Since COVID-19 has entered our lives and been declared a global pandemic, we are facing an unprecedented time for our world, our economy and the hospitality industry, which is seeing significantly decreased demand globally.

Given the financial impact on our business, we have had to make difficult decisions that both support the safety and wellbeing of our colleagues and guests, and protect long-term prospects for Hyatt. These actions include suspending operations at some hotels, temporary furloughs, as well as pay and work reductions that will impact all Hyatt corporate colleagues across our global regions, across all levels and responsibilities, from April 1 through May 31.

With our colleagues' wellbeing in mind, we considered various options before arriving at the decision to furlough colleagues. By taking this action, Hyatt corporate colleagues' eligibility for healthcare and other benefits will not change, and colleagues may also file for unemployment benefits during this period. For colleagues on a Hyatt healthcare plan who have been furloughed, Hyatt is actively taking steps to protect and fund benefit coverage (including employee benefit premiums) for up to two months. Temporarily furloughed colleagues will be eligible for unemployment benefits and will be encouraged to use PTO days to cover pay during the furlough period.

We are also in the process of setting up a global Hyatt Care Fund, which will be seeded by 100 percent of Hyatt leadership team's salary reductions as an initial contribution. Both President & CEO Mark Hoplamazian and Chairman of the Board Tom Pritzker are forgoing 100 percent of their salaries, and Hyatt's Senior Leadership Team is taking a salary cut of 50 percent through the end of May. The proceeds of this fund will be distributed to those colleagues with the most pressing financial needs due to loss of income.

Our ultimate goal is to emerge in a position of strength coming out of this crisis, with our world-class teams as intact as possible across the global Hyatt family. It is only by the strength of our workforce that we can be ready when the hospitality industry rebounds, and when our guests and customers once again choose Hyatt.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2023, the Company's portfolio included more than 1,300 hotels and all-inclusive properties in 76 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Kiraku, Inc. or Hyatt's control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward-looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.

Franziska Weber
+1 312 780 6106
Hyatt