- In late January, Hyatt released a statement announcing the expected opening of 50 new hotels and resorts by the end of 2020 and an additional 140 by 2022.
- The company is particularly focusing on growth within the luxury sector.
- Currently, the Hyatt has 20 brands, 875 properties, and 100,000 employees and the founding family is one of the richest families in the world, with 11 total billionaires.
- The chain has been around for 62 years the first Hyatt location was purchased on a whim by a businessman in 1957.
- Visit Business Insider's homepage for more stories.
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The Hyatt story: How a packed LAX motel and a $2.2 million offer scribbled on a napkin spawned one of the world's biggest hotel empires
Hyatt Hotels Corporation
In 1957, a Chicago-based lawyer took a business trip to Los Angeles that resulted in the purchase of the hotel closest to the airport.
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![Graça Machel was born in 1945 [CGTN]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Graça Machel was born in 1945 [CGTN]")
Right now, there are over 200,000 Hyatt hotel rooms.
Those rooms span 20 brands and 875 properties and are supported by 100,000 employees worldwide and there are about to be a whole lot more of them.
In late January, Hyatt Hotels Corporation announced the expected opening of more than 50 hotels in 2020 and 140 additional hotels by 2022. In December , Hyatt announced that 20 of those new hotels will specifically contribute to its luxury portfolio.
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The Park Hyatt, the chain's first luxury brand, is celebrating its 40th anniversary this year. But the very first Hyatt was purchased over a decade prior to the founding of Park Hyatt, in 1957, when a well-to-do Chicago lawyer took a business trip to Los Angeles that resulted in him buying the hotel closest to the airport, mostly on a whim.
Today, his family is one of the richest in the world, with 11 total billionaires nine of whom are on the 2019 Forbes 400 list of the wealthiest people in America.
A spokesperson for the Hyatt didn't immediately respond to a request for comment from Business Insider.
Keep reading for a closer look at the history of the Hyatt hotel empire.
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See Also:
- 17 of the most captivating professional photos shortlisted in the 2020 Sony World Photography Awards
- Hilton has temporarily closed 150 hotels in China due to the coronavirus outbreak. That's more than 60% of the hotels the brand has in the country.
- My husband and I vacation separately without each other or our daughter. Here's why.
SEE ALSO: Hyatt is the latest hotel chain vowing to cut mini shampoo bottles from its rooms, and it's as good for the environment as it is for business
DON'T MISS: The 17 best hotels in the world, according to travelers
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