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$1 Billion raised by Hyatt in IPO
Hyatt Hotels Corp. has started the trading of their shares on New York Stock Exchange today. The corporation completed public offering of about 1$ billion shares. This was for the first time that the company issued shares to the company people.
The company on June 30, had 413 properties and 120,000 rooms, offered 38 million shares of $ 25 each on Wednesday. Hyatt, a private company for nearly 30 years, was taken over by a family of Jay Pritzker, the founder. Its international interests were also taken care of and were merged in a single company in the year 2004.
Hyatt presently stands third in international hotel ranking behind Marriott International and Starwood Hotels & Resorts Worldwide in United States, as per the data collected from Business Travel News, Business Travel Survey 2009 and U.S. Securities and Exchange Commission. The corporation then went Private in the year 2007 after it was taken over by the Blackstone Group (BT Nonline, 9 July 2007).
As per registration statement filed with SEC, the total revenues of Hyatt in 2008 were $3.8 billion. They were$ 1.6 billion in 2009 through June 30
