Hyatt Reorganizes Citing Maximum Efficiency

Hyatt Hotels & Resorts today announced that Hyatt Hotels Corp. and Hyatt International Corp. have reorganized as Hyatt Corp. and, without formally merging operations, will work with buyers in a more coordinated fashion.

Hyatt Hotels Corp. operates 123 properties in the United States, the Caribbean and Canada, while Hyatt International operates 84 properties outside of these markets. The company said the new structure will improve efficiency and facilitate expansion.

Among the major lodging players, Hyatt is relatively small compared with such competitors as Marriott International or Hilton Hotels Corp. Wall Street observers noted that the Pritzker family, which controls Hyatt, might be looking to make acquisitions or preparing to spin off the company as a publicly traded entity. Doug Geoga, who formerly headed Hyatt Hotels Corp., was named president of the new Hyatt Corp., which he referred to as "Global Hyatt." Edward Rabin, who had been COO of Hyatt Hotels Corp., was named president.