CHICAGO--(BUSINESS WIRE)--
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today
announced the pricing of its public offering of $400,000,000 million
principal amount of 4.375% senior notes due 2028. Hyatt intends to use
the proceeds from this offering for general corporate purposes, which
may include the full or partial redemption of its 6.875% Senior Notes
due 2019, repayment of secured debt, share repurchases, acquisitions, or
any other general corporate purpose we deem necessary or advisable, and
to pay related fees and expenses.
The offering is being made pursuant to an automatically effective
registration statement filed with the Securities and Exchange Commission
and 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.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan
Securities LLC are acting as joint book-running managers for the
offering. Electronic copies of the preliminary prospectus supplement and
accompanying prospectus relating to the offering may be obtained from
the joint book-running managers by contacting: Deutsche Bank Securities
Inc. toll free at 1-800-503-4611; Goldman Sachs & Co. LLC toll free at
1-866-471-2526; or J.P. Morgan Securities LLC collect at 1-212-834-4533.
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 amount and timing of share repurchases and 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 and our quarterly reports on Form 10-Q, 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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https://www.businesswire.com/news/home/20180807005980/en/
Hyatt Hotels Corporation
Investor Contact:
Amanda Bryant,
312.780.5539
amanda.bryant@hyatt.com
or
Media
Contact:
Franziska Weber, 312.780.6106
franziska.weber@hyatt.com
Source: Hyatt Hotels Corporation