Hyatt Hotels & Resorts Adjusts Management in Global Initiative


Hyatt Hotels Corporation, which operates 123 Hyatt Hotels & Resorts in the United States, Canada and the Caribbean, and Hyatt International Corporation, which operates 84 Hyatt Hotels & Resorts in 39 countries throughout the world, has announced a series of management steps in furtherance of its Global Hyatt initiative.
This initiative, which began last autumn, is intended to improve coordination of Hyatt`s U.S. and international hotel management operations, real estate activities and corporate functions to better position the companies for future growth.


Thomas J. Pritzker, 52, Chairman and CEO of Hyatt Corporation, the parent of Hyatt Hotels Corporation, and AIC Holding Co., the parent of Hyatt International Corporation, has appointed Doug Geoga as President of Hyatt Corporation and AIC Holding Co. Both Hyatt Corporation and AIC Holding Co. are wholly-owned by various Pritzker family business interests.
Mr. Pritzker expressed confidence in Mr. Geoga and Hyatt`s senior management team and his enthusiasm for the Global Hyatt initiative and its objectives. He stated, “We are fortunate to have Doug Geoga and such an experienced team to direct Hyatt through these challenging times and to find in this environment the growth opportunities which we are committed to pursue.”

Nicholas J. Pritzker, 57, Vice Chairman of Hyatt Corporation and AIC Holdings Co. and chairman of Hyatt`s executive committee, will also be involved in supervising the Global Hyatt initiative, as well as continuing his involvement in global development projects.

Mr. Geoga`s responsibilities will include direction of the Global Hyatt initiative. Mr. Geoga, 47, is a 20-year Hyatt veteran who had previously served as President of Hyatt Hotels Corporation from 1994 - 1999. He will report to Tom Pritzker.
Since 2000, Mr. Geoga has been the President of the Hospitality Investment Fund, LLC, also wholly-owned by Pritzker family business interests. Hospitality Investment Fund has been engaged in various hospitality-related investments, including the acquisition in late 2000 of U. S. Franchise Systems, Inc, a franchisor of mid-level and economy hotel products including Hawthorn Suites Hotels and Inns which recently became a participant in the Gold Passport Programme, Hyatt`s highly regarded frequency programme.

Mr. Geoga expressed his view that the timing of the Global Hyatt initiative in the midst of one of the most challenging periods in the history of the lodging business, was appropriate. He observed, “One of the primary objectives of the integration of our global activities is to assure the quality and consistency of Hyatt`s products and services, which is particularly important during these highly competitive times. We believe that we have the ability to accomplish that while preserving the unique cultural sensitivities that have allowed Hyatt to flourish in many different business environments around the world. In addition, it is my expectation that this process will produce synergies and efficiencies, the benefits of which can be particularly important to the owners of Hyatt-managed hotels throughout the world.
Difficult times such as these present investment, acquisition and growth opportunities for organisations such as Hyatt. We are committed to the hospitality business for the long-term. We are fundamentally optimistic about its future and fortunate enough to enjoy the financial capabilities of acting upon those opportunities.”

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Other Important Management Changes

Bernd Chorengel, 58, a 33-year Hyatt employee, will continue to serve as President of Hyatt International Corporation and a member of the board of directors of Hyatt International Corporation. He will also become a member of the board of directors of Hyatt Hotels Corporation.

Scott D. Miller, 50, who had served as President of Hyatt Hotels Corporation since 2000, was appointed Vice Chairman of Hyatt Hotels Corporation where he will act as an advisor to the Global Hyatt Program.

Edward W. Rabin, 55, was named President of Hyatt Hotels Corporation. Mr. Rabin, whose tenure with Hyatt is 33 years, was previously Executive Vice President and COO of Hyatt Hotels Corporation.

Steven R. Goldman, 41, was named Executive Vice President - Development and Acquisitions of the parent companies of both Hyatt Hotels Corporation and Hyatt International Corporation, where he will oversee the development and acquisition activities of both companies. Mr. Goldman was previously Executive Vice President of Starwood Hotels & Resorts Worldwide, Inc., and was previously employed by Hyatt Development Corporation from 1986 - 1990.

Thomas F. O`Toole, 45, was named Senior Vice President - Strategy and Systems of the parent companies of both Hyatt Hotels Corporation and Hyatt International Corporation. He will direct the information technology, distribution strategy and related functions of both companies. Mr. O`Toole was previously Senior Vice President - Marketing and Information Technology of Hyatt Hotels Corporation.

Kirk A. Rose, 43, was named Senior Vice President - Finance of the parent companies of both Hyatt Hotels Corporation and Hyatt International Corporation. He will oversee the finance and accounting functions of both companies. Mr. Rose was previously Senior Vice President - Finance of Hyatt Hotels Corporation.


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