Aug 03 2009
Hyatt Hotels Filed for an Initial Public Stock Offering
The Hyatt Hotels Corp. owned by the Pritzker family wants to make a secon run as publicly traded firm.
The Pritzker family founded the Hyatt Hotel chain in 1957 and they own most of the rest of the business. The Hyatt earned $168 million in 2008 on sales of $3.8 billion.
“A stock offering would give the Pritzkers a load of capital to use to acquire choice properties as the recession forces industry consolidation.” Los Angeles Times reported.
The Hyatt Hotel Corp. used to be publicly traded firm, but the Pritzkers took it private in 1979. The family “hasn’t specify the number of shares it hoped to sell, or give an expected price range.” Los Angeles Times reported.
