Hyatt’s restructuring will put the hotel group in a position to consider launching an initial public offering by the end of the year, the Financial Times reported, citing company chairman and chief executive Tom Pritzker. In its online edition, the newspaper said Pritzker declined to comment on whether Hyatt would actually launch an IPO but cited him as saying a three-year restructuring will allow the group to comply with Sarbanes-Oxley rules for quoted companies by the end of 2006.
The restructuring ‘gives us options we didn’t have before,’ Pritzker told the newspaper in an interview.
‘We will be tax compliant, we will be able to file financial statements on a timely basis,’ he said.
‘Could we go public? Yes, we could go public. Could we merge with someone? Yes, we could merge with someone,’ Pritzker added.