The Hyatt story: How a packed LAX motel and a $2.2 million offer scribbled on a napkin spawned one of the world's biggest hotel empires
- In late January, Hyatt released a statement announcing the expected opening of 50 new hotels and resorts by the end of 2020 - and an additional 140 by 2022.
- The company is particularly focusing on growth within the luxury sector.
- Currently, the Hyatt has 20 brands, 875 properties, and 100,000 employees - and the founding family is one of the richest families in the world, with 11 total billionaires.
- The chain has been around for 62 years - the first Hyatt location was purchased on a whim by a businessman in 1957.
- Visit Business Insider's homepage for more stories.
Right now, there are over 200,000 Hyatt hotel rooms.
Those rooms span 20 brands and 875 properties and are supported by 100,000 employees worldwide - and there are about to be a whole lot more of them.
In late January, Hyatt Hotels Corporation announced the expected opening of more than 50 hotels in 2020 and 140 additional hotels by 2022. In December, Hyatt announced that 20 of those new hotels will specifically contribute to its luxury portfolio.
The Park Hyatt, the chain's first luxury brand, is celebrating its 40th anniversary this year. But the very first Hyatt was purchased over a decade prior to the founding of Park Hyatt, in 1957, when a well-to-do Chicago lawyer took a business trip to Los Angeles that resulted in him buying the hotel closest to the airport, mostly on a whim.
A spokesperson for the Hyatt didn't immediately respond to a request for comment from Business Insider.
Keep reading for a closer look at the history of the Hyatt hotel empire.