Mission Statement: Our mission is to provide authentic hospitality by making a difference in the lives of the people we touch every day, including our associates, guests and owners.
Executive Chairman: Thomas J. Pritzker
President and Chief Executive Officer: Mark S. Hoplamazian
As of December 31,
2010 2009 2008 2007 2006
Consolidated balance sheet data:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,110 $1,327 $ 428 $ 409 $ 801
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,165 2,009 1,081 1,089 1,527
Property and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,453 3,585 3,471 3,494 2,743
Intangibles, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 280 284 256 359 154
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,243 7,155 6,119 6,248 5,522
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 596 495 653 697 1,001
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 714 840 1,209 1,288 173
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 802 780 665 794 588
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,112 2,115 2,527 2,779 1,762
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,118 5,016 3,564 3,434 3,731
Total liabilities and equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,243 $7,155 $6,119 $6,248 $5,522
Our Business Strategy
Our goal is to be the most preferred brand in each customer segment that we serve for our associates, guests and owners. In order to achieve this goal, we enhance brand preference by understanding who our customers are and by focusing on what they need and want and how we can deliver value to them. This understanding and focus informs our strategy for improving the performance of our existing hotels and expanding the presence of the Hyatt brand in markets worldwide.
• Focus on Improvement in the Performance of Existing Hotels
A key component of our strategy is to maximize revenues and manage costs at existing hotel properties. We strive to enhance revenues by focusing on increasing our share of hotel stays by our existing guests and increasing the number of new guests we serve on a regular basis, with the ultimate goal of establishing and increasing guest loyalty to our brands. We manage costs by setting performance goals for our hotel management teams, basing a portion of hotel management team compensation on whether performance goals are met, and granting our general managers operational autonomy. Managing costs is one way to improve hotel performance, and we believe that providing incentives to general managers to improve hotel performance leads to improved efficiency in ways appropriate for their respective properties. We support these efforts by assisting them with tools and analytics provided by our regional and corporate offices and by compensating our hotel management teams based on property performance. oIncrease Share of Hotel Stays. We intend to expand Hyatt’s share of hotel stays by continuously striving to provide genuine guest service and delivering value to our guests. Our existing customer base is diverse with different needs and preferences. We aim to provide differentiated service and product offerings targeted at each customer segment within each of our brands, such as meeting planners and convention guests, leisure guests and business
