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The California Franchise Tax Board completed an audit in 1993 of Hyatt's tax returns, and determined that Hyatt's primary residence was actually California in 1991 and 1992; the FTB assessed Hyatt $13.3 million in back taxes and fraud penalties. [17] Hyatt filed a protest but after 11 years of administrative proceedings, it was upheld.
Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties.
In 1995, Jay Pritzker, the co-founder of Hyatt, [clarification needed] stepped down and Thomas Pritzker took control of The Pritzker Organization. [4] When Jay died in 1999, the family split the business into 11 pieces worth $1.4 billion each [4] (choosing to settle a lawsuit from two family members, who apparently received $500 million each in 2005).
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Hyatt Regency is a brand of hotels under the Hyatt banner. The brand contains 211 locations in 189 cities over 40 countries, [ 1 ] [ 2 ] and is one of the company's 14 hotel brands overall. [ 2 ] It tends to cater to business travelers.
Thomas Pritzker (born June 6, 1950) is an American billionaire heir and businessman. A member of the Pritzker family, he is the chairman and chief executive officer (CEO) of the Pritzker Organization (TPO), which manages the various Pritzker family business assets.
Hyatt House or The Hyatt House may refer to: . Hyatt House, the name of a chain of extended stay hotels from Hyatt (formerly Hyatt Summerfield Suites and Hotel Sierra); Hyatt House, the world's first fly-in (airport) hotel, in Los Angeles, California, conceptualized and built by Jack D. Crouch, basis for the Hyatt hotel chain.