CHICAGO--(BUSINESS WIRE)--
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today
announced that certain of its stockholders that are investment funds
associated with The Goldman Sachs Group, Inc. (the “Selling
Stockholders”) intend to offer for sale in an underwritten secondary
offering 4,000,000 shares of Class A common stock of the Company
pursuant to the Company’s shelf registration statement on Form S-3 filed
with the Securities and Exchange Commission (the “SEC”). The Selling
Stockholders will receive all of the proceeds from this offering. No
shares are being sold by the Company.
Deutsche Bank Securities and BofA Merrill Lynch are acting as
underwriters for the offering.
The offering is being made only by means of a prospectus supplement and
accompanying prospectus. Copies of the preliminary prospectus supplement
and accompanying prospectus related to the offering may be obtained from
Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, New York 10005-2836, by email to prospectus.cpdg@db.com
or by telephone at (800) 503-4611; and BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North
Carolina 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com.
An automatic shelf registration statement on Form S-3 (including a
prospectus) relating to these securities was filed with the SEC on May
22, 2017 and became effective upon filing. Before you invest, you should
read the prospectus in that registration statement and the documents
incorporated by reference in that registration statement, as well as the
prospectus supplement related to this offering. Copies of the
registration statement are available at no charge on the SEC’s website
at www.sec.gov.
This press release shall not constitute a solicitation of an offer to
buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such jurisdiction.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a portfolio of 13 premier brands. As of March
31, 2017 the Company's portfolio included 708 properties in 56
countries. The Company's purpose to care for people so they can be their
best informs its business decisions and growth strategy and is intended
to create value for shareholders, build relationships with guests and
attract the best colleagues in the industry. The Company's subsidiaries
develop, own, operate, manage, franchise, license or provide services to
hotels, resorts, branded residences and vacation ownership properties,
including under the Park Hyatt®, Miraval®, Grand
Hyatt®, Hyatt Regency®, Hyatt®, Andaz®,
Hyatt Centric®, The Unbound Collection by Hyatt™,
Hyatt Place®, Hyatt House®, Hyatt Ziva™,
Hyatt Zilara™ and Hyatt Residence Club®
brand names and have locations on six continents.
FORWARD-LOOKING STATEMENTS
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Exchange Act of 1934. Our actual results, performance or
achievements may differ materially from those expressed or implied by
these forward-looking statements. In some cases, you can identify
forward-looking statements by the use of words such as “may,” “could,”
“expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,”
“predict,” “potential,” “continue,” “likely,” “will,” “would” and
variations of these terms and similar expressions, or the negative of
these terms or similar expressions. Such forward-looking statements are
necessarily based upon estimates and assumptions that, while considered
reasonable by us and our management, are inherently uncertain. Factors
that may cause actual results to differ materially from current
expectations include, among others, general economic uncertainty in key
global markets and a worsening of global economic conditions or low
levels of economic growth; the rate and the pace of economic recovery
following economic downturns; levels of spending in business and leisure
segments as well as consumer confidence; declines in occupancy and
average daily rate; limited visibility with respect to future bookings;
loss of key personnel; hostilities, or fear of hostilities, including
future terrorist attacks, that affect travel; travel-related accidents;
natural or man-made disasters such as earthquakes, tsunamis, tornadoes,
hurricanes, floods, oil spills, nuclear incidents and global outbreaks
of pandemics or contagious diseases or fear of such outbreaks; our
ability to successfully achieve certain levels of operating profits at
hotels that have performance guarantees in favor of our third-party
owners; the impact of hotel renovations; risks associated with our
capital allocation plans and common stock repurchase program, including
the risk that our common stock repurchase program could increase
volatility and fail to enhance stockholder value; the seasonal and
cyclical nature of the real estate and hospitality businesses; changes
in distribution arrangements, such as through internet travel
intermediaries; changes in the tastes and preferences of our customers,
including the entry of new competitors in the lodging business;
relationships with colleagues and labor unions and changes in labor
laws; financial condition of, and our relationships with, third-party
property owners, franchisees and hospitality venture partners; the
possible inability of third-party owners, franchisees or development
partners to access capital necessary to fund current operations or
implement our plans for growth; risks associated with potential
acquisitions and dispositions and the introduction of new brand
concepts; the timing of acquisitions and dispositions; failure to
successfully complete proposed transactions (including the failure to
satisfy closing conditions or obtain required approvals); unforeseen
terminations of our management or franchise agreements; changes in
federal, state, local or foreign tax law; increases in interest rates
and operating costs; foreign exchange rate fluctuations or currency
restructurings; lack of acceptance of new brands or innovation; our
ability to successfully implement our new global loyalty platform, and
the level of acceptance of the new program by our guests; general
volatility of the capital markets and our ability to access such
markets; changes in the competitive environment in our industry,
including as a result of industry consolidation, and the markets where
we operate; cyber incidents and information technology failures;
outcomes of legal or administrative proceedings; violations of
regulations or laws related to our franchising business; and other risks
discussed in the Company's filings with the SEC, including our annual
report on Form 10-K, which filings are available from the SEC. We
caution you not to place undue reliance on any forward-looking
statements, which are made only as of the date of this press release. We
do not undertake or assume any obligation to update publicly any of
these forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in other
factors affecting forward-looking statements, except to the extent
required by applicable law. If we update one or more forward-looking
statements, no inference should be drawn that we will make additional
updates with respect to those or other forward-looking statements.
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Source: Hyatt Hotels Corporation