1957– Jay Pritzker bought Hyatt House motel next to LAX.
Hyatt Hotels Corporation, known for managing and franchising a diverse portfolio of hotels, resorts, and vacation properties, is substantially owned by the Pritzker family, a notable name in the hospitality industry. The company’s origins can be traced back to the entrepreneurial ventures of the Pritzker family, which have significantly influenced the expansion of the Hyatt brand over the years.
The foundation of Hyatt dates back to 1957 when Jay Pritzker purchased the Hyatt House motel adjacent to the Los Angeles International Airport. This marked the beginning of a major expansion and evolution of the brand. The Hyatt brand saw significant growth under the guidance of the Pritzker family, evolving through various phases including the introduction of luxury brands like Park Hyatt and Grand Hyatt, as well as Hyatt Resorts which are designed to reflect the local area and offer numerous activities and facilities.
Throughout its history, Hyatt has undergone several key developments. For instance, in the 1980s, the company experienced both growth and challenges, such as the tragic collapse of skywalks at the Kansas City Hyatt Regency Hotel. In the 1990s, Hyatt focused on streamlining operations and cost savings to address challenges related to the high cost of running its hotels. This period also marked the beginning of Hyatt’s venture into franchising, expanding its reach further.
In the 2000s, Hyatt and Hyatt International were consolidated under a single entity named Global Hyatt Corp, which later became Hyatt Hotels Corporation. The company continued to grow and diversify its portfolio, including the launch of its first lifestyle brand, Andaz, and the acquisition of various hotel chains and groups such as AmeriSuites, Summerfield Suites, and Apple Leisure Group.
This journey reflects the dynamic evolution of Hyatt Hotels Corporation, from a single motel in Los Angeles to a global hospitality leader, under the leadership and vision of the Pritzker family and other key figures in the company oai_citation:1,Hyatt – Wikipedia oai_citation:2,Hyatt Corporation — Company History.
Who owns Hyatt and founder story
The Shay, located in Culver City, is part of the Destination by Hyatt brand, which is owned by Hyatt Hotels Corporation. This 148-room boutique hotel, notable for its diverse collection of independent hotels, resorts, and residences, embodies the spirit of its location while being connected to a larger brand network. It opened as Hyatt’s first urban hotel in Southern California, aiming to celebrate the area’s creative community and rich history oai_citation:1,The Shay will open as part of Destination by Hyatt Hotels oai_citation:2,The Shay, A Destination By Hyatt Hotel, Debuts In Los Angeles oai_citation:3,LA’s Newest Hotel, The Shay, Now Open.