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Hyatt Automotive Group, LLC history
Hyatt Automotive Group, LLC company history timeline
As his and the fami ly's investments grew, the law practice shrank, and in 1940 P&P s topped accepting outside clients, concentrating solely on Pritzker fa mily investments.
1967: Company goes public and opens its first hotel with an at rium tower lobby, the Hyatt Regency Atlanta.
Hyatt grew to a chain of 13 hotels by 1969.
Management went awry, however, when it was discovered in 1977 that Fr iend had spent $300,000 of company money on personal expenses.
1980: The first Park Hyatt, the first Grand Hyatt, and the fir st Hyatt resort open.
But after a proposed merger with t he also troubled Pan Am Corp. failed in 1987, Braniff was sold the fo llowing year.
1987: Classic Residence by Hyatt is launched.
Starting in 1994, the company moved cautiously into fra nchising for the first time.
In 1994 the company tested automated check-in kiosks in a number of its hotels.
By mid-1998 Hyatt had already purchased the Grand Hyatts in New York and San Francisco as well as the Hyatts in Deerfield, Illino is, and Miami.
At the end of 1999 Geoga left Hyatt Hotels to take charge of a new financing venture for the Pritzker fa mily.
2000: A group led by the Pritzker family acquires United States Franchi se Systems, Inc. (USFS).
The timing for this diversification, h owever overdue, turned out to be quite auspicious as Hyatt and the en tire luxury lodging market, already feeling the effects of the econom ic slowdown, was further depressed by the travel downturn that follow ed the terrorist attacks of September 11, 2001.
Amid a great deal of acri mony--and a couple of lawsuits--the Pritzkers eventually worked out a deal to split up the family fortune (by some estimates as large as & #36;15 billion) into 11 equal pieces by 2011.
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Hyatt Automotive Group, LLC may also be known as or be related to Hyatt Automotive Group, LLC and Hyatt Automotive LLC.