Hyatt Hotel Financial Analysis Team 7 Chun Tung Leung Miaolin Li Nanxi Yan Yilian Feng 4/12 Hyatt hotel Corporate history of Hyatt Hotel Hyatt hotel was first established in Los Angeles airport in 1957 as a small hotel. It quickly grew in its assets and other hotels. In 1967, the hotel opened another branch called Hyatt regency Atlanta, Georgia. This hotel featured ultra modern designs with state-of –the art 20 storey lobby. In 1969, about 13 Hyatt hotels were operational across United States. In the same period, the company established Hyatt Regency Hong Kong; hence forming Hyatt International Corporation, the portfolio of the company started to diversify very fast, and established itself firmly in luxury resort industry through the opening of Hyatt Regency Maui Resort and Spa based in Hawaii.
Hyatt has six diverse brands, which are specifically designed in order to deliver the best experience reflecting high standards of life, luxury, comfort, values, attitudes and aspirations of the clients who are the main stakeholders. The Hyatt hotel is run by a group of talented and highly skilled professionals whose visions and aspirations is to make Hyatt Hotels the leading brand in hotel and hospitality section.
The executive chairman is Thomas J. Pritzker; Mark Hoplamazian is the president and also the CEO and Director. Harmit Singh is the chief finance officer. We also have among others Charles Floyd, who is the chief operating officer of North America and Robert Webb who is the chief Human resources Officer. Hyatt hotel has been able to use the latest technology together with high class food and beverage preferences in order to effectively and efficiently meet the growing customer demand.
There has been advancement in the establishment of free Wi-Fi, room entertainment, ultra-modern Jacuzzis and other devices which enhance self service. The major challenge facing the Hyatt Hotel is the general economic downturn which has affected almost all hospitality sectors in the world. The administration is busy launching rigorous initiatives which will rely heavily on information technology in order to improve their marketing objectives and more so the profitability goals. Another challenge s the financial and staffing constraints, the executive management of the hotel have employed strategies which will make use of technology in order to ensure stronger business growth. The major competitors of Hyatt hotel are basically based in North America, Europe and Asia.
The luxury hotel industry has actually suffered major competition especially in the major global economic downturn.
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