought in about $4.18 billion during fiscal
2013 after claiming $3.9 billion during fiscal 2012 and about $3.7
billion back in fiscal 2011. Hyatt's net income improved to $207
million in fiscal 2013, up from $88 million in fiscal 2012.
In the US Hyatt focuses its expansion efforts on
under-penetrated markets, mostly through management and franchising
agreements. A key part of its strategy is to increase its franchise
and managed properties, a business model that is associated with
lower costs than outright ownership.
The company expects to double its properties in New York City by
the end of 2014. While nearly 80% of the company's revenues come
from the US, approximately 70% of its new hotels will be located
outside North America.
As part of its international strategy, Hyatt is focusing on
markets such as Brazil, China, India, Russia, Latin America, and
the Middle East for growth. The company has some 50 hotels open or
under development in China in key markets such as Beijing, Hong
Kong, Macau, Shanghai, and Shenzhen. Hyatt has also expanded in
India, bringing the total count of hotels under development there
to more than 50.