falsedesktopH2020-12-31000146817421000011{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☑\tAccelerated filer\t☐\nNon-accelerated filer\t☐\tSmaller reporting company\t☐\n\t\tEmerging growth company\t☐\n", "q10k_tbl_1": "\tPART I\t\n\tDisclosure Regarding Forward-Looking Statements\t1\nItem 1.\tBusiness\t4\nItem 1A.\tRisk Factors\t23\nItem 1B.\tUnresolved Staff Comments\t51\nItem 2.\tProperties\t52\nItem 3.\tLegal Proceedings\t57\nItem 4.\tMine Safety Disclosures\t57\n\tInformation about our Executive Officers\t58\n\tPART II\t\nItem 5.\tMarket for Registrant's Common Equity Related Stockholder Matters and Issuer Purchases of Equity Securities\t61\nItem 6.\t(Removed and Reserved)\t63\nItem 7.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t64\nItem 7A.\tQuantitative and Qualitative Disclosures About Market Risk\t90\nItem 8.\tFinancial Statements and Supplementary Data\t91\nItem 9.\tChanges in and Disagreements With Accountants on Accounting and Financial Disclosure\t91\nItem 9A.\tControls and Procedures\t91\nItem 9B.\tOther Information\t92\n\tPART III\t\nItem 10.\tDirectors Executive Officers and Corporate Governance\t93\nItem 11.\tExecutive Compensation\t93\nItem 12.\tSecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\t93\nItem 13.\tCertain Relationships and Related Transactions and Director Independence\t94\nItem 14.\tPrincipal Accountant Fees and Services\t95\n\tPART IV\t\nItem 15.\tExhibits and Financial Statement Schedule\t96\nItem 16.\tForm 10-K Summary\t96\nSignatures\t\t97\n", "q10k_tbl_2": "Brand\tSegment\tCustomer Base\tDecember 31 2020 Rooms (1)\t\t\t\tPrimary Selected Competitors\tKey Locations\n% of Our Managed and Franchised Properties (1)\tAmericas Region\tASPAC Region\tEAME/SW Asia Region\n\tLuxury\tLeisure and business; small meetings\t3%\t1622\t4158\t2425\tFour Seasons Mandarin Oriental Ritz-Carlton St. Regis The Peninsula\tAuckland Bangkok Buenos Aires St. Kitts Kyoto New York Paris Vienna Milan Sydney Tokyo Washington D.C.\n\tLuxury/Wellness\tLeisure\t<1%\t362\t0\t0\tCal-a-vie Canyon Ranch Golden Door\tAustin Berkshires Tucson\n\tLuxury\tLeisure and business; large and small meetings social events\t13%\t12871\t15278\t4036\tJW Marriott Conrad Fairmont InterContinental\tAbu Dhabi Beijing Dubai Hong Kong Kochi Mumbai Nashville Nassau Rio de Janeiro San Francisco Singapore Shanghai Tokyo Xian\n\tLuxury\tLeisure and business; small meetings social events\t1%\t50\t1099\t296\tOne&Only Six Senses Aman Banyan Tree COMO\tAnji Bali Big Sur Bishangarth Goa Jabal Al Akhdar Koh Russey Island Surakarta Wuzhen\n\tLuxury\tLeisure and business; small meetings\t2%\t2179\t1578\t1775\tW Edition SLS Viceroy Kimpton\tAbu Dhabi Amsterdam Delhi Dubai London Munich Maui New York Seoul Singapore Vienna Tokyo Xiamen\n\tLuxury\tBusiness and leisure; small meetings\t2%\t2355\t801\t1685\tMarriott Autograph Collection Curio Collection by Hilton\tAustin Barcelona Biarritz Cannes Chongqing London Miami Beach Nashville New Orleans Paris Phoenix Stockholm\n\tUpper-Upscale\tBusiness and leisure; large and small meetings social events associations\t2%\t3906\t0\t0\tMarriott Autograph Collection Curio Collection by Hilton Tapestry Collection by Hilton\tCharleston Cle Elum Maui Phoenix Snowmass Lake Tahoe Stowe Vail\n", "q10k_tbl_3": "Brand\tSegment\tCustomer Base\tDecember 31 2020 Rooms (1)\t\t\t\tPrimary Selected Competitors\tKey Locations\n% of Our Managed and Franchised Properties (1)\tAmericas Region\tASPAC Region\tEAME/SW Asia Region\n\tUpper-Upscale\tConventions business and leisure; large and small meetings social events associations\t38%\t58420\t17649\t14830\tMarriott Sheraton Hilton Renaissance Westin\tBoston Cape Town Chicago Delhi Dubai Hong Kong Johannesburg London Los Angeles Madrid Mexico City Orlando Paris Sofia\n\tUpper-Upscale\tBusiness and leisure; small meetings\t1%\t1315\t0\t741\tMarriott Hilton Westin\tNew York Paris Seattle\n\tAll-Inclusive\tLeisure; small meetings\t1%\t2234\t0\t0\tBeaches Dreams\tCancun Cap Cana Puerto Vallarta Montego Bay San Jose del Cabo\n\tAll-Inclusive\tLeisure; adult-only; small meetings\t<1%\t919\t0\t0\tSandals Secrets\tCancun Cap Cana Montego Bay\n\tLuxury\tLeisure and business; small meetings\t1%\t2543\t0\t0\tW Edition SLS Viceroy Kimpton\tCabo San Lucas Dallas Nashville New York Seattle Washington D.C.\n\tUpper-Upscale\tLeisure and business; small meetings\t3%\t5511\t1082\t1344\tACE AC Hotels Moxy Canopy Hotel Indigo\tBangalore Boston Dublin Hong Kong Madrid Miami Montevideo New York Philadelphia Tokyo\n\tUpscale\tLeisure and business; small meetings\t-%\t0\t0\t0\tCitizen M Moxy AC Hotels Motto Aloft\t0\n\tUpper- Upscale\tLeisure and business; small meetings\t1%\t1888\t202\t0\tKimpton Canopy Marriott Autograph Collection\tBaltimore Beijing Chicago New York San Francisco\n\tUpscale\tExtended stay guests; business and leisure; small meetings\t7%\t14390\t953\t687\tResidence Inn by Marriott Homewood Suites\tAustin Boston Dallas Frankfurt Mexico City Miami Paris San Francisco Shanghai\n\tUpscale\tBusiness and leisure; small meetings\t23%\t47654\t4579\t3193\tCourtyard by Marriott Hilton Garden Inn AC Hotels\tAtlanta Chicago Dubai Frankfurt Houston Hyderabad London Miami Paris Phoenix Santiago Shanghai\n", "q10k_tbl_4": "\tAssuming no renewal options are exercised by either party:\tIncluding exercise of extension options that are in Hyatt's sole discretion:\nFull service management agreements:\t\t\nAmericas\t13 years\t18 years\nEAME/SW Asia\t16 years\t20 years\nASPAC\t14 years\t15 years\nSelect service management agreements:\t\t\nAmericas\t12 years\t28 years\nEAME/SW Asia\t19 years\t33 years\nASPAC\t18 years\t19 years\n", "q10k_tbl_5": "Time Period\tNumber of Shares*\nDuring the 12 month period from November 5 2020 through November 4 2021\t17314426\nDuring the 12 month period from November 5 2021 through November 4 2022\t12886192\nDuring the 12 month period from November 5 2022 through November 4 2023\t7498371\nDuring the 12 month period from November 5 2023 through November 4 2024\t6419886\nDuring the 12 month period from November 5 2024 through November 4 2025\t6419886\nDuring the 12 month period from November 5 2025 through November 4 2026\t6271290\nDuring the 12 month period from November 5 2026 through November 4 2027\t3085908\n", "q10k_tbl_6": "Hotel Property\tLocation\tRooms\t# of Hotels\tOwnership (1)\nOwned and Leased Hotels\t\t\t\t\nFull Service\t\t\t\t\nAmericas Owned:\t\t\t\t\nPark Hyatt Chicago\tChicago IL\t198\t\t100%\nPark Hyatt New York\tNew York NY\t210\t\t100%\nMiraval Arizona Resort and Spa (9)\tTucson AZ\t145\t\t100%\nMiraval Austin Resort and Spa (9)\tAustin TX\t117\t\t100%\nMiraval Berkshires Resort and Spa (9)\tLenox MA\t100\t\t100%\nWyndhurst Manor & Club (9)\tLenox MA\t46\t\t100%\nGrand Hyatt New York (4)\tNew York NY\t1298\t\t100%\nGrand Hyatt Rio de Janeiro\tRio de Janeiro Brazil\t436\t\t100%\nGrand Hyatt San Antonio (4)\tSan Antonio TX\t1003\t\t100%\nThe Confidante Miami Beach\tMiami Beach FL\t354\t\t100%\nThe Driskill (4)\tAustin TX\t189\t\t100%\nHyatt Regency Aruba Resort Spa and Casino (4)\tPalm Beach Aruba Dutch Caribbean\t359\t\t100%\nHyatt Regency Baltimore Inner Harbor (4)\tBaltimore MD\t488\t\t100%\nHyatt Regency Green Bay\tGreen Bay WI\t241\t\t100%\nHyatt Regency Greenwich\tOld Greenwich CT\t373\t\t100%\nHyatt Regency Indian Wells Resort & Spa\tRiverside-San Bernardino CA\t530\t\t100%\nHyatt Regency Lake Tahoe Resort Spa and Casino\tIncline Village NV\t422\t\t100%\nHyatt Regency Long Beach (4)\tLong Beach CA\t531\t\t100%\nHyatt Regency Lost Pines Resort and Spa\tLost Pines TX\t490\t\t100%\nHyatt Regency Miami (4)\tMiami FL\t615\t\t100%\nHyatt Regency O'Hare Chicago\tRosemont IL\t1095\t\t100%\nHyatt Regency Orlando\tOrlando FL\t1641\t\t100%\nHyatt Regency Phoenix\tPhoenix AZ\t693\t\t100%\nHyatt Regency San Antonio Riverwalk (4)\tSan Antonio TX\t630\t\t100%\nHyatt Centric The Pike Long Beach (4)\tLong Beach CA\t138\t\t100%\nAmericas Owned\t\t12342\t25\t\n", "q10k_tbl_7": "Hotel Property\tLocation\tRooms\t# of Hotels\tOwnership (1)\nAmericas Leased:\t\t\t\t\nAndaz West Hollywood (3) (6)\tWest Hollywood CA\t239\t\t-%\nHyatt Regency San Francisco (3) (6)\tSan Francisco CA\t821\t\t-%\nAmericas Leased\t\t1060\t2\t\nTotal Americas Owned and Leased Hotels\t\t13402\t27\t\nEAME/SW Asia Owned:\t\t\t\t\nPark Hyatt Paris-Vendôme\tParis France\t156\t\t100%\nPark Hyatt Zurich (4)\tZurich Switzerland\t138\t\t100%\nAndaz London Liverpool Street (7)\tLondon England\t267\t\t100%\nHyatt Regency Bishkek (4)\tBishkek Kyrgyz Republic\t178\t\t98%\nEAME/SW Asia Owned\t\t739\t4\t\nEAME/SW Asia Leased:\t\t\t\t\nAndaz Amsterdam Prinsengracht (3) (6)\tAmsterdam The Netherlands\t122\t\t-%\nHyatt Regency Cologne (3) (6)\tCologne Germany\t306\t\t-%\nHyatt Regency Mainz (3) (6)\tMainz Germany\t268\t\t-%\nEAME/SW Asia Leased\t\t696\t3\t\nTotal EAME/SW Asia Owned and Leased Hotels\t\t1435\t7\t\nTotal Full Service Owned and Leased Hotels\t\t14837\t34\t\n", "q10k_tbl_8": "Hotel Property\tLocation\tRooms\t# of Hotels\tOwnership (1)\nSelect Service\t\t\t\t\nOwned:\t\t\t\t\nHyatt Place Macaé\tMacaé Brazil\t141\t\t100%\nHyatt Place São José do Rio Preto\tSão José do Rio Preto Brazil\t152\t\t100%\nSelect Service Owned:\t\t293\t2\t\nLeased:\t\t\t\t\nHyatt Place Amsterdam Airport (3) (6)\tAmsterdam The Netherlands\t330\t\t-%\nHyatt Place Atlanta/Buckhead (2)\tAtlanta GA\t171\t\t-%\nSelect Service Leased:\t\t501\t2\t\nTotal Select Service Owned and Leased Hotels\t\t794\t4\t\nUnconsolidated Hospitality Venture Hotels\t\t\t\t\nFull Service\t\t\t\t\nAmericas Unconsolidated Hospitality Ventures:\t\t\t\t\nGrand Hyatt São Paulo\tSão Paulo Brazil\t467\t\t50%\nAndaz Mayakoba Resort Riviera Maya\tPlaya del Carmen Mexico\t214\t\t40%\nHyatt Regency Andares Guadalajara\tZapopan Mexico\t257\t\t50%\nHyatt Regency Columbus (4)\tColumbus OH\t633\t\t24%\nHyatt Regency Crystal City at Reagan National Airport\tArlington VA\t686\t\t50%\nHyatt Regency Huntington Beach Resort and Spa\tHuntington Beach CA\t517\t\t40%\nHyatt Regency Jersey City on the Hudson\tJersey City NJ\t351\t\t50%\nHyatt Centric Downtown Portland\tPortland OR\t220\t\t40%\nHyatt Centric Center City Philadelphia\tPhiladelphia PA\t332\t\t42%\nAmericas Unconsolidated Hospitality Ventures\t\t3677\t9\t\nEAME/SW Asia Unconsolidated Hospitality Ventures:\t\t\t\t\nPark Hyatt Hamburg (3) (5)\tHamburg Germany\t252\t\t-%\nPark Hyatt Milan\tMilan Italy\t106\t\t30%\nGrand Hyatt Mumbai Hotel & Residences\tMumbai India\t548\t\t50%\nAndaz Delhi\tNew Delhi India\t401\t\t50%\nAndaz Vienna Am Belvedere\tVienna Austria\t303\t\t50%\nHyatt Regency Ahmedabad\tAhmedabad India\t208\t\t50%\nEAME/SW Asia Unconsolidated Hospitality Ventures\t\t1818\t6\t\nASPAC Unconsolidated Hospitality Ventures:\t\t\t\t\nGrand Hyatt Bali\tBali Indonesia\t636\t\t10%\nHyatt Regency Bali\tBali Indonesia\t363\t\t10%\nASPAC Unconsolidated Hospitality Ventures\t\t999\t2\t\nTotal Full Service Unconsolidated Hospitality Ventures\t\t6494\t17\t\n", "q10k_tbl_9": "Hotel Property\tLocation\tRooms\t# of Hotels\tOwnership (1)\nSelect Service Unconsolidated Hospitality Ventures\t\t\t\t\nHyatt House Denver/Downtown\tDenver CO\t113\t\t50%\nHyatt House Nashville at Vanderbilt\tNashville TN\t201\t\t50%\nHyatt House San Jose Airport\tSan Jose CA\t165\t\t40%\nHyatt Place Atlanta / Centennial Park\tAtlanta GA\t175\t\t50%\nHyatt Place Celaya\tCelaya Mexico\t145\t\t50%\nHyatt Place Denver/Downtown\tDenver CO\t248\t\t50%\nHyatt Place Glendale / Los Angeles\tGlendale CA\t179\t\t40%\nHyatt Place Los Cabos\tSan José del Cabo Mexico\t157\t\t50%\nHyatt Place Panama City/Downtown\tPanama City Panama\t165\t\t29%\nHyatt Place San Jose Airport\tSan Jose CA\t190\t\t40%\nHyatt Place Tijuana\tTijuana Mexico\t145\t\t50%\nHyatt Place Boston / Seaport District\tBoston MA\t297\t\t50%\nTotal Select Service Unconsolidated Hospitality Ventures\t\t2180\t12\t\nTotal Unconsolidated Hospitality Ventures (8)\t\t8674\t29\t\n", "q10k_tbl_10": "\tDecember 31 2020\t\tDecember 31 2019\t\tDecember 31 2018\t\n\tProperties\tRooms\tProperties\tRooms\tProperties\tRooms\nAmericas Management and Franchising\t\t\t\t\t\t\nFull Service Hotels (a)\t\t\t\t\t\t\nManaged\t164\t72278\t160\t71807\t172\t72627\nFranchised\t73\t21544\t67\t20356\t57\t17981\nFull Service Hotels\t237\t93822\t227\t92163\t229\t90608\nSelect Service Hotels\t\t\t\t\t\t\nManaged\t55\t8132\t62\t9054\t58\t8393\nFranchised\t391\t53912\t356\t49211\t325\t44753\nSelect Service Hotels\t446\t62044\t418\t58265\t383\t53146\nASPAC Management and Franchising\t\t\t\t\t\t\nFull Service Hotels\t\t\t\t\t\t\nManaged\t116\t39327\t110\t36026\t102\t33570\nFranchised\t8\t2520\t6\t1933\t4\t1591\nFull Service Hotels\t124\t41847\t116\t37959\t106\t35161\nSelect Service Hotels\t\t\t\t\t\t\nManaged\t29\t5378\t29\t5307\t23\t3903\nFranchised\t6\t1169\t1\t160\t0\t0\nSelect Service Hotels\t35\t6547\t30\t5467\t23\t3903\nEAME/SW Asia Management and Franchising\t\t\t\t\t\t\nFull Service Hotels\t\t\t\t\t\t\nManaged\t97\t24678\t95\t24323\t81\t21602\nFranchised\t13\t2454\t11\t2098\t6\t1215\nFull Service Hotels\t110\t27132\t106\t26421\t87\t22817\nSelect Service Hotels\t\t\t\t\t\t\nManaged\t17\t2749\t17\t2803\t16\t2531\nFranchised\t5\t1131\t2\t443\t2\t451\nSelect Service Hotels\t22\t3880\t19\t3246\t18\t2982\nTotal Full Service and Select Service Hotels (b)\t974\t235272\t916\t223521\t846\t208617\nAmericas Management and Franchising - All-inclusive\t\t\t\t\t\t\nAll-inclusive\t\t\t\t\t\t\nFranchised\t8\t3153\t8\t3153\t6\t2401\nAll-inclusive\t8\t3153\t8\t3153\t6\t2401\nTotal Managed and Franchised\t982\t238425\t924\t226674\t852\t211018\n", "q10k_tbl_11": "\tDecember 31 2020\t\tDecember 31 2019\t\tDecember 31 2018\t\n\tProperties\tRooms\tProperties\tRooms\tProperties\tRooms\nOwned and Leased Hotels\t\t\t\t\t\t\nFull Service Hotels (a)\t\t\t\t\t\t\nUnited States\t25\t12607\t24\t12608\t25\t13850\nOther Americas\t2\t795\t2\t795\t2\t795\nASPAC\t0\t0\t0\t0\t1\t615\nEAME/SW Asia\t7\t1435\t8\t1593\t8\t1591\nSelect Service Hotels\t\t\t\t\t\t\nUnited States\t1\t171\t1\t171\t1\t171\nOther Americas\t2\t293\t2\t293\t2\t293\nEAME/SW Asia\t1\t330\t1\t330\t1\t330\nTotal Owned and Leased\t38\t15631\t38\t15790\t40\t17645\n", "q10k_tbl_12": "Name\tAge\tPosition\nThomas J. Pritzker\t70\tExecutive Chairman of the Board\nMark S. Hoplamazian\t57\tPresident Chief Executive Officer and Director (Principal Executive Officer)\nJoan Bottarini\t49\tExecutive Vice President Chief Financial Officer (Principal Financial Officer)\nMargaret C. Egan\t51\tExecutive Vice President General Counsel and Secretary\nH. Charles Floyd\t61\tExecutive Vice President Global President of Operations\nPeter Fulton\t63\tExecutive Vice President Group President-EAME/SW Asia\nMalaika L. Myers\t53\tExecutive Vice President Chief Human Resources Officer\nPeter J. Sears\t56\tExecutive Vice President Group President-Americas\nDavid Udell\t60\tExecutive Vice President Group President-ASPAC\nMark R. Vondrasek\t53\tExecutive Vice President Chief Commercial Officer\n", "q10k_tbl_13": "\t12/31/2015\t12/31/2016\t12/31/2017\t12/31/2018\t12/31/2019\t12/31/2020\nHyatt Hotels Corporation\t100.0\t117.5\t156.4\t144.9\t194.3\t161.2\nS&P 500\t100.0\t112.0\t136.4\t130.4\t171.4\t203.0\nRussell 1000 Hotel\t100.0\t126.3\t202.3\t160.5\t231.3\t219.4\n", "q10k_tbl_14": "\tTotal number of shares purchased (1)\tWeighted-average price paid per share\tTotal number of shares purchased as part of publicly announced plans\tMaximum number (or approximate dollar value) of shares that may yet be purchased under the program\nOctober 1 to October 31 2020\t0\t0\t0\t927760966\nNovember 1 to November 30 2020\t0\t0\t0\t927760966\nDecember 1 to December 31 2020\t0\t0\t0\t927760966\nTotal\t0\t0\t0\t\n", "q10k_tbl_15": "(Comparable locations)\t\t\tRevPAR\t\t\n\t\tYear Ended December 31\t\t\nNumber of comparable hotels (1)\t\t2020\t\tvs. 2019 (in constant $)\nSystem-wide hotels\t806\t\t46\t\t(65.4)%\nOwned and leased hotels\t36\t\t49\t\t(72.2)%\nAmericas full service hotels\t208\t\t45\t\t(71.3)%\nAmericas select service hotels\t381\t\t46\t\t(55.9)%\nASPAC full service hotels\t97\t\t58\t\t(59.5)%\nASPAC select service hotels\t20\t\t32\t\t(40.7)%\nEAME/SW Asia full service hotels\t84\t\t41\t\t(68.1)%\nEAME/SW Asia select service hotels\t16\t\t26\t\t(58.0)%\n", "q10k_tbl_16": "\tYear Ended December 31\t\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\tCurrency Impact\nComparable owned and leased hotels revenues\t499\t1664\t(1165)\t(70.0)%\t(2)\nNon-comparable owned and leased hotels revenues\t14\t184\t(170)\t(92.2)%\t(1)\nTotal owned and leased hotels revenues\t513\t1848\t(1335)\t(72.2)%\t(3)\n", "q10k_tbl_17": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nBase management fees\t96\t260\t(164)\t(63.2)%\nIncentive management fees\t22\t151\t(129)\t(85.0)%\nFranchise fees\t63\t141\t(78)\t(55.4)%\nManagement and franchise fees\t181\t552\t(371)\t(67.2)%\nOther fees revenues\t58\t56\t2\t2.8%\nManagement franchise and other fees\t239\t608\t(369)\t(60.7)%\n", "q10k_tbl_18": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nManagement franchise and other fees\t239\t608\t(369)\t(60.7)%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nContra revenue\t(30)\t(22)\t(8)\t(35.6)%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet management franchise and other fees\t209\t586\t(377)\t(64.3)%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_19": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tChange\t\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t1286\t2461\t(1175)\t(47.8)%\nLess: rabbi trust impact\t(28)\t(26)\t(2)\t(5.1)%\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties excluding rabbi trust impact\t1258\t2435\t(1177)\t(48.3)%\n", "q10k_tbl_20": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nComparable owned and leased hotels expenses\t597\t1271\t674\t53.0%\nNon-comparable owned and leased hotels expenses\t22\t144\t122\t84.6%\nRabbi trust impact\t8\t9\t1\t11.6%\nTotal owned and leased hotels expenses\t627\t1424\t797\t56.0%\n", "q10k_tbl_21": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tChange\t\nSelling general and administrative expenses\t321\t417\t(96)\t(22.9)%\nLess: rabbi trust impact\t(52)\t(53)\t1\t2.0%\nLess: stock-based compensation expense\t(24)\t(35)\t11\t31.6%\nAdjusted selling general and administrative expenses\t245\t329\t(84)\t(25.4)%\n", "q10k_tbl_22": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tChange\t\nCosts incurred on behalf of managed and franchised properties\t1375\t2520\t(1145)\t(45.4)%\nLess: rabbi trust impact\t(28)\t(26)\t(2)\t(5.1)%\nCosts incurred on behalf of managed and franchised properties excluding rabbi trust impact\t1347\t2494\t(1147)\t(46.0)%\n", "q10k_tbl_23": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nRabbi trust impact allocated to selling general and administrative expenses\t52\t53\t(1)\t(2.0)%\nRabbi trust impact allocated to owned and leased hotels expenses\t8\t9\t(1)\t(11.6)%\nNet gains (losses) and interest income from marketable securities held to fund rabbi trusts\t60\t62\t(2)\t(3.4)%\n", "q10k_tbl_24": "\tYear Ended December 31\t\t\n\t2020\t2019\tBetter / (Worse)\nHyatt's share of unconsolidated hospitality ventures net losses excluding foreign currency\t(57)\t(22)\t(35)\nHyatt's share of unconsolidated hospitality ventures foreign currency net losses (1)\t(20)\t(3)\t(17)\nNet gains from sales activity related to unconsolidated hospitality ventures (Note 4)\t0\t8\t(8)\nImpairment charges related to investments in unconsolidated hospitality ventures (Note 4)\t(1)\t(7)\t6\nOther\t8\t14\t(6)\nEquity losses from unconsolidated hospitality ventures\t(70)\t(10)\t(60)\n", "q10k_tbl_25": "\tYear Ended December 31\t\t\n\t2020\t2019\tBetter / (Worse)\nIncome (loss) before income taxes\t(960)\t1006\t(1966)\nBenefit (provision) for income taxes\t257\t(240)\t497\nEffective tax rate\t26.8%\t23.9%\t(2.9)%\n", "q10k_tbl_26": "\tYear Ended December 31\t\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\tCurrency Impact\nComparable owned and leased hotels revenues\t511\t1699\t(1188)\t(69.9)%\t(2)\nNon-comparable owned and leased hotels revenues\t14\t184\t(170)\t(92.2)%\t(1)\nTotal segment revenues\t525\t1883\t(1358)\t(72.1)%\t(3)\n", "q10k_tbl_27": "\tYear Ended December 31\t\t\t\t\t\n\tRevPAR\t\tOccupancy\t\tADR\t\n\t2020\tvs. 2019 (in constant $)\t2020\tvs. 2019\t2020\tvs. 2019 (in constant $)\nComparable owned and leased hotels\t49\t(72.2)%\t22.9%\t(52.0)% pts\t215\t(8.7)%\n", "q10k_tbl_28": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nOwned and leased hotels Adjusted EBITDA\t(135)\t339\t(474)\t(139.7)%\nPro rata share of unconsolidated hospitality ventures Adjusted EBITDA\t(13)\t50\t(63)\t(126.7)%\nSegment Adjusted EBITDA\t(148)\t389\t(537)\t(138.0)%\n", "q10k_tbl_29": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nSegment revenues\t\t\t\t\nManagement franchise and other fees\t152\t439\t(287)\t(65.4)%\nContra revenue\t(18)\t(15)\t(3)\t(15.5)%\nOther revenues\t42\t89\t(47)\t(52.5)%\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t1152\t2268\t(1116)\t(49.2)%\nTotal segment revenues\t1328\t2781\t(1453)\t(52.2)%\n", "q10k_tbl_30": "(Comparable System-wide Hotels)\tYear Ended December 31\t\t\t\t\t\t\t\t\t\t\nRevPAR\t\t\t\tOccupancy\t\t\t\tADR\t\t\n2020\t\tvs. 2019 (in constant $)\t\t2020\t\tvs. 2019\t\t2020\t\tvs. 2019 (in constant $)\nAmericas full service\t45\t\t(71.3)%\t\t24.2%\t\t(50.2)% pts\t\t187\t\t(11.7)%\nAmericas select service\t46\t\t(55.9)%\t\t41.3%\t\t(33.7)% pts\t\t111\t\t(20.0)%\n", "q10k_tbl_31": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nSegment Adjusted EBITDA\t90\t380\t(290)\t(76.3)%\n", "q10k_tbl_32": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nSegment revenues\t\t\t\t\nManagement franchise and other fees\t61\t136\t(75)\t(55.3)%\nContra revenue\t(2)\t(2)\t0\t(36.3)%\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t75\t113\t(38)\t(32.8)%\nTotal segment revenues\t134\t247\t(113)\t(45.7)%\n", "q10k_tbl_33": "(Comparable System-wide Hotels)\tYear Ended December 31\t\t\t\t\t\t\t\t\t\t\nRevPAR\t\t\t\tOccupancy\t\t\t\tADR\t\t\n2020\t\tvs. 2019 (in constant $)\t\t2020\t\tvs. 2019\t\t2020\t\tvs. 2019 (in constant $)\nASPAC full service\t58\t\t(59.5)%\t\t37.3%\t\t(35.5)% pts\t\t155\t\t(20.8)%\nASPAC select service\t32\t\t(40.7)%\t\t45.8%\t\t(19.9)% pts\t\t69\t\t(15.0)%\n", "q10k_tbl_34": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nSegment revenues\t\t\t\t\nManagement franchise and other fees\t23\t83\t(60)\t(72.2)%\nContra revenue\t(10)\t(5)\t(5)\t(91.0)%\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t55\t74\t(19)\t(26.3)%\nTotal segment revenues\t68\t152\t(84)\t(55.6)%\n", "q10k_tbl_35": "(Comparable System-wide Hotels)\tYear Ended December 31\t\t\t\t\t\t\t\t\t\t\nRevPAR\t\t\t\tOccupancy\t\t\t\tADR\t\t\n2020\t\tvs. 2019 (in constant $)\t\t2020\t\tvs. 2019\t\t2020\t\tvs. 2019 (in constant $)\nEAME/SW Asia full service\t41\t\t(68.1)%\t\t25.7%\t\t(42.9)% pts\t\t160\t\t(14.9)%\nEAME/SW Asia select service\t26\t\t(58.0)%\t\t33.9%\t\t(39.0)% pts\t\t78\t\t(9.7)%\n", "q10k_tbl_36": "\tYear Ended December 31\t\t\t\n\t2020\t2019\tBetter / (Worse)\t\nSegment Adjusted EBITDA\t(15)\t49\t(64)\t(130.9)%\n", "q10k_tbl_37": "\tYear Ended December 31\t\t\t\t\t\n2020\t\t2019\t\tBetter / (Worse)\t\nRevenues\t34\t\t61\t\t(27)\t(44.5)%\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t4\t\t6\t\t(2)\t(40.8)%\nAdjusted EBITDA\t(130)\t\t(152)\t\t22\t14.9%\n", "q10k_tbl_38": "\tYear Ended December 31\t\t\t\t\t\n2020\t\t2019\t\tChange\t\nNet income (loss) attributable to Hyatt Hotels Corporation\t(703)\t\t766\t\t(1469)\t(191.7)%\nInterest expense\t128\t\t75\t\t53\t70.8%\n(Benefit) provision for income taxes\t(257)\t\t240\t\t(497)\t(207.4)%\nDepreciation and amortization\t310\t\t329\t\t(19)\t(5.7)%\nEBITDA\t(522)\t\t1410\t\t(1932)\t(137.0)%\nContra revenue\t30\t\t22\t\t8\t35.6%\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t(1286)\t\t(2461)\t\t1175\t47.8%\nCosts incurred on behalf of managed and franchised properties\t1375\t\t2520\t\t(1145)\t(45.4)%\nCosts incurred on behalf of managed and franchised properties that we do not intend to recover from hotel owners\t(45)\t\t0\t\t(45)\tNM\nEquity losses from unconsolidated hospitality ventures\t70\t\t10\t\t60\t581.9%\nStock-based compensation expense\t24\t\t35\t\t(11)\t(31.6)%\n(Gains) losses on sales of real estate and other\t36\t\t(723)\t\t759\t105.0%\nAsset impairments\t62\t\t18\t\t44\t232.4%\nOther (income) loss net\t92\t\t(127)\t\t219\t172.8%\nPro rata share of unconsolidated owned and leased hospitality ventures Adjusted EBITDA\t(13)\t\t50\t\t(63)\t(126.7)%\nAdjusted EBITDA\t(177)\t\t754\t\t(931)\t(123.5)%\n", "q10k_tbl_39": "\tYear Ended December 31\t\n\t2020\t2019\nCash provided by (used in):\t\t\nOperating activities\t(611)\t396\nInvesting activities\t(736)\t585\nFinancing activities\t1525\t(541)\nEffect of exchange rate changes on cash\t(4)\t1\nNet increase in cash cash equivalents and restricted cash\t174\t441\n", "q10k_tbl_40": "\tDecember 31 2020\tDecember 31 2019\nConsolidated debt (1)\t3244\t1623\nStockholders' equity\t3211\t3962\nTotal capital\t6455\t5585\nTotal debt to total capital\t50.3%\t29.1%\nConsolidated debt (1)\t3244\t1623\nLess: Cash and cash equivalents and short-term investments\t(1882)\t(961)\nNet consolidated debt\t1362\t662\nNet debt to total capital\t21.1%\t11.9%\n", "q10k_tbl_41": "\tYear Ended December 31\t\n\t2020\t2019\nEnhancements to existing properties\t60\t137\nInvestment in new properties under development or recently opened\t36\t139\nMaintenance and technology\t26\t93\nTotal capital expenditures\t122\t369\n", "q10k_tbl_42": "\tPrincipal amount\n250 million senior unsecured notes maturing in 2021-5.375%\t250\n750 million senior unsecured notes maturing in 2022-three-month LIBOR plus 3.000%\t750\n350 million senior unsecured notes maturing in 2023-3.375%\t350\n450 million senior unsecured notes maturing in 2025-5.375%\t450\n400 million senior unsecured notes maturing in 2026-4.850%\t400\n400 million senior unsecured notes maturing in 2028-4.375%\t400\n450 million senior unsecured notes maturing in 2030-5.750%\t450\nTotal Senior Notes\t3050\n", "q10k_tbl_43": "\t\t\tPayments Due by Period\t\t\t\t\t\t\t\t\t\t\nTotal\t\t2021\t\t2022\t\t2023\t\t2024\t\t2025\t\tThereafter\nDebt (1)\t4069\t\t407\t\t886\t\t468\t\t106\t\t544\t\t1658\nFinance lease obligations (1)\t11\t\t2\t\t2\t\t2\t\t2\t\t2\t\t1\nOperating lease obligations\t604\t\t43\t\t40\t\t39\t\t37\t\t31\t\t414\nPurchase obligations\t8\t\t8\t\t0\t\t0\t\t0\t\t0\t\t0\nOther long-term liabilities (2)\t534\t\t2\t\t1\t\t1\t\t1\t\t1\t\t528\nTotal contractual obligations\t5226\t\t462\t\t929\t\t510\t\t146\t\t578\t\t2601\n", "q10k_tbl_44": "\t\t\tAmount of Guarantee Commitments Expiration by Period\t\t\t\t\t\t\t\t\t\t\nTotal\t\t2021\t\t2022\t\t2023\t\t2024\t\t2025\t\tThereafter\nPerformance guarantees (1)\t44\t\t13\t\t13\t\t9\t\t4\t\t1\t\t4\nDebt repayment and other guarantees (2)\t463\t\t235\t\t63\t\t134\t\t29\t\t2\t\t0\nTotal guarantee commitments\t507\t\t248\t\t76\t\t143\t\t33\t\t3\t\t4\n", "q10k_tbl_45": "\t\t\tAmount of Investment Commitments Expected Funding by Period\t\t\t\t\t\t\t\t\t\t\nTotal\t\t2021\t\t2022\t\t2023\t\t2024\t\t2025\t\tThereafter\nInvestment commitments\t330\t\t121\t\t85\t\t78\t\t19\t\t6\t\t21\n", "q10k_tbl_46": "\tMaturities by Period\t\t\t\t\t\t\t\n\t2021\t2022\t2023\t2024\t2025\tThereafter\tTotal carrying amount (1)\tTotal fair value\nFixed-rate debt\t255\t5\t355\t6\t456\t1397\t2474\t2756\nAverage interest rate (2)\t\t\t\t\t\t\t4.89%\t\nFloating-rate debt (3)\t4\t754\t4\t4\t4\t17\t787\t805\nAverage interest rate (2)\t\t\t\t\t\t\t3.38%\t\n", "q10k_tbl_47": "Plan category\tNumber of securities to be issued upon exercise of outstanding options warrants and rights\t\tWeighted-average exercise price of outstanding options\t\tNumber of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in the first column)\t\nEquity Compensation Plans Approved by Security Holders\t6640609\t(1)\t54.90\t(2)\t9029278\t(3) (4)\nEquity Compensation Plans Not Approved by Security Holders\t0\t\t0\t\t1469195\t(5)\nTotal\t6640609\t\t54.90\t\t10498473\t\n", "q10k_tbl_48": "\tPage\nManagement's Report on Internal Control Over Financial Reporting\tF- 1\nReport of Independent Registered Public Accounting Firm\tF- 2\nReport of Independent Registered Public Accounting Firm\tF- 5\nConsolidated Statements of Income (Loss) for the Years Ended December 31 2020 December 31 2019 and December 31 2018\tF- 6\nConsolidated Statements of Comprehensive Income (Loss) for the Years Ended December 31 2020 December 31 2019 and December 31 2018\tF- 7\nConsolidated Balance Sheets as of December 31 2020 and December 31 2019\tF- 8\nConsolidated Statements of Cash Flows for the Years Ended December 31 2020 December 31 2019 and December 31 2018\tF- 9\nConsolidated Statements of Changes in Stockholders' Equity for the Years Ended December 31 2020 December 31 2019 and December 31 2018\tF- 12\nNotes to Consolidated Financial Statements\tF- 13\n", "q10k_tbl_49": "Signature\tTitles\tDate\n/s/ Mark S. Hoplamazian\tPresident Chief Executive Officer and Director (Principal Executive Officer)\tFebruary 18 2021\nMark S. Hoplamazian\n/s/ Joan Bottarini\tExecutive Vice President Chief Financial Officer (Principal Financial Officer)\tFebruary 18 2021\nJoan Bottarini\n/s/ Elizabeth M. Bauer\tSenior Vice President Corporate Controller (Principal Accounting Officer)\tFebruary 18 2021\nElizabeth M. Bauer\n/s/ Thomas J. Pritzker\tExecutive Chairman of the Board\tFebruary 18 2021\nThomas J. Pritzker\t\n/s/ Paul D. Ballew\tDirector\tFebruary 18 2021\nPaul D. Ballew\t\n/s/ Susan D. Kronick\tDirector\tFebruary 18 2021\nSusan D. Kronick\t\n/s/ Mackey J. McDonald\tDirector\tFebruary 18 2021\nMackey J. McDonald\t\n/s/ Cary D. McMillan\tDirector\tFebruary 18 2021\nCary D. McMillan\t\n/s/ Pamela M. Nicholson\tDirector\tFebruary 18 2021\nPamela M. Nicholson\t\n/s/ Jason Pritzker\tDirector\tFebruary 18 2021\nJason Pritzker\t\n/s/ Michael A. Rocca\tDirector\tFebruary 18 2021\nMichael A. Rocca\t\n/s/ Richard C. Tuttle\tDirector\tFebruary 18 2021\nRichard C. Tuttle\t\n/s/ James H. Wooten Jr.\tDirector\tFebruary 18 2021\nJames H. Wooten Jr.\t\n", "q10k_tbl_50": "\t2020\t2019\t2018\nREVENUES:\t\t\t\nOwned and leased hotels\t513\t1848\t1918\nManagement franchise and other fees\t239\t608\t552\nContra revenue\t(30)\t(22)\t(20)\nNet management franchise and other fees\t209\t586\t532\nOther revenues\t58\t125\t48\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t1286\t2461\t1956\nTotal revenues\t2066\t5020\t4454\nDIRECT AND SELLING GENERAL AND ADMINISTRATIVE EXPENSES:\t\t\t\nOwned and leased hotels\t627\t1424\t1446\nDepreciation and amortization\t310\t329\t327\nOther direct costs\t65\t133\t48\nSelling general and administrative\t321\t417\t320\nCosts incurred on behalf of managed and franchised properties\t1375\t2520\t1981\nDirect and selling general and administrative expenses\t2698\t4823\t4122\nNet gains (losses) and interest income from marketable securities held to fund rabbi trusts\t60\t62\t(11)\nEquity earnings (losses) from unconsolidated hospitality ventures\t(70)\t(10)\t8\nInterest expense\t(128)\t(75)\t(76)\nGains (losses) on sales of real estate and other\t(36)\t723\t772\nAsset impairments\t(62)\t(18)\t(25)\nOther income (loss) net\t(92)\t127\t(49)\nINCOME (LOSS) BEFORE INCOME TAXES\t(960)\t1006\t951\nBENEFIT (PROVISION) FOR INCOME TAXES\t257\t(240)\t(182)\nNET INCOME (LOSS)\t(703)\t766\t769\nNET INCOME (LOSS) AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS\t0\t0\t0\nNET INCOME (LOSS) ATTRIBUTABLE TO HYATT HOTELS CORPORATION\t(703)\t766\t769\nEARNINGS (LOSSES) PER SHARE-Basic\t\t\t\nNet income (loss)\t(6.93)\t7.33\t6.79\nNet income (loss) attributable to Hyatt Hotels Corporation\t(6.93)\t7.33\t6.79\nEARNINGS (LOSSES) PER SHARE-Diluted\t\t\t\nNet income (loss)\t(6.93)\t7.21\t6.68\nNet income (loss) attributable to Hyatt Hotels Corporation\t(6.93)\t7.21\t6.68\n", "q10k_tbl_51": "\t2020\t2019\t2018\nNet income (loss)\t(703)\t766\t769\nOther comprehensive income (loss) net of taxes:\t\t\t\nForeign currency translation adjustments net of tax (benefit) expense of $2 $- and $(1) for the years ended December 31 2020 December 31 2019 and December 31 2018 respectively\t38\t8\t52\nUnrecognized pension (cost) benefit net of tax (benefit) expense of $- $(1) and $1 for the years ended December 31 2020 December 31 2019 and December 31 2018 respectively\t2\t(4)\t2\nUnrealized gains on available-for-sale debt securities net of tax expense of $- for the years ended December 31 2020 December 31 2019 and December 31 2018.\t0\t1\t0\nUnrealized losses on derivative activity net of tax benefit of $(8) $(5) and $- for the years ended December 31 2020 December 31 2019 and December 31 2018 respectively\t(23)\t(14)\t(1)\nOther comprehensive income (loss)\t17\t(9)\t53\nCOMPREHENSIVE INCOME (LOSS)\t(686)\t757\t822\nCOMPREHENSIVE INCOME (LOSS) AND ACCRETION ATTRIBUTABLE TO NONCONTROLLING INTERESTS\t0\t0\t0\nCOMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HYATT HOTELS CORPORATION\t(686)\t757\t822\n", "q10k_tbl_52": "\t2020\t2019\nASSETS\t\t\nCURRENT ASSETS:\t\t\nCash and cash equivalents\t1207\t893\nRestricted cash\t11\t150\nShort-term investments\t675\t68\nReceivables net of allowances of $56 and $32 at December 31 2020 and December 31 2019 respectively\t316\t421\nInventories\t9\t12\nPrepaids and other assets\t64\t134\nPrepaid income taxes\t281\t28\nTotal current assets\t2563\t1706\nEquity method investments\t260\t232\nProperty and equipment net\t3126\t3456\nFinancing receivables net of allowances of $114 and $100 at December 31 2020 and December 31 2019 respectively\t29\t35\nOperating lease right-of-use assets\t474\t493\nGoodwill\t288\t326\nIntangibles net\t385\t437\nDeferred tax assets\t207\t144\nOther assets\t1797\t1588\nTOTAL ASSETS\t9129\t8417\nLIABILITIES AND EQUITY\t\t\nCURRENT LIABILITIES:\t\t\nCurrent maturities of long-term debt\t260\t11\nAccounts payable\t102\t150\nAccrued expenses and other current liabilities\t200\t304\nCurrent contract liabilities\t282\t445\nAccrued compensation and benefits\t111\t144\nCurrent operating lease liabilities\t29\t32\nTotal current liabilities\t984\t1086\nLong-term debt\t2984\t1612\nLong-term contract liabilities\t659\t475\nLong-term operating lease liabilities\t377\t393\nOther long-term liabilities\t911\t884\nTotal liabilities\t5915\t4450\nCommitments and contingencies (see Note 15)\t\t\nEQUITY:\t\t\nPreferred stock $0.01 par value per share 10000000 shares authorized and none outstanding as of December 31 2020 and December 31 2019\t0\t0\nClass A common stock $0.01 par value per share 1000000000 shares authorized 39250241 issued and outstanding at December 31 2020 and Class B common stock $0.01 par value per share 394033330 shares authorized 62038918 shares issued and outstanding at December 31 2020. Class A common stock $0.01 par value per share 1000000000 shares authorized 36109179 issued and outstanding at December 31 2019 and Class B common stock $0.01 par value per share 397457686 shares authorized 65463274 shares issued and outstanding at December 31 2019\t1\t1\nAdditional paid-in capital\t13\t0\nRetained earnings\t3389\t4170\nAccumulated other comprehensive loss\t(192)\t(209)\nTotal stockholders' equity\t3211\t3962\nNoncontrolling interests in consolidated subsidiaries\t3\t5\nTotal equity\t3214\t3967\nTOTAL LIABILITIES AND EQUITY\t9129\t8417\n", "q10k_tbl_53": "\t2020\t2019\t2018\nCASH FLOWS FROM OPERATING ACTIVITIES:\t\t\t\nNet income (loss)\t(703)\t766\t769\nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:\t\t\t\n(Gains) losses on sales of real estate and other\t36\t(723)\t(772)\nDepreciation and amortization\t310\t329\t327\nRelease of contingent consideration liability\t(1)\t(30)\t0\nAmortization of share awards\t28\t35\t28\nAmortization of operating lease right-of-use assets\t31\t35\t0\nDeferred income taxes\t(59)\t28\t(33)\nAsset impairments\t62\t18\t47\nEquity (earnings) losses from unconsolidated hospitality ventures\t70\t10\t(8)\nContra revenue\t30\t22\t20\nGain on sale of contractual right\t0\t(16)\t0\nUnrealized (gains) losses net\t13\t(26)\t47\nDistributions from unconsolidated hospitality ventures\t3\t13\t17\nOther\t(27)\t(57)\t(22)\nIncrease (decrease) in cash attributable to changes in assets and liabilities and other\t\t\t\nReceivables net\t133\t(29)\t14\nPrepaid income taxes\t(241)\t10\t(5)\nAccounts payable accrued expenses and other current liabilities\t(249)\t(23)\t(130)\nContract liabilities\t73\t131\t94\nOperating lease liabilities\t(23)\t(34)\t0\nAccrued compensation and benefits\t(47)\t(1)\t6\nOther long-term liabilities\t(27)\t(9)\t7\nOther net\t(23)\t(53)\t(65)\nNet cash provided by (used in) operating activities\t(611)\t396\t341\n", "q10k_tbl_54": "\t2020\t2019\t2018\nCASH FLOWS FROM INVESTING ACTIVITIES:\t\t\t\nPurchases of marketable securities and short-term investments\t(1143)\t(350)\t(665)\nProceeds from marketable securities and short-term investments\t542\t349\t624\nContributions to equity method and other investments\t(65)\t(48)\t(60)\nReturn of equity method and other investments\t5\t28\t51\nAcquisitions net of cash acquired\t0\t(18)\t(678)\nCapital expenditures\t(122)\t(369)\t(297)\nIssuance of financing receivables\t(32)\t(18)\t(2)\nProceeds from financing receivables\t0\t46\t0\nProceeds from sales of real estate and other net of cash disposed\t85\t940\t1382\nProceeds from sale of contractual right\t0\t21\t0\nOther investing activities\t(6)\t4\t19\nNet cash provided by (used in) investing activities\t(736)\t585\t374\nCASH FLOWS FROM FINANCING ACTIVITIES:\t\t\t\nProceeds from long-term debt net of issuance costs of $15 $- and $4 respectively\t2035\t400\t416\nRepayments of debt\t(406)\t(409)\t(231)\nRepurchase of common stock\t(69)\t(421)\t(946)\nContingent consideration paid\t0\t(24)\t0\nDividends paid\t(20)\t(80)\t(68)\nOther financing activities\t(15)\t(7)\t(21)\nNet cash provided by (used in) financing activities\t1525\t(541)\t(850)\nEFFECT OF EXCHANGE RATE CHANGES ON CASH\t(4)\t1\t5\nNET INCREASE (DECREASE) IN CASH CASH EQUIVALENTS AND RESTRICTED CASH\t174\t441\t(130)\nCASH CASH EQUIVALENTS AND RESTRICTED CASH-BEGINNING OF YEAR\t1063\t622\t752\nCASH CASH EQUIVALENTS AND RESTRICTED CASH-END OF PERIOD\t1237\t1063\t622\n", "q10k_tbl_55": "\t2020\t2019\t2018\nCash and cash equivalents\t1207\t893\t570\nRestricted cash (see Note 2)\t11\t150\t33\nRestricted cash included in other assets (see Note 2)\t19\t20\t19\nTotal cash cash equivalents and restricted cash\t1237\t1063\t622\n", "q10k_tbl_56": "\t2020\t2019\t2018\nCash paid during the period for interest\t105\t79\t73\nCash paid during the period for income taxes\t63\t175\t292\nCash paid for amounts included in the measurement of operating lease liabilities\t42\t50\t0\nNon-cash investing and financing activities are as follows:\t\t\t\nNon-cash contributions to equity method investments (see Note 4 Note 15)\t35\t9\t61\nNon-cash issuance of financing receivables (see Note 6 Note 7)\t0\t1\t45\nChange in accrued capital expenditures\t(12)\t(7)\t13\nNon-cash right-of-use assets obtained in exchange for operating lease liabilities\t14\t8\t0\nContingent liability (see Note 7)\t0\t0\t57\n", "q10k_tbl_57": "\tCommon Shares Outstanding\t\tCommon Stock Amount\t\tAdditional Paid-in Capital\tRetained Earnings\tAccumulated Other Comprehensive Loss\tNoncontrolling Interests in Consolidated Subsidiaries\tTotal\n\tClass A\tClass B\tClass A\tClass B\t\t\t\t\t\nBALANCE-December 31 2017\t48231149\t70753837\t1\t0\t967\t3054\t(185)\t6\t3843\nCumulative effect of accounting changes (1)\t0\t0\t0\t0\t0\t64\t(68)\t0\t(4)\nBALANCE-January 1 2018\t48231149\t70753837\t1\t0\t967\t3118\t(253)\t6\t3839\nTotal comprehensive income\t0\t0\t0\t0\t0\t769\t53\t0\t822\nNoncontrolling interests\t0\t0\t0\t0\t0\t0\t0\t1\t1\nRepurchase of common stock\t(10293241)\t(2430654)\t0\t0\t(946)\t0\t0\t0\t(946)\nDirectors compensation\t0\t0\t0\t0\t2\t0\t0\t0\t2\nEmployee stock plan issuance\t61900\t0\t0\t0\t5\t0\t0\t0\t5\nShare-based payment activity\t300654\t0\t0\t0\t22\t0\t0\t0\t22\nClass share conversions\t1207355\t(1207355)\t0\t0\t0\t0\t0\t0\t0\nCash dividends of $0.15 share (see Note 16)\t0\t0\t0\t0\t0\t(68)\t0\t0\t(68)\nBALANCE-December 31 2018\t39507817\t67115828\t1\t0\t50\t3819\t(200)\t7\t3677\nTotal comprehensive income (loss)\t0\t0\t0\t0\t0\t766\t(9)\t0\t757\nNoncontrolling interests\t0\t0\t0\t0\t0\t0\t0\t(2)\t(2)\nRepurchase of common stock\t(4943897)\t(677384)\t0\t0\t(86)\t(335)\t0\t0\t(421)\nDirectors compensation\t0\t0\t0\t0\t2\t0\t0\t0\t2\nEmployee stock plan issuance\t79700\t0\t0\t0\t5\t0\t0\t0\t5\nShare-based payment activity\t490389\t0\t0\t0\t29\t0\t0\t0\t29\nClass share conversions\t975170\t(975170)\t0\t0\t0\t0\t0\t0\t0\nCash dividends of $0.19 per share (see Note 16)\t0\t0\t0\t0\t0\t(80)\t0\t0\t(80)\nBALANCE-December 31 2019\t36109179\t65463274\t1\t0\t0\t4170\t(209)\t5\t3967\nCumulative effect of accounting changes net of tax (2)\t0\t0\t0\t0\t0\t(1)\t0\t0\t(1)\nBALANCE-January 1 2020\t36109179\t65463274\t1\t0\t0\t4169\t(209)\t5\t3966\nTotal comprehensive income (loss)\t0\t0\t0\t0\t0\t(703)\t17\t0\t(686)\nNoncontrolling interests\t0\t0\t0\t0\t0\t0\t0\t(2)\t(2)\nRepurchase of common stock\t(827643)\t0\t0\t0\t(12)\t(57)\t0\t0\t(69)\nDirectors compensation\t0\t0\t0\t0\t1\t0\t0\t0\t1\nEmployee stock plan issuance\t75763\t0\t0\t0\t4\t0\t0\t0\t4\nShare-based payment activity\t468586\t0\t0\t0\t20\t0\t0\t0\t20\nClass share conversions\t3424356\t(3424356)\t0\t0\t0\t0\t0\t0\t0\nCash dividends of $0.20 per share (see Note 16)\t0\t0\t0\t0\t0\t(20)\t0\t0\t(20)\nBALANCE-December 31 2020\t39250241\t62038918\t1\t0\t13\t3389\t(192)\t3\t3214\n(1) Cumulative adjustment due to adoption of Accounting Standards Update No. 2016-01 (\"ASU 2016-01\") Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities and Accounting Standards Update No. 2016-16 (\"ASU 2016-16\") Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. Upon the adoption of ASU 2016-01 the unrealized gains and losses on our equity securities previously classified as available-for-sale are recognized in other income (loss) net.\t\t\t\t\t\t\t\t\t\n(2) Cumulative adjustment due to adoption of Accounting Standards Update No. 2016-13 (\"ASU 2016-13\") Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (see Note 2).\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_58": "\tYear Ended December 31 2020\t\t\t\t\t\t\n\tOwned and leased hotels\tAmericas management and franchising\tASPAC management and franchising\tEAME/SW Asia management and franchising\tCorporate and other\tEliminations\tTotal\nRooms revenues\t283\t0\t0\t0\t0\t(12)\t271\nFood and beverage\t148\t0\t0\t0\t0\t0\t148\nOther\t94\t0\t0\t0\t0\t0\t94\nOwned and leased hotels\t525\t0\t0\t0\t0\t(12)\t513\nBase management fees\t0\t72\t26\t13\t0\t(15)\t96\nIncentive management fees\t0\t4\t14\t5\t0\t(1)\t22\nFranchise fees\t0\t61\t1\t1\t0\t0\t63\nOther fees\t0\t4\t11\t4\t4\t0\t23\nLicense fees\t0\t11\t9\t0\t15\t0\t35\nManagement franchise and other fees\t0\t152\t61\t23\t19\t(16)\t239\nContra revenue\t0\t(18)\t(2)\t(10)\t0\t0\t(30)\nNet management franchise and other fees\t0\t134\t59\t13\t19\t(16)\t209\nOther revenues\t0\t42\t0\t0\t15\t1\t58\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t0\t1152\t75\t55\t4\t0\t1286\nTotal\t525\t1328\t134\t68\t38\t(27)\t2066\n", "q10k_tbl_59": "\tYear Ended December 31 2019\t\t\t\t\t\t\n\tOwned and leased hotels (a)\tAmericas management and franchising (a)\tASPAC management and franchising\tEAME/SW Asia management and franchising\tCorporate and other (a)\tEliminations (a)\tTotal\nRooms revenues\t1083\t0\t0\t0\t0\t(35)\t1048\nFood and beverage\t619\t0\t0\t0\t0\t0\t619\nOther\t181\t0\t0\t0\t0\t0\t181\nOwned and leased hotels\t1883\t0\t0\t0\t0\t(35)\t1848\nBase management fees\t0\t229\t46\t37\t0\t(52)\t260\nIncentive management fees\t0\t65\t72\t38\t0\t(24)\t151\nFranchise fees\t0\t136\t4\t1\t0\t0\t141\nOther fees\t0\t5\t14\t7\t6\t0\t32\nLicense fees\t0\t4\t0\t0\t20\t0\t24\nManagement franchise and other fees\t0\t439\t136\t83\t26\t(76)\t608\nContra revenue\t0\t(15)\t(2)\t(5)\t0\t0\t(22)\nNet management franchise and other fees\t0\t424\t134\t78\t26\t(76)\t586\nOther revenues\t0\t89\t0\t0\t35\t1\t125\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t0\t2268\t113\t74\t6\t0\t2461\nTotal\t1883\t2781\t247\t152\t67\t(110)\t5020\n(a) Amounts presented have been adjusted for changes within the segments effective on January 1 2020 (see Note 19).\t\t\t\t\t\t\t\n", "q10k_tbl_60": "\tYear Ended December 31 2018\t\t\t\t\t\t\n\tOwned and leased hotels (a)\tAmericas management and franchising (a)\tASPAC management and franchising\tEAME/SW Asia management and franchising\tCorporate and other (a)\tEliminations (a)\tTotal\nRooms revenues\t1133\t0\t0\t0\t0\t(33)\t1100\nFood and beverage\t646\t0\t0\t0\t0\t0\t646\nOther\t172\t0\t0\t0\t0\t0\t172\nOwned and leased hotels\t1951\t0\t0\t0\t0\t(33)\t1918\nBase management fees\t0\t202\t44\t34\t0\t(55)\t225\nIncentive management fees\t0\t67\t71\t39\t0\t(29)\t148\nFranchise fees\t0\t123\t3\t1\t0\t0\t127\nOther fees\t0\t10\t9\t6\t6\t0\t31\nLicense fees\t0\t3\t0\t0\t18\t0\t21\nManagement franchise and other fees\t0\t405\t127\t80\t24\t(84)\t552\nContra revenue\t0\t(13)\t(2)\t(5)\t0\t0\t(20)\nNet management franchise and other fees\t0\t392\t125\t75\t24\t(84)\t532\nOther revenues\t0\t0\t0\t0\t43\t5\t48\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t0\t1787\t95\t68\t6\t0\t1956\nTotal\t1951\t2179\t220\t143\t73\t(112)\t4454\n(a) Amounts presented have been adjusted for changes within the segments effective on January 1 2020 (see Note 19).\t\t\t\t\t\t\t\n", "q10k_tbl_61": "\tDecember 31 2020\tDecember 31 2019\nDeferred revenue related to the loyalty program\t733\t671\nDeferred revenue related to insurance programs\t47\t46\nAdvanced deposits\t44\t77\nInitial fees received from franchise owners\t41\t41\nOther deferred revenue\t76\t85\nTotal contract liabilities\t941\t920\n", "q10k_tbl_62": "\t2020\t2019\nBeginning balance January 1\t920\t830\nCash received and other\t564\t1025\nRevenue recognized\t(543)\t(935)\nEnding balance December 31\t941\t920\n", "q10k_tbl_63": "Investee\tExisting or future hotel property\tOwnership interest\tCarrying value\t\nDecember 31 2020\t\tDecember 31 2019\nHyatt of Baja S. de. R.L. de C.V.\tPark Hyatt Los Cabos\t50.0%\t50\t48\nHP Boston Partners LLC\tHyatt Place Boston / Seaport District\t50.0%\t28\t29\nHotel am Belvedere Holding GmbH & Co KG\tAndaz Vienna Am Belvedere\t50.0%\t24\t22\nH.E. Philadelphia HC Hotel L.L.C.\tHyatt Centric Center City Philadelphia\t42.3%\t19\t0\nSan Jose Hotel Partners L.L.C.\tHyatt Place San Jose Airport Hyatt House San Jose Airport\t40.0%\t18\t20\n33 Beale Street Hotel Company LLC\tHyatt Centric Beale Street Memphis\t50.0%\t15\t11\nCBR HCN LLC\tHyatt Centric Downtown Nashville\t40.0%\t15\t12\nHC Lenox JV LLC\tHyatt Centric Atlanta / Buckhead\t50.0%\t15\t1\nDesarrolladora Hotelera Acueducto S. de R.L. de C.V.\tHyatt Regency Andares Guadalajara\t50.0%\t13\t14\nPortland Hotel Properties L.L.C.\tHyatt Centric Downtown Portland\t40.0%\t9\t13\nHH Nashville JV Holdings L.L.C.\tHyatt House Nashville at Vanderbilt\t50.0%\t9\t11\nOther\tVarious\t\t45\t51\nTotal equity method investments\t\t\t260\t232\n", "q10k_tbl_64": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nTotal revenues\t243\t\t496\t\t513\nGross operating profit\t30\t\t179\t\t182\nLoss from continuing operations\t(206)\t\t(24)\t\t(16)\nNet loss\t(206)\t\t(24)\t\t(16)\n", "q10k_tbl_65": "\tDecember 31 2020\tDecember 31 2019\nCurrent assets\t168\t231\nNoncurrent assets\t1754\t1417\nTotal assets\t1922\t1648\nCurrent liabilities\t177\t143\nNoncurrent liabilities\t1527\t1270\nTotal liabilities\t1704\t1413\n", "q10k_tbl_66": "\tDecember 31 2020\tDecember 31 2019\nLoyalty program (Note 10)\t567\t483\nDeferred compensation plans held in rabbi trusts (Note 10 and Note 13)\t511\t450\nCaptive insurance company (Note 10)\t226\t180\nTotal marketable securities held to fund operating programs\t1304\t1113\nLess: current portion of marketable securities held to fund operating programs included in cash and cash equivalents short-term investments and prepaids and other assets\t(238)\t(219)\nMarketable securities held to fund operating programs included in other assets\t1066\t894\n", "q10k_tbl_67": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nLoyalty program (Note 21)\t29\t\t26\t\t4\n", "q10k_tbl_68": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018\nUnrealized gains (losses)\t24\t42\t(45)\nRealized gains\t36\t20\t34\nNet gains (losses) and interest income from marketable securities held to fund rabbi trusts\t60\t62\t(11)\n", "q10k_tbl_69": "\tDecember 31 2020\tDecember 31 2019\nTime deposits (a)\t657\t37\nInterest-bearing money market funds (a)\t107\t147\nCommon shares of Playa N.V. (Note 10)\t72\t102\nTotal marketable securities held for investment purposes\t836\t286\nLess: current portion of marketable securities held for investment purposes included in cash and cash equivalents and short-term investments\t(764)\t(184)\nMarketable securities held for investment purposes included in other assets\t72\t102\n(a) A portion of proceeds from our Senior Notes issuances during the year ended December 31 2020 were reinvested in interest-bearing money market funds and time deposits at December 31 2020 (see Note 11).\t\t\n", "q10k_tbl_70": "\tDecember 31 2020\tCash and cash equivalents\tShort-term investments\tPrepaids and other assets\tOther assets\nLevel One - Quoted Prices in Active Markets for Identical Assets\t\t\t\t\t\nInterest-bearing money market funds\t327\t327\t0\t0\t0\nMutual funds\t581\t0\t0\t0\t581\nCommon shares\t72\t0\t0\t0\t72\nLevel Two - Significant Other Observable Inputs\t\t\t\t\t\nTime deposits\t662\t0\t659\t0\t3\nU.S. government obligations\t208\t0\t3\t0\t205\nU.S. government agencies\t65\t0\t0\t0\t65\nCorporate debt securities\t159\t0\t13\t0\t146\nMortgage-backed securities\t24\t0\t0\t0\t24\nAsset-backed securities\t35\t0\t0\t0\t35\nMunicipal and provincial notes and bonds\t7\t0\t0\t0\t7\nTotal\t2140\t327\t675\t0\t1138\n", "q10k_tbl_71": "\tDecember 31 2019\tCash and cash equivalents\tShort-term investments\tPrepaids and other assets\tOther assets\nLevel One - Quoted Prices in Active Markets for Identical Assets\t\t\t\t\t\nInterest-bearing money market funds\t269\t269\t0\t0\t0\nMutual funds\t502\t0\t0\t0\t502\nCommon shares\t102\t0\t0\t0\t102\nLevel Two - Significant Other Observable Inputs\t\t\t\t\t\nTime deposits\t47\t0\t41\t0\t6\nU.S. government obligations\t202\t0\t4\t31\t167\nU.S. government agencies\t50\t0\t3\t6\t41\nCorporate debt securities\t161\t0\t20\t18\t123\nMortgage-backed securities\t23\t0\t0\t4\t19\nAsset-backed securities\t39\t0\t0\t6\t33\nMunicipal and provincial notes and bonds\t4\t0\t0\t1\t3\nTotal\t1399\t269\t68\t66\t996\n", "q10k_tbl_72": "\tDecember 31 2020\tDecember 31 2019\nLand\t658\t690\nBuildings\t3381\t3285\nLeasehold improvements\t187\t194\nFurniture equipment and computers\t1216\t1183\nConstruction in progress\t32\t253\nProperty and equipment\t5474\t5605\nLess: accumulated depreciation\t(2348)\t(2149)\nTotal property and equipment net\t3126\t3456\n", "q10k_tbl_73": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nDepreciation expense\t283\t\t304\t\t312\n", "q10k_tbl_74": "\t2020\t2019\nAllowance at January 1\t32\t26\nAdoption of ASU 2016-13 (Note 2)\t2\t0\nProvisions\t35\t14\nWrite-offs and recoveries\t(13)\t(8)\nAllowance at December 31\t56\t32\n", "q10k_tbl_75": "\tDecember 31 2020\tDecember 31 2019\nUnsecured financing to hotel owners\t145\t135\nLess: current portion of financing receivables included in receivables net\t(2)\t0\nLess: allowance for credit losses\t(114)\t(100)\nTotal long-term financing receivables net of allowances\t29\t35\n", "q10k_tbl_76": "\t2020\t2019\nAllowance at January 1\t100\t101\nProvisions\t29\t6\nWrite-offs\t(17)\t(6)\nOther adjustments\t2\t(1)\nAllowance at December 31\t114\t100\n", "q10k_tbl_77": "\tDecember 31 2020\t\t\t\n\tGross loan balance (principal and interest)\tRelated allowance\tNet financing receivables\tGross receivables on nonaccrual status\nLoans\t30\t(1)\t29\t0\nImpaired loans (1)\t53\t(53)\t0\t53\nTotal loans\t83\t(54)\t29\t53\nOther financing arrangements\t62\t(60)\t2\t58\nTotal unsecured financing receivables\t145\t(114)\t31\t111\n", "q10k_tbl_78": "\tDecember 31 2019\t\t\t\n\tGross loan balance (principal and interest)\tRelated allowance\tNet financing receivables\tGross receivables on nonaccrual status\nLoans\t33\t(1)\t32\t0\nImpaired loans (2)\t43\t(43)\t0\t43\nTotal loans\t76\t(44)\t32\t43\nOther financing arrangements\t59\t(56)\t3\t56\nTotal unsecured financing receivables\t135\t(100)\t35\t99\n", "q10k_tbl_79": "Cash paid net of cash acquired\t415\nCash acquired\t37\nContingent consideration liability\t57\nNet assets acquired at December 31 2018\t509\nPost-acquisition working capital adjustments\t(2)\nNet assets acquired at December 31 2019\t507\n", "q10k_tbl_80": "Cash\t32\nReceivables\t20\nOther current assets\t2\nEquity method investment\t2\nProperty and equipment\t2\nIndefinite-lived intangibles (1) (5)\t96\nManagement agreement intangibles (2) (5)\t205\nGoodwill (3)\t199\nOther assets (4)\t25\nTotal assets\t583\nAdvanced deposits (6)\t20\nOther current liabilities\t23\nOther long-term liabilities (4)\t33\nTotal liabilities\t76\nTotal net assets acquired\t507\n", "q10k_tbl_81": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nMinimum rentals\t45\t\t50\t\t38\nContingent rentals\t38\t\t97\t\t47\nTotal operating lease expense\t83\t\t147\t\t85\n", "q10k_tbl_82": "\tDecember 31 2020\tDecember 31 2019\nProperty and equipment net (1)\t8\t9\nCurrent maturities of long-term debt\t2\t2\nLong-term debt\t7\t9\nTotal finance lease liabilities\t9\t11\n", "q10k_tbl_83": "\tDecember 31 2020\tDecember 31 2019\nWeighted-average remaining lease term in years\t\t\nOperating leases (1)\t22\t21\nFinance leases\t6\t7\nWeighted-average discount rate\t\t\nOperating leases\t3.9%\t3.7%\nFinance leases\t0.6%\t0.9%\n(1) Certain of our hotel and land leases have nominal or contingent rental payments and are excluded from the weighted-average remaining lease term calculation resulting in a lower weighted-average term.\t\t\n", "q10k_tbl_84": "Year ending December 31\tOperating leases\tFinance leases\n2021\t43\t2\n2022\t40\t2\n2023\t39\t2\n2024\t37\t2\n2025\t31\t2\nThereafter\t414\t1\nTotal minimum lease payments\t604\t11\nLess: amount representing interest\t(198)\t(2)\nPresent value of minimum lease payments\t406\t9\n", "q10k_tbl_85": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\t\nRental income\t16\t\t23\t\t25\n", "q10k_tbl_86": "Year Ending December 31\t\n2021\t14\n2022\t11\n2023\t9\n2024\t4\n2025\t3\nThereafter\t6\nTotal minimum lease receipts\t47\n", "q10k_tbl_87": "\tOwned and leased hotels (1)\tAmericas management and franchising\tASPAC management and franchising\tEAME/SW Asia management and franchising\tCorporate and other (1)\tTotal\nBalance at January 1 2019\t\t\t\t\t\t\nGoodwill\t210\t168\t18\t3\t4\t403\nAccumulated impairment losses\t(116)\t0\t0\t0\t(4)\t(120)\nGoodwill net\t94\t168\t18\t3\t0\t283\nActivity during the year\t\t\t\t\t\t\nMeasurement period adjustments (Note 7)\t0\t64\t(18)\t(3)\t0\t43\nBalance at December 31 2019\t\t\t\t\t\t\nGoodwill\t210\t232\t0\t0\t4\t446\nAccumulated impairment losses\t(116)\t0\t0\t0\t(4)\t(120)\nGoodwill net\t94\t232\t0\t0\t0\t326\nActivity during the year\t\t\t\t\t\t\nImpairment losses\t(38)\t0\t0\t0\t0\t(38)\nBalance at December 31 2020\t\t\t\t\t\t\nGoodwill\t210\t232\t0\t0\t4\t446\nAccumulated impairment losses\t(154)\t0\t0\t0\t(4)\t(158)\nGoodwill net\t56\t232\t0\t0\t0\t288\n(1) Amounts presented have been adjusted for changes within the segments effective on January 1 2020 (see Note 19).\t\t\t\t\t\t\n", "q10k_tbl_88": "\tDecember 31 2020\tWeighted-average useful lives in years\tDecember 31 2019\nManagement and franchise agreement intangibles\t354\t18\t367\nBrand and other indefinite-lived intangibles\t130\t0\t144\nAdvanced booking intangibles\t6\t3\t14\nOther definite-lived intangibles\t8\t6\t8\nIntangibles\t498\t\t533\nLess: accumulated amortization\t(113)\t\t(96)\nIntangibles net\t385\t\t437\n", "q10k_tbl_89": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018\nAmortization expense\t27\t25\t15\n", "q10k_tbl_90": "Year Ending December 31\t\n2021\t26\n2022\t24\n2023\t23\n2024\t22\n2025\t21\nThereafter\t139\nTotal amortization expense\t255\n", "q10k_tbl_91": "\tDecember 31 2020\tDecember 31 2019\nMarketable securities held to fund rabbi trusts (Note 4)\t511\t450\nManagement and franchise agreement assets constituting payments to customers (1)\t470\t423\nMarketable securities held to fund the loyalty program (Note 4)\t441\t347\nMarketable securities held for captive insurance company (Note 4)\t114\t97\nLong-term investments (Note 4)\t93\t65\nCommon shares of Playa N.V. (Note 4)\t72\t102\nOther\t96\t104\nTotal other assets\t1797\t1588\n(1) Includes cash consideration as well as other forms of consideration provided such as debt repayment or performance guarantees.\t\t\n", "q10k_tbl_92": "\tDecember 31 2020\tDecember 31 2019\n250 million senior unsecured notes maturing in 2021-5.375%\t250\t250\n750 million senior unsecured notes maturing in 2022-three-month LIBOR plus 3.000%\t750\t0\n350 million senior unsecured notes maturing in 2023-3.375%\t350\t350\n450 million senior unsecured notes maturing in 2025-5.375%\t450\t0\n400 million senior unsecured notes maturing in 2026-4.850%\t400\t400\n400 million senior unsecured notes maturing in 2028-4.375%\t400\t400\n450 million senior unsecured notes maturing in 2030-5.750%\t450\t0\nTax-Exempt Contract Revenue Empowerment Zone Bonds Series 2005A\t130\t130\nContract Revenue Bonds Senior Taxable Series 2005B\t43\t47\nFloating average rate construction loan\t37\t49\nOther\t1\t1\nTotal debt before finance lease obligations\t3261\t1627\nFinance lease obligations\t9\t11\nTotal debt\t3270\t1638\nLess: current maturities\t(260)\t(11)\nLess: unamortized discounts and deferred financing fees\t(26)\t(15)\nTotal long-term debt\t2984\t1612\n", "q10k_tbl_93": "Year Ending December 31\t\n2021\t260\n2022\t760\n2023\t361\n2024\t11\n2025\t461\nThereafter\t1417\nTotal maturities of debt\t3270\n", "q10k_tbl_94": "\tDecember 31 2020\t\t\t\t\n\tCarrying value\tFair value\tQuoted prices in active markets for identical assets (Level One)\tSignificant other observable inputs (Level Two)\tSignificant unobservable inputs (Level Three)\nDebt (1)\t3261\t3561\t0\t3518\t43\n", "q10k_tbl_95": "\tDecember 31 2019\t\t\t\t\n\tCarrying value\tFair value\tQuoted prices in active markets for identical assets (Level One)\tSignificant other observable inputs (Level Two)\tSignificant unobservable inputs (Level Three)\nDebt (2)\t1627\t1740\t0\t1680\t60\n", "q10k_tbl_96": "\tDecember 31 2020\tDecember 31 2019\nDeferred compensation plans funded by rabbi trusts (Note 4)\t511\t450\nIncome taxes payable\t166\t147\nSelf-insurance liabilities (Note 15)\t67\t80\nDeferred income taxes (Note 14)\t48\t47\nGuarantee liabilities (Note 15)\t31\t46\nOther\t88\t114\nTotal other long-term liabilities\t911\t884\n", "q10k_tbl_97": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nU.S. income (loss) before tax\t(694)\t\t466\t\t652\nForeign income (loss) before tax\t(266)\t\t540\t\t299\nIncome (loss) before income taxes\t(960)\t\t1006\t\t951\n", "q10k_tbl_98": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nCurrent:\t\t\t\t\t\nFederal\t(209)\t\t74\t\t140\nState\t8\t\t35\t\t50\nForeign\t3\t\t103\t\t25\nTotal Current\t(198)\t\t212\t\t215\nDeferred:\t\t\t\t\t\nFederal\t(11)\t\t29\t\t(35)\nState\t(47)\t\t2\t\t(12)\nForeign\t(1)\t\t(3)\t\t14\nTotal Deferred\t(59)\t\t28\t\t(33)\nTotal\t(257)\t\t240\t\t182\n", "q10k_tbl_99": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nStatutory U.S. federal income tax rate\t21.0%\t\t21.0%\t\t21.0%\nState income taxes-net of federal tax benefit\t4.0\t\t2.7\t\t2.6\nImpact of foreign operations (excluding unconsolidated hospitality ventures losses)\t(2.3)\t\t(2.0)\t\t(5.6)\nU.S. net operating loss carryback benefit at 35%\t11.5\t\t0\t\t0\nU.S. foreign tax credits\t(2.3)\t\t0\t\t(1.6)\nTax Cuts and Jobs Act of 2017 deferred rate change\t0\t\t0\t\t(0.1)\nTax Cuts and Jobs Act of 2017 deemed repatriation tax\t0\t\t0\t\t0.3\nChange in valuation allowances\t(1.6)\t\t1.0\t\t0.9\nForeign unconsolidated hospitality ventures\t(1.0)\t\t0.5\t\t0.9\nTax contingencies\t(2.1)\t\t0.3\t\t1.0\nOther\t(0.4)\t\t0.4\t\t(0.3)\nEffective income tax rate\t26.8%\t\t23.9%\t\t19.1%\n", "q10k_tbl_100": "\tDecember 31 2020\tDecember 31 2019\nDeferred tax assets related to:\t\t\nEmployee benefits\t134\t134\nLoyalty program\t133\t118\nLong-term operating lease liabilities\t98\t103\nForeign and state net operating losses and credit carryforwards\t118\t50\nAllowance for uncollectible assets\t40\t33\nInvestments\t36\t28\nUnrealized losses\t23\t7\nInterest and state benefits\t5\t3\nOther\t34\t33\nValuation allowance\t(82)\t(41)\nTotal deferred tax assets\t539\t468\nDeferred tax liabilities related to:\t\t\nProperty and equipment\t(131)\t(152)\nOperating lease ROU assets\t(102)\t(105)\nIntangibles\t(61)\t(59)\nInvestments\t(52)\t(36)\nPrepaid expenses\t(19)\t(9)\nUnrealized gains\t(3)\t(2)\nOther\t(12)\t(8)\nTotal deferred tax liabilities\t(380)\t(371)\nNet deferred tax assets\t159\t97\nRecognized in the balance sheet as:\t\t\nDeferred tax assets-noncurrent\t207\t144\nDeferred tax liabilities-noncurrent\t(48)\t(47)\nTotal\t159\t97\n", "q10k_tbl_101": "\t2020\t2019\t2018\nUnrecognized tax benefits-beginning balance\t125\t116\t94\nTotal increases-current-period tax positions\t24\t21\t10\nTotal increases (decreases)-prior-period tax positions\t3\t(7)\t18\nSettlements\t0\t(3)\t(1)\nLapse of statute of limitations\t(6)\t(3)\t(4)\nForeign currency fluctuation\t0\t1\t(1)\nUnrecognized tax benefits-ending balance\t146\t125\t116\n", "q10k_tbl_102": "\tFour managed hotels in France\t\tOther performance guarantees\t\tAll performance guarantees\t\n\t2020\t2019\t2020\t2019\t2020\t2019\nBeginning balance January 1\t20\t36\t13\t11\t33\t47\nInitial guarantee obligation liability\t0\t0\t0\t7\t0\t7\nAmortization of initial guarantee obligation liability into income\t(4)\t(15)\t(4)\t(3)\t(8)\t(18)\nPerformance guarantee expense net\t26\t37\t31\t5\t57\t42\nNet payments during the year\t(43)\t(37)\t(24)\t(7)\t(67)\t(44)\nForeign currency exchange net\t1\t(1)\t0\t0\t1\t(1)\nEnding balance December 31\t0\t20\t16\t13\t16\t33\n", "q10k_tbl_103": "Property description\tMaximum potential future payments\tMaximum exposure net of recoverability from third parties\tOther long-term liabilities recorded at December 31 2020\tOther long-term liabilities recorded at December 31 2019\tYear of guarantee expiration\nHotel properties in India (1)\t170\t170\t0\t5\t2021\nHotel property in Brazil (2)\t76\t38\t2\t3\t2023\nHotel properties in Tennessee (2)\t56\t26\t8\t8\tvarious through 2024\nHotel properties in California (2)\t38\t15\t2\t3\t2021\nHotel property in Massachusetts (2) (4)\t27\t14\t4\t6\tvarious through 2022\nHotel property in Pennsylvania (2) (4)\t27\t11\t1\t0\tvarious through 2023\nHotel properties in Georgia (2)\t27\t13\t4\t2\tvarious through 2024\nHotel property in Oregon (2)\t21\t8\t1\t3\t2022\nOther (2) (3) (5)\t21\t8\t3\t2\tvarious through 2025\nTotal\t463\t303\t25\t32\t\n", "q10k_tbl_104": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018 (1)\nTotal number of shares repurchased\t827643\t5621281\t12723895\nWeighted-average price per share\t84.08\t74.85\t75.68\nAggregate purchase price (2)\t69\t421\t966\nShares repurchased as a percentage of total common stock outstanding (3)\t1%\t5%\t11%\n(1) Includes the settlement of the May 2018 and November 2018 ASRs as well as 244260 shares related to the 2018 settlement of the November 2017 ASR. The aggregate purchase price includes $20 million of shares delivered in the settlement of the November 2017 ASR in 2018 for which payment was made during 2017.\t\t\t\n(2) Excludes related insignificant expenses.\t\t\t\n(3) Calculated based on the total common stock outstanding as of December 31 of the prior year.\t\t\t\n", "q10k_tbl_105": "\tTotal number of shares repurchased (1)\tWeighted-average price per share\tTotal cash paid\nMay 2018\t2481341\t80.60\t200\nNovember 2018\t2575095\t69.90\t180\n(1) The delivery of shares resulted in a reduction in weighted-average common shares outstanding for basic and diluted earnings per share (see Note 20).\t\t\t\n", "q10k_tbl_106": "\tBalance at January 1 2020\tCurrent period other comprehensive income (loss) before reclassification\tAmount reclassified from accumulated other comprehensive loss\tBalance at December 31 2020\nForeign currency translation adjustments (a)\t(183)\t13\t25\t(145)\nUnrealized gains on AFS debt securities\t1\t0\t0\t1\nUnrecognized pension cost\t(9)\t2\t0\t(7)\nUnrealized losses on derivative instruments (b)\t(18)\t(27)\t4\t(41)\nAccumulated other comprehensive loss\t(209)\t(12)\t29\t(192)\n(a) The amount reclassified from accumulated other comprehensive loss includes the net losses recognized in gains (losses) on sales of real estate and other related to the sale of shares of the entities which own Hyatt Regency Baku and the sale of land and construction in progress (see Note 7).\t\t\t\t\n(b) The amount reclassified from accumulated other comprehensive loss includes realized losses recognized in interest expense net of $2 million tax impacts related to the settlement of interest rate locks (see Note 11). We expect to reclassify $6 million of losses over the next 12 months.\t\t\t\t\n\tBalance at January 1 2019\tCurrent period other comprehensive income (loss) before reclassification\tAmount reclassified from accumulated other comprehensive loss\tBalance at December 31 2019\nForeign currency translation adjustments (c)\t(191)\t1\t7\t(183)\nUnrealized gains on AFS debt securities\t0\t1\t0\t1\nUnrecognized pension cost\t(5)\t(4)\t0\t(9)\nUnrealized losses on derivative instruments\t(4)\t(15)\t1\t(18)\nAccumulated other comprehensive loss\t(200)\t(17)\t8\t(209)\n(c) The amount reclassified from accumulated other comprehensive loss includes the net gain recognized in gains (losses) on sales of real estate and other related to the sale of shares of the entity which owns Grand Hyatt Seoul and adjacent land (see Note 7).\t\t\t\t\n", "q10k_tbl_107": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018\nClass A common stock\t7\t29\t27\nClass B common stock\t13\t51\t41\nTotal cash dividends paid\t20\t80\t68\n", "q10k_tbl_108": "Date declared\tDividend per share amount for Class A and Class B\tDate of record\tDate paid\nFebruary 13 2020\t0.20\tFebruary 26 2020\tMarch 9 2020\nFebruary 13 2019\t0.19\tFebruary 27 2019\tMarch 11 2019\nMay 17 2019\t0.19\tMay 29 2019\tJune 10 2019\nJuly 31 2019\t0.19\tAugust 27 2019\tSeptember 9 2019\nOctober 30 2019\t0.19\tNovember 26 2019\tDecember 9 2019\nFebruary 14 2018\t0.15\tMarch 22 2018\tMarch 29 2018\nMay 16 2018\t0.15\tJune 19 2018\tJune 28 2018\nJuly 31 2018\t0.15\tSeptember 6 2018\tSeptember 20 2018\nOctober 30 2018\t0.15\tNovember 28 2018\tDecember 10 2018\n", "q10k_tbl_109": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018\nSARs\t11\t11\t10\nRSUs\t19\t17\t15\nPSUs\t(6)\t6\t4\nOther\t0\t1\t0\nTotal\t24\t35\t29\n", "q10k_tbl_110": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018\nSARs\t0\t3\t2\nRSUs\t4\t5\t4\nPSUs\t0\t2\t1\nTotal\t4\t10\t7\n", "q10k_tbl_111": "\tSAR units\tWeighted-average exercise price (in whole dollars)\tWeighted-average remaining contractual term\nOutstanding at December 31 2019\t3844357\t55.51\t5.78\nGranted\t1250434\t48.66\t\nExercised\t(417778)\t41.86\t\nForfeited or expired\t0\t0\t\nOutstanding at December 31 2020\t4677013\t54.90\t6.37\nExercisable at December 31 2020\t2602223\t52.68\t4.59\n", "q10k_tbl_112": "\t2020\t2019\t2018\nExercise price\t48.66\t71.67\t80.12\nExpected life in years\t6.24\t6.25\t6.24\nRisk-free interest rate\t0.66%\t2.40%\t2.79%\nExpected volatility\t22.92%\t22.51%\t22.97%\nAnnual dividend yield\t1.64%\t1.06%\t0.75%\n", "q10k_tbl_113": "\tRSUs\tWeighted-average grant date fair value\nNonvested at December 31 2019\t775282\t67.54\nGranted\t663617\t50.28\nVested\t(337528)\t63.04\nForfeited or canceled\t(70181)\t58.04\nNonvested at December 31 2020\t1031190\t58.54\n", "q10k_tbl_114": "\tPSUs\tWeighted-average grant date fair value\nNonvested at December 31 2019\t260416\t73.14\nGranted\t148315\t80.95\nVested\t(62232)\t52.65\nForfeited or canceled\t0\t0\nNonvested at December 31 2020\t346499\t80.16\n", "q10k_tbl_115": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nOwned and leased hotels\t\t\t\t\t\nOwned and leased hotels revenues\t525\t\t1883\t\t1951\nIntersegment revenues (a)\t12\t\t35\t\t33\nAdjusted EBITDA\t(148)\t\t389\t\t431\nDepreciation and amortization\t243\t\t259\t\t277\nCapital expenditures\t111\t\t331\t\t256\nAmericas management and franchising\t\t\t\t\t\nManagement franchise and other fees revenues\t152\t\t439\t\t405\nContra revenue\t(18)\t\t(15)\t\t(13)\nOther revenues\t42\t\t89\t\t0\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t1152\t\t2268\t\t1787\nIntersegment revenues (a)\t14\t\t64\t\t72\nAdjusted EBITDA\t90\t\t380\t\t354\nDepreciation and amortization\t22\t\t24\t\t9\nCapital expenditures\t1\t\t2\t\t1\nASPAC management and franchising\t\t\t\t\t\nManagement franchise and other fees revenues\t61\t\t136\t\t127\nContra revenue\t(2)\t\t(2)\t\t(2)\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t75\t\t113\t\t95\nIntersegment revenues (a)\t0\t\t2\t\t2\nAdjusted EBITDA\t24\t\t87\t\t78\nDepreciation and amortization\t3\t\t3\t\t1\nCapital expenditures\t0\t\t1\t\t4\nEAME/SW Asia management and franchising\t\t\t\t\t\nManagement franchise and other fees revenues\t23\t\t83\t\t80\nContra revenue\t(10)\t\t(5)\t\t(5)\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t55\t\t74\t\t68\nIntersegment revenues (a)\t2\t\t10\t\t10\nAdjusted EBITDA\t(15)\t\t49\t\t46\nDepreciation and amortization\t1\t\t1\t\t1\nCapital expenditures\t2\t\t0\t\t1\nCorporate and other\t\t\t\t\t\nRevenues\t34\t\t61\t\t67\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t4\t\t6\t\t6\nIntersegment revenues (a)\t(1)\t\t(1)\t\t(5)\nAdjusted EBITDA\t(130)\t\t(152)\t\t(132)\nDepreciation and amortization\t41\t\t42\t\t39\nCapital expenditures\t8\t\t35\t\t35\n", "q10k_tbl_116": "Eliminations\t\t\t\nRevenues (a)\t(27)\t(110)\t(112)\nAdjusted EBITDA\t2\t1\t0\nTOTAL\t\t\t\nRevenues\t2066\t5020\t4454\nAdjusted EBITDA\t(177)\t754\t777\nDepreciation and amortization\t310\t329\t327\nCapital expenditures\t122\t369\t297\n", "q10k_tbl_117": "\tDecember 31 2020\tDecember 31 2019\nTotal Assets:\t\t\nOwned and leased hotels\t4006\t4609\nAmericas management and franchising\t1055\t1061\nASPAC management and franchising\t235\t260\nEAME/SW Asia management and franchising\t254\t273\nCorporate and other\t3579\t2214\nTotal\t9129\t8417\n", "q10k_tbl_118": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nRevenues:\t\t\t\t\t\nUnited States\t1730\t\t4142\t\t3587\nAll foreign\t336\t\t878\t\t867\nTotal\t2066\t\t5020\t\t4454\n\t\t\tDecember 31 2020\t\tDecember 31 2019\nProperty and equipment net Operating lease ROU assets Intangibles net and Goodwill:\t\t\t\t\t\nUnited States\t\t\t3435\t\t3798\nAll foreign\t\t\t838\t\t914\nTotal\t\t\t4273\t\t4712\n", "q10k_tbl_119": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nNet income (loss) attributable to Hyatt Hotels Corporation\t(703)\t\t766\t\t769\nInterest expense\t128\t\t75\t\t76\n(Benefit) provision for income taxes\t(257)\t\t240\t\t182\nDepreciation and amortization\t310\t\t329\t\t327\nEBITDA\t(522)\t\t1410\t\t1354\nContra revenue\t30\t\t22\t\t20\nRevenues for the reimbursement of costs incurred on behalf of managed and franchised properties\t(1286)\t\t(2461)\t\t(1956)\nCosts incurred on behalf of managed and franchised properties\t1375\t\t2520\t\t1981\nCosts incurred on behalf of managed and franchised properties that we do not intend to recover from hotel owners\t(45)\t\t0\t\t0\nEquity (earnings) losses from unconsolidated hospitality ventures\t70\t\t10\t\t(8)\nStock-based compensation expense\t24\t\t35\t\t29\n(Gains) losses on sales of real estate and other\t36\t\t(723)\t\t(772)\nAsset impairments\t62\t\t18\t\t25\nOther (income) loss net\t92\t\t(127)\t\t49\nPro rata share of unconsolidated owned and leased hospitality ventures Adjusted EBITDA\t(13)\t\t50\t\t55\nAdjusted EBITDA\t(177)\t\t754\t\t777\n", "q10k_tbl_120": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nNumerator:\t\t\t\t\t\nNet income (loss)\t(703)\t\t766\t\t769\nNet income (loss) and accretion attributable to noncontrolling interests\t0\t\t0\t\t0\nNet income (loss) attributable to Hyatt Hotels Corporation\t(703)\t\t766\t\t769\nDenominator:\t\t\t\t\t\nBasic weighted-average shares outstanding\t101325394\t\t104590383\t\t113259113\nShare-based compensation\t0\t\t1702021\t\t1865904\nDiluted weighted-average shares outstanding\t101325394\t\t106292404\t\t115125017\nBasic Earnings (Losses) Per Share:\t\t\t\t\t\nNet income (loss)\t(6.93)\t\t7.33\t\t6.79\nNet income (loss) and accretion attributable to noncontrolling interests\t0\t\t0\t\t0\nNet income (loss) attributable to Hyatt Hotels Corporation\t(6.93)\t\t7.33\t\t6.79\nDiluted Earnings (Losses) Per Share:\t\t\t\t\t\nNet income (loss)\t(6.93)\t\t7.21\t\t6.68\nNet income (loss) and accretion attributable to noncontrolling interests\t0\t\t0\t\t0\nNet income (loss) attributable to Hyatt Hotels Corporation\t(6.93)\t\t7.21\t\t6.68\n", "q10k_tbl_121": "\tYear Ended December 31\t\t\n\t2020\t2019\t2018\nSARs\t767400\t13000\t100\nRSUs\t522300\t0\t0\n", "q10k_tbl_122": "\tYear Ended December 31\t\t\t\t\n2020\t\t2019\t\t2018\nRestructuring expenses\t(73)\t\t0\t\t0\nPerformance guarantee expense net (Note 15)\t(57)\t\t(42)\t\t(59)\nCredit losses (Note 4 and Note 6)\t(29)\t\t0\t\t0\nUnrealized gains (losses) net (Note 4)\t(13)\t\t26\t\t(47)\nTransaction costs\t0\t\t(1)\t\t(10)\nImpairment of an equity security without a readily determinable fair value (Note 4)\t0\t\t0\t\t(22)\nLoss on extinguishment of debt (Note 11)\t0\t\t0\t\t(7)\nGain on sale of contractual right (Note 7)\t0\t\t16\t\t0\nRelease of contingent consideration liability (Note 7)\t1\t\t30\t\t0\nRelease and amortization of debt repayment guarantee liability\t1\t\t18\t\t11\nRealized gains (losses) net (Note 4)\t6\t\t2\t\t(3)\nPerformance guarantee liability amortization (Note 15)\t8\t\t18\t\t18\nDepreciation recovery\t23\t\t25\t\t22\nInterest income (Note 4)\t30\t\t25\t\t28\nOther net\t11\t\t10\t\t20\nOther income (loss) net\t(92)\t\t127\t\t(49)\n", "q10k_tbl_123": "Description\tBalance at beginning of period\tAdditions charged to revenues costs and expenses\t\tAdditions charged to other accounts\t\tDeductions\tBalance at end of period\nYear Ended December 31 2020:\t\t\t\t\t\t\t\nTrade receivables-allowance for credit losses\t32\t35\t\t2\tA\t(13)\t56\nFinancing receivables-allowance for credit losses\t100\t29\t\t2\tB\t(17)\t114\nDeferred tax assets-valuation allowance\t41\t41\tC\t0\t\t0\t82\nYear Ended December 31 2019:\t\t\t\t\t\t\t\nTrade receivables-allowance for doubtful accounts\t26\t14\t\t0\t\t(8)\t32\nFinancing receivables-allowance for losses\t101\t6\t\t(1)\t\t(6)\t100\nDeferred tax assets-valuation allowance\t41\t6\t\t0\t\t(6)\t41\nYear Ended December 31 2018:\t\t\t\t\t\t\t\nTrade receivables-allowance for doubtful accounts\t21\t15\t\t0\t\t(10)\t26\nFinancing receivables-allowance for losses\t108\t7\t\t(2)\tB\t(12)\t101\nDeferred tax assets-valuation allowance\t51\t(10)\t\t0\t\t0\t41\n", "q10k_tbl_124": "Exhibit Number\tExhibit Description\n3.1\tAmended and Restated Certificate of Incorporation of Hyatt Hotels Corporation\n3.2\tAmended and Restated Bylaws of Hyatt Hotels Corporation (incorporated by reference to Exhibit 3.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on September 11 2014)\n4.1\tSpecimen Class A Common Stock Certificate (incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on October 1 2009)\n4.2\tRegistration Rights Agreement dated as of August 28 2007 as amended by and among Global Hyatt Corporation Madrone GHC LLC Lake GHC LLC Shimoda GHC LLC GS Sunray Holdings L.L.C. GS Sunray Holdings Subco I L.L.C. GS Sunray Holdings Subco II L.L.C. GS Sunray Holdings Parallel L.L.C. GS Sunray Holdings Parallel Subco L.L.C. Mori Building Capital Investment LLC and others party thereto (incorporated by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5 2009)\n4.3\tJoinder Agreement to Registration Rights Agreement dated as of January 26 2010 by and among Hyatt Hotels Corporation and Mori Building Co. Ltd. (incorporated by reference to Exhibit 4.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31 2009 (File No. 001-34521) filed with the Securities and Exchange Commission on February 25 2010)\n4.4\tIndenture dated as of August 14 2009 as amended between Hyatt Hotels Corporation and Wells Fargo Bank National Association as trustee (incorporated by reference to Exhibit 4.3 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9 2009)\n4.5\tFirst Supplemental Indenture dated as of August 14 2009 between Hyatt Hotels Corporation and Wells Fargo Bank National Association as trustee (incorporated by reference to Exhibit 4.4 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9 2009)\n4.6\tSecond Supplemental Indenture dated as of August 4 2011 between the Company and Wells Fargo National Association as trustee (incorporated by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-3 (File No. 333-176038) filed with the Securities and Exchange Commission on August 4 2011)\n4.7\tThird Supplemental Indenture dated as of August 9 2011 between the Company and Wells Fargo National Association as trustee (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 9 2011)\n4.8\tFourth Supplemental Indenture dated May 10 2013 between Hyatt Hotels Corporation and Wells Fargo Bank National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 10 2013)\n4.9\tFifth Supplemental Indenture dated May 10 2013 between Hyatt Hotels Corporation and Wells Fargo Bank National Association as trustee (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 10 2013)\n", "q10k_tbl_125": "Exhibit Number\tExhibit Description\n4.10\tSixth Supplemental Indenture dated March 7 2016 between Hyatt Hotels Corporation and Wells Fargo Bank National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on March 8 2016)\n4.11\tSeventh Supplemental Indenture dated as of August 16 2018 between the Company and Wells Fargo National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 16 2018)\n4.12\tEighth Supplemental Indenture dated as of April 23 2020 between the Company and Wells Fargo National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on April 24 2020)\n4.13\tNinth Supplemental Indenture dated September 1 2020 between the Company and Wells Fargo National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on September 1 2020)\n4.14\tForm of 6.875% Senior Notes due 2019 (included as part of Exhibit 4.5 above) (incorporated by reference to Exhibit 4.4 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on September 9 2009)\n4.15\tForm of 5.375% Senior Notes due 2021 (included as part of Exhibit 4.7 above) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 9 2011)\n4.16\tForm of 3.375% Senior Notes due 2023 (included as part of Exhibit 4.9 above) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 10 2013)\n4.17\tForm of 4.850% Senior Notes due 2026 (included as part of Exhibit 4.10 above) (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on March 8 2016)\n4.18\tForm of 4.375% Senior Note due 2028 (included in Exhibit 4.11 above) (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on August 16 2018)\n4.19\tForm of 5.375% Senior Note due 2025 (included in Exhibit 4.12 above) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on April 24 2020)\n4.20\tForm of 5.750% Senior Note due 2030 (included in Exhibit 4.12 above) (incorporated by reference to Exhibit 4.3 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on April 24 2020)\n4.21\tForm of Floating Rate Senior Note due 2022 (included in Exhibit 4.13 above) (incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on September 1 2020)\n4.22\tRegistration Rights Agreement dated as of October 12 2009 by and among Hyatt Hotels Corporation and Thomas J. Pritzker Marshall E. Eisenberg and Karl J. Breyer solely in their capacity as co-trustees (incorporated by reference to Exhibit 4.5 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on October 15 2009)\n", "q10k_tbl_126": "Exhibit Number\tExhibit Description\n4.23\tDescription of Registered Securities\n10.1\t2007 Stockholders' Agreement dated as of August 28 2007 as amended by and among Hyatt Hotels Corporation Madrone GHC LLC Lake GHC LLC Shimoda GHC LLC GS Sunray Holdings L.L.C. GS Sunray Holdings Subco I L.L.C. GS Sunray Holdings Subco II L.L.C. GS Sunray Holdings Parallel L.L.C. GS Sunray Holdings Parallel Subco L.L.C. Mori Building Capital Investment LLC and others party thereto (incorporated by reference to Exhibit 10.1 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5 2009)\n10.2\tJoinder Agreement to 2007 Stockholders' Agreement dated as of January 26 2010 by and among Hyatt Hotels Corporation and Mori Building Co. Ltd. (incorporated by reference to Exhibit 10.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31 2009 (File No. 001-34521) filed with the SEC on February 25 2010)\n10.3\tJoinder Agreement to 2007 Stockholders' Agreement dated as of March 12 2014 by and among Hyatt Hotels Corporation and Gregory B. Penner (incorporated by reference to Exhibit 10.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31 2015 (File No. 001-34521) filed with the Securities and Exchange Commission on February 18 2015)\n+10.4\tFourth Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 21 2020)\n+10.5\tForm of Non-Employee Director Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.3 to the Company's Registration Statement on Form S-1 (File No. 333-161068) filed with the Securities and Exchange Commission on August 5 2009)\n+10.6\tForm of Deferred Cash Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.14 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.7\tForm of Stock Appreciation Rights Award Agreement under Long-Term Incentive Plan (incorporated by reference to Exhibit 10.15 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.8\tForm of Stock Appreciation Rights Retention Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.16 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.9\tForm of Special Restricted Stock Unit Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.17 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.10\tForm of 2017 Performance Share Unit Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.18 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.11\tForm of 2019 Performance Share Unit Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.14 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 20 2020)\n", "q10k_tbl_127": "Exhibit Number\tExhibit Description\n+10.12\tForm of 2020 Performance Share Unit Agreement under Fourth Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on December 11 2020)\n+10.13\tForm of Restricted Stock Unit - Cash Settled Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.19 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.14\tForm of Restricted Stock Unit - Stock Settled Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.20 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.15\tForm of 2018 Performance Share Unit Award Agreement under Third Amended and Restated Hyatt Hotels Corporation Long-Term Incentive Plan (incorporated by reference to Exhibit 10.21 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.16\tAmended and Restated Hyatt Hotels Corporation Deferred Compensation Plan for Directors effective as of January 1 2019 (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30 2018 (File No. 001-34521) filed with the Securities and Exchange Commission on October 31 2018)\n+10.17\tHyatt Hotels Corporation Summary of Amended and Restated Non-Employee Director Compensation effective as of January 1 2019 (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30 2018 (File No. 001-34521) filed with the Securities and Exchange Commission on October 31 2018)\n+10.18\tEmployment Letter dated as of December 12 2012 between Hyatt Hotels Corporation and Mark S. Hoplamazian (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on December 14 2012)\n+10.19\tEmployment Letter dated as of December 12 2012 between Hyatt Hotels Corporation and Thomas J. Pritzker (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on December 14 2012)\n+10.20\tEmployment Letter dated as of October 5 2018 between Hyatt Corporation and Joan Bottarini (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on October 9 2018)\n+10.21\tEmployment Letter dated as of August 28 2017 between Hyatt Corporation and Mark Vondrasek (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q (File No. 001-34521) filed with the Securities and Exchange Commission on May 2 2019)\n+10.22\tHyatt Hotels Corporation 2018 Executive Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on March 23 2018)\n+10.23\tHyatt International Hotels Retirement Plan (incorporated by reference to Exhibit 10.28 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n", "q10k_tbl_128": "Exhibit Number\tExhibit Description\n+10.24\tSecond Amended and Restated Hyatt Corporation Deferred Compensation Plan effective January 1 2015 (incorporated by reference to Exhibit 10.29 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 14 2019)\n+10.25\tHyatt Hotels Corporation Second Amended and Restated Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on May 21 2020)\n10.26\tSecond Amended and Restated Credit Agreement dated as of January 6 2014 among Hyatt Hotels Corporation and Hotel Investors I Inc. as Borrowers certain subsidiaries of Hyatt Hotels Corporation as Guarantors various Lenders Wells Fargo Bank National Association as Administrative Agent Bank of America N.A. as Syndication Agent Wells Fargo Securities LLC Merrill Lynch Pierce Fenner & Smith Incorporated J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. as Joint Book Runners and Co-Lead Arrangers and JPMorgan Chase Bank N.A. Deutsche Bank Securities Inc. and SunTrust Bank as Co-Documentation Agents (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on January 6 2014)\n10.27\tFirst Amendment to Second Amended and Restated Credit Agreement dated as of January 10 2018 among Hyatt Hotels Corporation and Hotel Investors I Inc. as Borrowers certain subsidiaries of Hyatt Hotels Corporation as Guarantors various Lenders and Wells Fargo Bank National Association as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on January 17 2018)\n10.28\tSecond Amendment to the Second Amended and Restated Credit Agreement dated as of April 21 2020 among Hyatt Hotels Corporation and Hotel Investors I Inc. as Borrowers certain subsidiaries of Hyatt Hotels Corporation as Guarantors the lenders party thereto and Wells Fargo Bank National Association as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K (File No. 001-34521) filed with the Securities and Exchange Commission on April 21 2020)\n10.29\tForm of Franchise Agreement with Hyatt Place Franchising L.L.C. as amended (incorporated by reference to Exhibit 10.46 to the Company's Registration Statement on Form S-1 (File No. 333- 161068) filed with the Securities and Exchange Commission on August 5 2009)\n14.1\tCode of Business Conduct and Ethics incorporated by reference to Exhibit 14.1 to the Company's Annual Report on Form 10-K (File No. 001-34521) filed with the Securities and Exchange Commission on February 20 2020)\n21.1\tList of Subsidiaries\n23.1\tConsent of Deloitte & Touche LLP\n31.1\tCertification of the Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\n31.2\tCertification of the Chief Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\n32.1\tCertification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\n", "q10k_tbl_129": "Exhibit Number\tExhibit Description\n32.2\tCertification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\n99.1\tAmended and Restated Global Hyatt Agreement dated as of October 1 2009 by and among Thomas J. Pritzker Marshall E. Eisenberg and Karl J. Breyer solely in their capacity as co-trustees and each signatory thereto\n99.2\tAmended and Restated Foreign Global Hyatt Agreement dated as of October 1 2009 by and among each signatory thereto\n101.INS\tInline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tInline XBRL Taxonomy Extension Schema Document\n101.CAL\tInline XBRL Taxonomy Extension Calculation Linkbase Document\n101.DEF\tInline XBRL Taxonomy Extension Definition Linkbase Document\n101.LAB\tInline XBRL Taxonomy Extension Label Linkbase Document\n101.PRE\tInline XBRL Taxonomy Extension Presentation Linkbase Document\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\n"}{"bs": "q10k_tbl_52", "is": "q10k_tbl_50", "cf": "q10k_tbl_54"}None
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.
Item 6. (Removed and Reserved).
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Item 8. Financial Statements and Supplementary Data.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Item 9A. Controls and Procedures.
Item 9B. Other Information.
Part III
Item 10. Directors, Executive Officers, and Corporate Governance.
Item 11. Executive Compensation.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Item 13. Certain Relationships and Related Transactions, and Director Independence.
Item 14. Principal Accountant Fees and Services.
Part IV
Item 15. Exhibits and Financial Statement Schedule.
Item 16. Form 10 - K Summary.
Exhibits
EX-3.1
a123120exhibit31.htm
EX-4.23
a123120exhibit423.htm
EX-21.1
a123120exhibit211.htm
EX-23.1
a123120exhibit231.htm
EX-31.1
a123120exhibit311.htm
EX-31.2
a123120exhibit312.htm
EX-32.1
a123120exhibit321.htm
EX-32.2
a123120exhibit322.htm
EX-99.1
a123120exhibit991.htm
EX-99.2
a123120exhibit992.htm
Hyatt Hotels Earnings 2020-12-31
Balance Sheet
Income Statement
Cash Flow
Assets, Equity
Rev, G Profit, Net Income
Ops, Inv, Fin
h-20201231
00014681742020FYFALSEus-gaap:AccountingStandardsUpdate201613MemberCumulative adjustment due to adoption of Accounting Standards Update No. 2016-01 ("ASU 2016-01"), Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, and Accounting Standards Update No. 2016-01 ("ASU 2016-01"), Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. Upon the adoption of ASU 2016-01, unrealized gains and losses on our equity securities, previously classified as available-for-sale, are recognized in other income (loss), net.Cumulative adjustment due to adoption of Accounting Standards Update No. ASU 2016-13 ("ASU 2016-13"), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (see Note 2). 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☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2020
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File No. 001-34521
HYATT HOTELS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
20-1480589
(State or Other Jurisdiction of Incorporation or Organization)
(IRS Employer Identification No.)
150 North Riverside Plaza
8th Floor,
Chicago,
Illinois
60606
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code: (312) 750-1234
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Class A Common Stock, $0.01 par value
H
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☑ No ☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐No☑
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check One):
Large accelerated filer
☑
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑
At June 30, 2020, the aggregate market value of the registrant's Class A common stock, $0.01 par value, held by non-affiliates of the registrant was approximately $1,871.4 million (based upon the closing sale price of the Class A common stock on June 30, 2020 on The New York Stock Exchange). The market value of the registrant's Class B common stock is not included in the above value as there is no active market for such stock.
At January 31, 2021, there were 39,261,233 shares of the registrant's Class A common stock, $0.01 par value, outstanding and 62,038,918 shares of the registrant's Class B common stock, $0.01 par value, outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Part III of this Annual Report on Form 10-K incorporates by reference portions of the registrant's Proxy Statement for its 2021 Annual Meeting of Stockholders to be held on May 19, 2021.
This annual report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the Company's plans, strategies, and financial performance; the impact of the COVID-19 pandemic and pace of recovery; the amount by which the Company intends to reduce its real estate asset base and the anticipated timeframe for such asset dispositions; the Company's liquidity profile and sufficiency to fund operations at current demand levels; and prospective or future events. Forward-looking statements involve known and unknown risks that are difficult to predict. As a result, 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, but are not limited to:
•the factors discussed in this annual report set forth under the sections titled "Risk Factors" in Part I, Item 1A and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7;
•the duration of the COVID-19 pandemic and its short and longer-term effects, including the demand for travel, transient and group business, and levels of consumer confidence, and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants;
•the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending;
•the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants;
•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 ("ADR");
•limited visibility with respect to future bookings;
•loss of key personnel;
•domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy;
•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, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, such as the COVID-19 pandemic, or fear of such outbreaks;
•our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners;
•the impact of hotel renovations and redevelopments;
•risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments;
•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;
•relationships with colleagues and labor unions and changes in labor laws;
•the 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 and our ability to successfully integrate completed acquisitions with existing operations;
•failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals);
•our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values;
•declines in the value of our real estate assets;
•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;
•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 the COVID-19 pandemic, industry consolidation, and the markets where we operate;
•our ability to successfully grow the World of Hyatt loyalty program;
•cyber incidents and information technology failures;
•outcomes of legal or administrative proceedings; and
•violations of regulations or laws related to our franchising business.
These factors are not necessarily all of the important factors that could cause our actual results, performance, or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. Other unknown or unpredictable factors could also harm our business, financial condition, results of operations, or cash flows. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and 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.
Unless otherwise specified or required by the context, references in this annual report to "we," "our," "us," "Hyatt," and the "Company" refer to Hyatt Hotels Corporation, a Delaware corporation, and its consolidated subsidiaries.
As used in this annual report:
•"Pritzker family business interests" means (1) various lineal descendants of Nicholas J. Pritzker (deceased) and spouses and adopted children of such descendants; (2) various trusts for the benefit of the individuals described in clause (1) and trustees thereof; and (3) various entities owned and/or controlled, directly and/or indirectly, by the individuals and trusts described in (1) and (2);
•"colleagues" refers to the more than 115,000 individuals (of which we directly employ approximately 37,000) working at our corporate and regional offices and our managed, franchised, owned, and leased properties in 69 countries around the world;
•"hotel portfolio" refers to our full service hotels, including our wellness resorts, and our select service hotels;
•"properties," "portfolio of properties," or "property portfolio" refers to our hotel portfolio, all-inclusive resorts, and residential, vacation, and condominium ownership units that we operate, manage, franchise, own, lease, develop, license, or to which we provide services or license our trademarks, including under the Park Hyatt, Miraval, Grand Hyatt, Alila, Andaz, The Unbound Collection by Hyatt, Destination, Hyatt Regency, Hyatt, Hyatt Ziva, Hyatt Zilara, Thompson Hotels, Hyatt Centric, Caption by Hyatt, Joie de Vivre, Hyatt House, Hyatt Place, tommie, UrCove, and Hyatt Residences Club brands;
•"residential ownership units" refer to residential units that we manage, own, or to which we provide services or license our trademarks (such as serviced apartments and Hyatt-branded residential units) that are typically part of a mixed-use project and located either adjacent to or near a full service hotel that is a member of our portfolio of properties or in unique leisure locations;
•"vacation ownership units" refer to the fractional and timeshare vacation ownership properties with respect to which we license our trademarks and that are part of the Hyatt Residence Club;
•"condominium ownership units" refer to whole ownership residential units (condominium and private residences) that we provide services to and, in some cases management of, the rental programs and/or homeowner associations associated with such units; and
•"hospitality ventures" refer to entities in the hospitality industry in which we own less than a 100% equity interest.
Additionally, through strategic relationships, we provide certain reservation and/or loyalty program services to hotels that are unaffiliated with our hotel portfolio and which operate under other tradenames or marks owned by such hotel or licensed by third parties.
Park Hyatt®, Miraval®, Grand Hyatt®,Alila®, Andaz®, The Unbound Collection by Hyatt®,Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, Hyatt House®, Hyatt Place®, tommie™, Hyatt Residence Club®, Hyatt Residences®, World of Hyatt®, Hyatt Resorts™, and related trademarks, logos, trade names, and service marks appearing in this annual report are the property of Hyatt Corporation or another wholly owned subsidiary of Hyatt Hotels Corporation. All other trademarks, trade names, or service marks appearing in this annual report are the property of their respective owners.
Hyatt Hotels Corporation is a global hospitality company with widely recognized, industry-leading brands and a tradition of innovation developed over our more than sixty-year history. In 2004, substantially all of the hospitality assets owned by Pritzker family business interests, including Hyatt Corporation and Hyatt International Corporation, were consolidated under a single entity whose name was subsequently changed to Global Hyatt Corporation. In 2009, Global Hyatt Corporation changed its name to Hyatt Hotels Corporation, and we completed our initial public offering ("IPO") of our Class A common stock.
We operate, manage, franchise, own, lease, develop, license, or provide services to a portfolio of properties, consisting of full service hotels, select service hotels, resorts, and other properties, including timeshare, fractional, and other forms of residential, vacation, and condominium ownership units. At December 31, 2020, our hotel portfolio consisted of 974 hotels (235,272 rooms). See Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations—Overview" for a categorized breakdown of our portfolio. Our colleagues and hotel general managers are supported by our regional management teams, located in cities around the world, and our executive management team, headquartered in Chicago.
Our thirteen full service brands are: Park Hyatt, Miraval, Grand Hyatt, Alila, Andaz, The Unbound Collection by Hyatt, Destination, Hyatt Regency, Hyatt, Thompson Hotels, Hyatt Centric, Joie de Vivre, and tommie. Our select service brands are Caption by Hyatt, Hyatt House, and Hyatt Place. In addition, we participate in an unconsolidated hospitality venture with a Chinese hospitality company that owns the UrCove select service brand serving the upper-midscale market in Greater China. Our all-inclusive resort brands are Hyatt Ziva and Hyatt Zilara. We also manage, provide services to, or license our trademarks with respect to residential ownership units that are often adjacent to a Hyatt-branded full service hotel. We consult with third parties in the design and development of such mixed-use projects. We license certain of our trademarks with respect to vacation ownership units, which are part of Hyatt Residence Club. Additionally, we provide services and, in some cases, manage the rental programs and/or homeowner associations associated with condominium ownership units.
We primarily derive our revenues from owned and leased hotel operations, management of hotels, and licensing of our portfolio of brands to franchisees. For the year ended December 31, 2020, revenues totaled $2.1 billion, net loss attributable to Hyatt Hotels Corporation totaled $703 million, and Adjusted EBITDA totaled $(177) million. See Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations—Key Business Metrics Evaluated by Management—Adjusted Earnings Before Interest Expense, Taxes, Depreciation, and Amortization ("Adjusted EBITDA") and EBITDA" for our definition of Adjusted EBITDA, why we present it, and for a reconciliation of our net income (loss) attributable to Hyatt Hotels Corporation to consolidated Adjusted EBITDA for the periods presented.
Impact of the COVID-19 Pandemic
The global spread and impact of the COVID-19 pandemic are complex and continuously evolving, resulting in significant disruption to our business, the lodging and hospitality industries, and the global economy. The pandemic has led governments and other authorities around the world to impose measures intended to control its spread, including restrictions on large gatherings of people, travel bans, border closings, business closures and restrictions, quarantines, shelter-in-place orders, and social distancing measures. As a result, the COVID-19 pandemic and its consequences have significantly reduced global travel and demand for hotel rooms and travel experiences, and have had a material detrimental impact on global commercial activity across the travel, lodging, and hospitality industries, which has had, and is expected to continue to have, a material impact on our business, results of operations, cash flows, and financial condition.
Our Purpose, Vision, Mission, and Values
Our Purpose
We care for people so they can be their best.
Our Vision
A world of understanding and care.
Our Mission
We deliver distinctive experiences for our guests.
Respect, integrity, humility, empathy, creativity, and fun.
Our purpose, vision, mission, and values are brought to life by our colleagues, whom we refer to as the Hyatt family. We believe our colleagues around the world embody our purpose of caring for people, including one another, our guests and customers, property owners, and the communities in which our hotels operate. We are strongly committed to advancing care for all of our stakeholders and creating personal connections to increase loyalty and drive results. High levels of guest satisfaction lead to increased guest preference for our brands, which we believe results in a strengthened revenue base over the long term. We also believe engaged colleagues will enhance efficient operation of our properties, resulting in improved financial results. Sustained adherence to these principles is a basis for our brand reputation and strongly contributes to our growth as our diverse group of owners and developers choose to invest in our portfolio of properties around the world.
Our Competitive Strengths
We have significant competitive strengths that support our mission to deliver distinctive experiences for our guests and drive growth and create value for our customers, colleagues, and shareholders.
World Class Brands. Inspired by a deep understanding of guest needs, we have developed, and in some cases acquired, a global suite of distinct brands.
Global Platform with Compelling Growth Potential. Our existing global presence is widely distributed, and our hotels operate in some of the most populous urban centers around the globe, and we believe our existing hotels, located in key markets around the globe, provide us with a strong platform from which to selectively pursue new growth opportunities in markets where our brands are less prevalent.
Deep Culture and Experienced Management Teams. The Hyatt family is united by shared values, a single purpose, and a deep commitment to listening, understanding, and personalizing experiences for our guests and customers – all of which we believe increases loyalty, differentiates us from the competition, and drives business results.
Strong Capital Base and Disciplined Financial Approach. Our approach is to maintain appropriate levels of financial leverage through industry cycles and downturns. Current economic conditions brought about by the COVID-19 pandemic have negatively impacted our earnings, cash flow from operations, and leverage levels. As a result, we accessed debt capital markets to enhance our liquidity in order to support operations until demand returns and cash flow improves. At December 31, 2020, we had cash and cash equivalents and short-term investments of $1.9 billion and available borrowing capacity of approximately $1.5 billion. We believe our balance sheet strength uniquely positions us to successfully navigate the current economic environment and to take advantage of strategic opportunities to expand our presence and grow our business over time.
Diverse Exposure to Hotel Management, Franchising, Ownership, and Development. Our mix of managed, franchised, owned, and leased properties provides a broad and diverse base of revenues, profits, and cash flows and gives us flexibility to evaluate growth opportunities across our lines of business.
High-Quality Owned Hotels are Located in Desirable Markets and are a Source of Capital for New Growth Investments. We believe our owned assets provide us the opportunity to unlock additional shareholder value through targeted dispositions that provide cash proceeds to fund additional strategic investments to expand our presence or provide incremental return of capital to shareholders. In 2018, we realized $1.5 billion of proceeds from the disposition of owned assets, completing our initial sell-down commitment. In March 2019, we committed to an additional $1.5 billion reduction of our owned real estate portfolio over a three-year period, and at December 31, 2020, we have realized proceeds of approximately $1 billion under this commitment.
Our Business Strategy
Despite the disruptive impact of the COVID-19 pandemic on our business and the hospitality industry, we remain committed to our long-term strategy. Our strategy to drive long-term sustainable growth and create value for guests, customers, colleagues, owners, and shareholders is focused on the following areas:
•Maximize Our Core Business: We continue to grow and operate our core business with excellence in order to be best-in-class while aiming to generate profits to fuel our growth.
•Integrate New Growth Platforms: We seek to identify and integrate new opportunities to advance care for our guests and provide additional paths for growth.
•Optimize Capital Deployment: We take a comprehensive and disciplined approach to our deployment of capital to expand our management and franchising business, invest in new growth platforms, and return capital to our shareholders.
Description of Brands
Brand
Segment
Customer Base
December 31, 2020 Rooms (1)
Primary Selected Competitors
Key Locations
% of Our Managed and Franchised Properties (1)
Americas Region
ASPAC Region
EAME/SW Asia Region
Luxury
Leisure and business; small meetings
3%
1,622
4,158
2,425
Four Seasons, Mandarin Oriental, Ritz-Carlton, St. Regis, The Peninsula
Auckland, Bangkok, Buenos Aires, St. Kitts, Kyoto, New York, Paris, Vienna, Milan, Sydney, Tokyo Washington D.C.
Luxury/Wellness
Leisure
<1%
362
—
—
Cal-a-vie, Canyon Ranch, Golden Door
Austin, Berkshires, Tucson
Luxury
Leisure and business; large and small meetings, social events
13%
12,871
15,278
4,036
JW Marriott, Conrad, Fairmont, InterContinental
Abu Dhabi, Beijing, Dubai, Hong Kong, Kochi, Mumbai, Nashville, Nassau, Rio de Janeiro, San Francisco, Singapore, Shanghai, Tokyo, Xian
Luxury
Leisure and business; small meetings, social events
1%
50
1,099
296
One&Only, Six Senses, Aman, Banyan Tree, COMO
Anji, Bali, Big Sur, Bishangarth, Goa, Jabal Al Akhdar, Koh Russey Island, Surakarta, Wuzhen
Luxury
Leisure and business; small meetings
2%
2,179
1,578
1,775
W, Edition, SLS, Viceroy, Kimpton
Abu Dhabi, Amsterdam, Delhi, Dubai, London, Munich, Maui, New York, Seoul, Singapore, Vienna, Tokyo, Xiamen
Luxury
Business and leisure; small meetings
2%
2,355
801
1,685
Marriott Autograph Collection, Curio Collection by Hilton
Austin, Barcelona, Biarritz, Cannes, Chongqing, London, Miami Beach, Nashville, New Orleans, Paris, Phoenix, Stockholm
Upper-Upscale
Business and leisure; large and small meetings, social events, associations
2%
3,906
—
—
Marriott Autograph Collection, Curio Collection by Hilton, Tapestry Collection by Hilton
Charleston, Cle Elum, Maui, Phoenix, Snowmass, Lake Tahoe, Stowe, Vail
Freehand, Mama Shelter, Citizen M, The Line, Ace Hotels
—
Upper-Midscale
Business and leisure; small meetings
<1%
—
1,015
—
ATOUR, Hampton Inn, Mercure
Shanghai
Vacation Ownership
Owners of vacation units, repeat Hyatt business and leisure
—%
—
—
—
Hilton Vacation Club, Marriott Vacation Club
Aspen, Beaver Creek, Carmel, Key West, Lake Tahoe, Maui, Sedona
(1) Figures do not include vacation ownership, residential, condominium ownership units, or one unbranded property in the Americas with 800 rooms. The UrCove brand is owned by an unconsolidated hospitality venture between a Hyatt affiliate and a Chinese hospitality company. The Hyatt Centric and Thompson Hotels room counts each include one property that we will rebrand under the Hyatt Centric brand and Thompson Hotels brand, respectively, in 2021. The Hyatt Regency room count includes two properties that we will rebrand under the Hyatt Regency brand in 2021.
Park Hyatt
Park Hyatt hotels emphasize luxury and personalization. Located in many of the world's premier destinations, each Park Hyatt hotel is custom designed to combine sophistication with distinctive regional character. Cultured, affluent business and leisure travelers find a home-away-from-home amidst renowned artwork and design. Immersive and rare culinary experiences are designed to create unique and deeply enriching dining occasions for guests.
Miraval
The Miraval brand is a global leader in wellness resorts and spas. Miraval Arizona Resort & Spa in Tucson pioneered the wellness spa resort category with its comprehensive program of activities, experiences, and personal treatments. The Miraval brand's commitment to helping guests live life in balance is the cornerstone of a distinct wellness offering within our portfolio of brands. This commitment reflects our focus on serving the high-end traveler by finding new ways to understand and care for them beyond the traditional hotel stay.
Grand Hyatt
Grand Hyatt hotels are distinctive hotels in major gateway cities and resort destinations. With presence around the world and critical mass in Asia, Grand Hyatt hotels provide sophisticated business and leisure travelers with elegant accommodations, extraordinary restaurants, bars, luxury spas, and fitness centers, as well as comprehensive business and meeting facilities. Signature elements of Grand Hyatt hotels include iconic architecture, state of the art technology, and facilities for an array of business or social gatherings of all sizes.
Alila
The Alila brand is the combination of innovative design and luxury in unique locations, set apart by crafted artisanship, personalized hospitality, and bespoke journeys. Alila means "Surprise" in Sanskrit, which suitably describes the refreshing character of this brand. In support of sustainable tourism, Alila hotels and resorts adopt EarthCheck – operating standards, integrating the natural, physical, and cultural elements of their environments. To stay at any Alila hotel or resort is to embark on a destination experience – delighting in the flavors of the local cuisine, enhancing wellbeing through ancient healing arts, or enjoying the thrill of adventure sports.
Andaz hotels draw upon surrounding neighborhoods to craft distinctively local experiences, fully immersing guests in each inspiring destination through unique expressions of local culture. Every Andaz hotel is one of a kind in every sense - an elevated reflection of the destination's culture. From locally inspired architecture in the lobby and facades, to the music heard in our signature Andaz Lounges, to the flavors in market-to-table restaurants, distinctive textures in guestrooms, and soothing aromas at Andaz hotel spas, Andaz hotels are designed to reflect their surroundings and feature a unique and innovative service model that creates a barrier-free and non-traditional environment. Guests will experience personalized and unscripted service where they can become inspired by the spirit of the local community.
The Unbound Collection by Hyatt
The Unbound Collection by Hyatt brand is a portfolio of upper-upscale and luxury properties ranging from historic urban gems to contemporary new build hotels, boutique properties, and resorts. Each property provides thought-provoking environments that inspire moments for guests seeking a sophisticated yet unscripted experience when they travel. The philosophy behind The Unbound Collection by Hyatt brand is to attract owners and developers who want their properties to maintain a distinct character and brand name, but gain the power of Hyatt's robust distribution, operational and marketing resources, award winning customer loyalty program, and trusted brand name and reputation.
Destination Hotels
Destination Hotels is a diverse collection of independent hotels, resorts, and residences that are individual at heart yet connected by a commitment to draw upon the true spirit of each location. Each property is purposefully crafted to be a place of discovery for guests through authentic experiences, unique design, and connections to the local community. The award-winning portfolio features renowned golf courses, indigenous spas, and exceptional food and beverage options including bars, restaurants, cafés, and rooftops. Destination Hotels capture the unique essence of each resort location through immersive discoveries, authentic design, and warm, welcoming service. The Destination Residential Management business operates within this brand and provides services to, and in some cases manages, the rental programs and/or homeowner associations related to condominium ownership units.
Hyatt Regency
Hyatt Regency hotels offer a full range of services, amenities, and facilities tailored to serve the needs of meeting planners, business travelers, and leisure guests. Hyatt Regency hotels in key urban markets around the world feature flexible meeting and conference facilities of all sizes designed to provide a productive, connected environment. Hyatt Regency hotels in resort locations cater to couples seeking a getaway, families enjoying a vacation together, and corporate groups seeking an atmosphere in which to conduct business and meetings.
Hyatt
Hyatt hotels are smaller-sized properties conveniently located in diverse business and leisure areas. These hotels help guests make the most of their stay, whether for an important business meeting or social gathering, to explore a new city, or to reconnect with family and friends.
Hyatt Ziva
Hyatt Ziva all-inclusive resorts are designed for guests of all ages in premier leisure locations. They offer a variety of on-site activities and opportunities to experience the local culture and destination. Hyatt Ziva resorts feature a wide array of food and beverage outlets with an emphasis on authentic local cuisine and are able to cater to social or business groups with varied and well-appointed meeting facilities.
Hyatt Zilara
Hyatt Zilara adult-only all-inclusive resorts are located in sought-after resort destinations. They offer a wide array of food and beverage services with a focus on authentic local and global cuisines. The resorts offer premier spas, social activities, and live entertainment, as well as a variety of meeting spaces. The resorts are designed so couples or small groups can enjoy intimate, sophisticated surroundings.
Thompson Hotels is an award-winning boutique lifestyle brand with a collection of original properties in urban and resort destinations. A collection for the modern, sophisticated traveler, each location offers a thoughtfully curated experience designed to spark conversation, connect guests to world-class culinary offerings, and a layered design reflective of the surroundings locale.
Hyatt Centric
Hyatt Centric hotels are full service lifestyle hotels located in prime destinations, created for curious leisure travelers who want to be in the heart of the action so they never miss a moment of adventure. Hyatt Centric hotels help guests discover the world's most compelling destinations like a local. Located in the center of the action, Hyatt Centric hotels serve as the perfect launch pad for exploring all the hidden gems and hot spots each destination has to offer. Exploration does not end at the door. Hyatt Centric hotels feature artistically curated spaces throughout the hotel, thoughtfully designed to help guests work, relax, and socialize. After a day of exploration, guests can enjoy a selection of artisanal crafted cocktails and local fare in a chic space with a chill vibe. A staff of knowledgeable colleagues is on hand to aid guests in their discovery of their surroundings.
Caption by Hyatt
Caption by Hyatt is a new lifestyle brand within the select service category designed to deliver on today's travelers' desires for an approachable, lively, and conscious environment where everyone is welcome. The social spaces are designed to act as a constantly active and engaging destination within the neighborhoods and communities they are located. At the heart of the experience is Talk Shop, an all-day food and beverage concept that invites guests to work, eat, and socialize in comfortable, flexible, communal spaces designed to inspire meaningful conversations and authentic connections. Caption by Hyatt hotels will combine the design and comfort of an upscale, lifestyle-forward hotel with the flexibility and efficiency of a select-service property through self-activated experiences, a responsibly engaged local team, and social spaces designed for community.
Joie de Vivre
A community for the spirited, light-hearted, and young-at-heart, the Joie de Vivre brand offers a collection of vibrant, independent hotels that are true reflections of the urban neighborhoods they call home. Each hotel provides an experience that is inclusive in spirit and space, effortlessly bringing people together with joy-driven service. Embracing its namesake, each property invites guests and locals to connect, live in the moment, and make each stay yours truly.
Hyatt House
Hyatt House hotels are designed to welcome guests as extended stay residents. Apartment-style suites with fully equipped kitchens and separate living areas remind guests of the conveniences of home. Hyatt House hotels are designed to keep guests comfortable during longer stays with complimentary hot breakfast, H BAR food and beverage offerings, and indoor and outdoor communal spaces.
Hyatt Place
Hyatt Place hotels offer a modern, comfortable, and seamless experience, combining style and innovation to create a casual hotel environment for today's multi-tasking traveler. Thoughtfully designed guestrooms feature distinct areas for sleep, work, and relaxation. Hyatt Place hotels also offer freshly prepared food around the clock, efficient service, and an easy to navigate experience. From the lobby to the guest rooms to in-hotel dining, every aspect of the hotel experience is designed with the high value business traveler in mind.
tommie
The tommie brand is designed to be a gathering place that inspires guests to author their own experiences. By focusing on the essentials and providing fun, relevant choices, the tommie brand offers a fresh lens for the youthful and open-minded to explore, connect, and discover.
UrCove
The UrCove brand is designed specifically to meet Chinese business travelers' preferences and growing expectations for a seamless, comfortable, and premium travel experience in the upper-midscale market. Hotels in the UrCove brand, which is short for "your cove," blend comfort and convenience for the modern traveler through thoughtful service, spacious rooms, delicious food, and a relaxed yet refined ambiance.
Hyatt Residence Club provides members with vacation ownership opportunities in regionally inspired and designed residential-style properties with the quality of the Hyatt brand. Members pre-purchase time at a Hyatt Residence Club property and have the flexibility of usage, exchange, and rental. Hyatt Residence Club members can choose to occupy their vacation home, exchange time among other Hyatt Residence Club locations, trade their time for World of Hyatt loyalty program bonus points, or travel within the Hyatt system.
Business Segment, Revenues, and Geographical Information
We manage our business within four reportable segments as described below:
•Owned and leased hotels, which consists of our owned and leased full service and select service hotels and, for purposes of segment Adjusted EBITDA, our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture;
•Americas management and franchising ("Americas"), which consists of our management and franchising of properties located in the United States, Latin America, Canada, and the Caribbean, as well as our residential management operations;
•ASPAC management and franchising ("ASPAC"), which consists of our management and franchising of properties located in Southeast Asia, Greater China, Australia, New Zealand, South Korea, Japan, and Micronesia; and
•EAME/SW Asia management and franchising ("EAME/SW Asia"), which consists of our management and franchising of properties located in Europe, Africa, the Middle East, India, Central Asia, and Nepal.
Within corporate and other, we include the results from our co-branded credit card program, the results of the Exhale spa and fitness business, which was sold in December 2020, and unallocated corporate expenses. Effective January 1, 2020, we changed the strategic and operational oversight for our Miraval properties, which were previously evaluated as a distinct business by our chief operating decision maker ("CODM"). The management fees from Miraval properties are now reported in the Americas management and franchising segment, and the operating results and financial position of underlying hotel results are now reported in our owned and leased hotels segment; the results of Miraval properties were previously reported in corporate and other. In addition, the license fees we receive from Hyatt Residence Club are now reported within our Americas management and franchising segment due to changes in the strategic oversight for these license agreements. For information regarding our four reportable business segments, revenues, and geographical information, see Part IV, Item 15, "Exhibits and Financial Statement Schedule—Note 19 to our Consolidated Financial Statements."
Management Agreements
We manage hotels worldwide pursuant to management agreements.
Hotel Management Agreements Fees
Our hotel management agreements typically provide for a two-tiered fee structure that compensates us both for the volume of business we generate for the property as well as for the profitability of hotel operations. In these two-tier fee structures, our base compensation is a base fee that is usually an agreed-upon percentage of gross revenues from hotel operations. In addition, we are incentivized to improve hotel profitability through an incentive fee that is typically calculated as a percentage of a hotel profitability measure, such as gross operating profit, adjusted profit, or the amount by which gross operating profit or adjusted profit exceeds a specified threshold. Outside of the United States, some management agreements have fees more dependent on hotel profitability measures either through a single management fee structure where the entire fee is based on a profitability measure or because our two-tier fee structure is more heavily weighted toward the incentive fee than the base fee.
The approximate average remaining term of our hotel management agreements with third-party owners and unconsolidated hospitality ventures for full service hotels and select service hotels (other than those currently under development) is as follows:
Assuming no renewal options are exercised by either party:
Including exercise of extension options that are in Hyatt's sole discretion:
Full service management agreements:
Americas
13 years
18 years
EAME/SW Asia
16 years
20 years
ASPAC
14 years
15 years
Select service management agreements:
Americas
12 years
28 years
EAME/SW Asia
19 years
33 years
ASPAC
18 years
19 years
Some of our hotel management agreements grant early termination rights to hotel owners upon the occurrence of a stated event, such as the sale of the hotel or our failure to meet a specified performance test (any such event a "termination event"). In the case of a termination event, some of our management agreements grant hotel owners the right to terminate the hotel management agreement and convert the hotel to a Hyatt franchise. Generally, termination rights under performance tests are based upon the property's individual performance or its performance when compared to a specified set of competitive hotels branded by other hotel operators or both. These termination rights are usually triggered if we do not meet the performance tests over multiple years. We generally have the option to cure performance failures by paying an amount equal to the shortfall, but in some cases our cure rights may be limited, and our failure to meet a performance test may result in the termination of our hotel management agreement. Certain of our management agreements allow for a termination right after a multi-year lock-out period and are subject to a termination fee generally based upon a formula related to the lost fees.
Many of our hotel management agreements, particularly in the United States, are subordinated to mortgages or other secured indebtedness of the owners. In most cases, our subordination agreements with lenders recognize our right to continue to manage the hotels under the terms set forth in the hotel management agreements if the lenders take possession of the hotel property through foreclosure or similar means.
Franchise Agreements
Our franchise agreements grant our franchisees the limited right to use our name, marks, and system in the operation of franchised Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Ziva, Hyatt Zilara, Thompson Hotels, Hyatt Centric, Caption by Hyatt, Hyatt House, and Hyatt Place properties, and franchised properties operated under distinct tradenames and affiliated with The Unbound Collection by Hyatt, Destination Hotels, and Joie de Vivre. We do not participate in the management of our franchised hotels; however, franchisees are required to operate franchised hotels consistent with our brand standards. We approve the plans for, and the location of, franchised hotels and review the operation of these hotels to ensure our standards are maintained.
Fees
In general, our franchisees pay us an initial application fee and/or a design services fee as well as ongoing royalty fees, the amount of which depends on the brand under which the franchised property is licensed. We franchise full service hotels under the Grand Hyatt, Hyatt Regency, Hyatt, Thompson Hotels, and Hyatt Centric brands, all-inclusive resorts under the Hyatt Ziva and Hyatt Zilara brands, and full service hotels under distinct tradenames and affiliated with The Unbound Collection by Hyatt, Destination Hotels, and Joie de Vivre brands. We franchise select service hotels under the Caption by Hyatt, Hyatt House, and Hyatt Place brands. Our Grand Hyatt, Hyatt Regency, Hyatt, and Thompson Hotels franchisees typically pay us franchise fees calculated as 6% of gross room revenues and 3% of gross food and beverage revenues. Our Hyatt Centric franchisees typically pay us franchise fees calculated as 5% of gross room revenues. The Unbound Collection by Hyatt, Destination Hotels, and Joie de Vivre franchisees typically pay us continuing franchise fees calculated as 7% of gross room revenues generated through Hyatt reservation and booking channels. In some cases, typically for new hotel development
franchise agreements, our full service continuing franchise fees begin at a lower percentage than listed above and escalate in the initial few years of the term. Caption by Hyatt, Hyatt House, and Hyatt Place franchisees, typically for new hotel development franchise agreements, pay continuing franchise fees calculated as a percentage of gross room revenues, which typically are 3% in the first year of operations, 4% in the second year, and 5% through the remainder of the term. Our all-inclusive franchisees typically pay us franchise fees calculated as either 2.75% or 3.25% of gross revenues. Application fees are typically $75,000 plus $500 per guest room in excess of 150 for our Hyatt House and Hyatt Place hotels, $95,000 plus $500 per guest room in excess of 200 for our Caption by Hyatt hotels, the greater of $100,000 or $400 per guest room for our Hyatt Regency and Grand Hyatt hotels, and the greater of $100,000 or $300 per guest room for our other full service hotels and all-inclusive resorts. In some circumstances, we have negotiated other fee arrangements, and in some regions outside of the United States, we typically negotiate alternative application fee arrangements.
In addition to our franchise fees, we charge full service and select service hotels and all-inclusive resort franchisees for certain services arranged and, in most cases, provided by us. These activities may include centralized reservation functions, certain sales functions, technology, national advertising, certain marketing and promotional services, as well as various revenue management services.
Terms and Renewals
The standard term of our franchise agreements is typically 20 years, with one 10 year renewal option exercisable by the franchisee, assuming the franchisee has complied with franchise agreement requirements and standards. Certain of our franchise agreements have renewal options at Hyatt's option, generally triggered if the franchisee has failed to exercise its renewal option. Certain of our franchise agreements have renewal options upon the mutual agreement of the parties. We have the right to terminate franchise agreements upon specified events of default, including non-payment of fees and non-compliance with brand standards. In the event of early termination for any reason, our franchise agreements typically set forth liquidated damages our franchisees must pay to us upon termination. The bankruptcy of a franchisee or lender foreclosure could result in the termination of the franchise agreement. The average remaining base term of our franchise agreements for our select service and full service hotels in all regions (other than those currently under development) is approximately 16 years, assuming no renewal options are exercised by either party. Including exercise of extension options in Hyatt's sole discretion, the average remaining term of our franchise agreements for our select service hotels and full service hotels in all regions (other than those currently under development) is approximately 17 years.
Other Service Agreements
We provide services under the Destination Residential Management business pursuant to rental management agreements with individual property owners and/or homeowner associations whereby the property owners and/or homeowner associations participate in our rental program. The agreements typically provide for our receipt of a percentage split of the total gross revenue generated from a property under the rental program, and expenses of the property are paid from such split. The agreement terms are typically one or two years. Additionally, we provide association management services to the various homeowner associations where we manage the properties for a fee.
Sales, Marketing, and Reservations and Global Contact Centers
Sales
We deploy a global sales team as well as regional sales teams in our Americas, ASPAC, and EAME/SW Asia regions. The global team is responsible for our largest and most significant accounts doing business in all three regions. The regional teams are responsible for large accounts that typically do business within one region, but at multiple hotels within the region. The global and regional sales teams coordinate efforts with the hotel sales teams. The in-house sales colleagues are focused on local and regional business opportunities, as well as securing business generated from our key global and regional accounts.
Our corporate sales organizations are focused on growing market share with key accounts, identifying new business opportunities, and maximizing our local customer base. Our key accounts consist of major corporations; national, state, and regional associations; specialty market accounts (social, government, military, educational, religious, and fraternal); travel agency and luxury organizations; and a broad and diverse group of individual consumers. Our global and regional sales teams target multiple brands to key customer accounts within these groups. No single customer is material to our business. Our global and regional teams consist of over 125 colleagues at global and regional sales offices around the world, who are focused on group business, corporate and leisure traveler accounts, and travel agencies.
Sales colleagues at our regional offices and at many of our full service hotels use our proprietary sales tool to manage the group rooms forecast, maintain an inventory of definite and tentative group rooms booked each day, streamline the process of checking guest room availability and rate quotes, and determine meeting room availability.
We seek to maximize revenues in each hotel we operate through a team of revenue management professionals and also provide revenue management services to franchisees upon request. Our revenue management leaders use a proprietary technology tool to help set appropriate pricing in each hotel. The goal of revenue management is to secure the right customers, on the right date, at the right price. Business opportunities are reviewed and agreed upon by the hotel's management team.