Hyatt ready to book $8bn float

13 April 2012

THE Hyatt hotel chain looks set to exploit the recovery in global tourism by forging ahead with a Wall Street listing.

Analysts believe the chain, the prized jewel of Chicago's feuding Pritzker family, is being groomed for an initial public offering of shares within the next six months.

The move follows a major reorganisation last year that brought its US and international operations under one umbrella.

The hotels chain, which owns or operates 212 hotels and resorts around the world, could be valued at between $5bn (£2.74bn) and $8bn.

The Pritzker family is keen to capitalise on the improving conditions for an IPO while also cashing in on the Hyatt brand, which would have strong appeal to investors.

A company document obtained by the Chicago Tribune has fuelled speculation after it revealed that the restructuring would ''improve the company's stance for an initial public offering of stock'.

A Hyatt spokesman said an IPO should not come as a surprise. 'It has been documented that this (restructure) could lead to a number of things, including an IPO, or a merger or acquisition,' he said.

Talk of an IPO first surfaced in December 2002 after the Pritzker family said it had reached a secret settlement to break up its $15bn (£8.2bn) empire and disperse-the proceeds among family members.

Taking the group public is seen as the only way to give dissident family members the added liquidity they have been promised, short of selling the company.

The group was touted as a possible bidder for Britain's Six Continents earlier this year.

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