Third Consecutive Year, Hyatt Named One Of Fortune Magazine`s Top 50 Companies For Minorities

Hyatt Hotels Corporation`s leadership in hospitality-industry diversity issues has led Fortune magazine to name the company as one of “America`s 50 Best Companies for Minorities,” for a third straight year. Hyatt ranks number 19 on the list, which is published in the magazine`s July 9, 2001 issue. Fortune noted that Hyatt had the second most diverse work force on the list. In addition, Hyatt was ranked fourth in managerial diversity among all companies. The rankings are the centerpiece of a cover story package entitled “America`s Best Companies for Minorities.”

“We take great pride in seeing our diversity efforts recognized in such a prestigious forum,” said Scott Miller, president, Hyatt Hotels Corporation. “Promoting diversity is an integral part of our corporate culture and is a goal toward which we have devoted significant resources for many years,” he added.
Some of Hyatt`s key diversity initiatives include:
Tying incentive compensation for divisional- and hotel-level managers to their performance in creating programs to increase women and minority participation at all management levels.

A Diversity Council that reviews, analyzes and makes recommendations on internal and external diversity issues. The Diversity Council has addressed issues such as linking incentive compensation to diversity initiatives, partnerships with organizations that promote increased diversity in the hospitality industry and community involvement.
New mandatory diversity training for managers throughout the company. The training emphasizes sensitivity and awareness. In 2000, a total of 2,763 managers and supervisors participated in either WorkPlace Values or Valuing Differences training. And, throughout the coming year, over 35,000 line employees will be required to participate in WorkPlace Values 2 training.

The Hyatt Hotel Fund for Minority Lodging Management Students, which provides financial support to the best minority students enrolled in hospitality management programs. This year the endowment for the fund reached $550,000, and we made a $300.000 commitment for 2001. Since its inception, the Fund has awarded 89 scholarships totaling $178,000.
Hyatt`s partnership with the Historically and Predominantly Black Colleges and Universities, in which Hyatt offers students networking opportunities and professional development workshops given by minority Hyatt general managers. Hyatt pays for students to attend the National Hotel and Restaurant Show in New York, at which point they can interview for internships or management trainee positions at Hyatt. Last year 18 of 27 students attending the Show received an offer for an internship or management trainee position.