Industry Update
Press Release12 May 2020

Statement on Corporate Layoffs at Hyatt

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Global Hyatt Corporation

Due to the historic drop in travel demand and the expected slow pace of recovery, Hyatt has made the extremely difficult decision to implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020. These actions will impact around 1,300 colleagues around the world.

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Since the start of the COVID-19 pandemic, Hyatt has taken numerous actions in an effort to meet the challenges our industry is facing including reductions of company-wide expenditures, extended salary reductions for the Senior Leadership Team and Board of Directors, and temporary work and/or pay reductions for all corporate colleagues. Unfortunately, with increased visibility into the effect that the pandemic is having on the hospitality industry, it has become apparent that additional measures are necessary to meet this unprecedented challenge.

"COVID-19 has thrown our industry into unknown territory," said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. "While parting ways with our colleagues is excruciating, we must be sensitive to commercial realities so we can continue to fulfill our purpose of care over the long term - through this pandemic and for what lies beyond. Our goal is to emerge from this crisis with strength, and ultimately position our business and our world-class teams for when the hospitality industry rebounds and when our guests and customers once again choose Hyatt."

Laid off Hyatt colleagues will be eligible to receive severance pay, outplacement services, and benefits commensurate with their years of service. Colleagues experiencing pressing financial hardships may also seek financial support from the Hyatt Care Fund.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 20 premier brands. As of March 31, 2020, the Company's portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, 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™, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.

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Franziska Weber
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