Category: 3. Business

CHICAGO, IL (November 5, 2025) – Hyatt Hotels Corporation (the “Company”) (NYSE: H) today announced an expanded agreement with Chase (NYSE: JPM), building on the successful collaboration between Hyatt and Chase that rewards World of Hyatt cardmembers for stays across Hyatt’s global portfolio.

World of Hyatt remains the fastest-growing loyalty program in the global hospitality industry with more than 60 million members, growing at a rate of nearly 30% annually since 2017. Through its continued emphasis on member choice and recognition, World of Hyatt is one of the most valuable hospitality loyalty programs, with more than 40% more members per hotel compared to the next closest competitor. The result is highly engaged members who spend more, stay more, and book through direct channels more frequently than non-members.

“Our expanded agreement with Chase marks an exciting next chapter in how we grow, reward, and engage with our most loyal travelers,” said Mark Vondrasek, Chief Commercial Officer, Hyatt. “By deepening our collaboration, we’re creating more ways for Chase cardmembers to experience Hyatt’s global portfolio and for World of Hyatt members to be recognized beyond their stays – driving meaningful value for our guests, our owners, and our brands.”

Hyatt expects a significant increase in economics following the expanded agreement with Chase, driven by the expanded collaboration, the continued growth of World of Hyatt membership, the strength of Hyatt’s global portfolio of premium brands serving travelers with high disposable incomes, and Hyatt’s robust hotel room pipeline in sought-after destinations. The expanded collaboration is expected to drive additional stays to Hyatt properties from other Chase cardmembers via Chase Travel and Chase Ultimate Rewards. World of Hyatt Explorist status will be added as a benefit for top spending Chase Sapphire Reserve and Sapphire Reserve for Business cardmembers beginning in the middle of 2026. Hyatt will also continue to increase the number of luxury and premium brands, such as Park Hyatt and Alila, participating in The Edit by Chase Travel.

“We are proud to deepen our over 15-year relationship with Hyatt, expanding our collaboration across not only co-brand, but also our branded cards and Chase Travel,” said Allison Beer, Chief Executive Officer of Card & Connected Commerce, Chase. “The participation from Hyatt in our luxury hotel program, The Edit, and offering loyalty status to Sapphire Reserve cardmembers allows us to deliver even greater value and flexibility to our mutual customers when they stay at world-class Hyatt properties.”

The impact to adjusted EBITDA recognized by Hyatt related to the economics of the credit card programs and similar third-party relationships is expected to be approximately $50 million in 2025 and more than double to approximately $105 million in 2027, with anticipated continued growth in future years. Hyatt will receive upfront pre-tax cash totaling $47 million in the fourth quarter of 2025, which will be recognized within franchise and other fees over the life of the agreement. Additional financial details can be referenced at the end of this press release.

World of Hyatt credit cards provide cardmembers with more opportunities to earn and redeem at nearly 1,500 hotels and all-inclusive properties in the Hyatt portfolio and over 1,200 Mr & Mrs Smith properties around the world. World of Hyatt stands apart from other hospitality loyalty programs with clear, reliable value – offering cardmembers exceptional redemption benefits including a fixed award chart and choice in milestone rewards.

Additionally, Hyatt plans to expand its card portfolio as Hyatt and Chase continue to grow their relationship, building on the success of its current co-branded credit cards – the World of Hyatt Credit Card and the World of Hyatt Business Credit Card. The World of Hyatt credit card portfolio has experienced incredible growth with over 30% increase in card spend and over 25% increase in total cardmembers over the last two years. World of Hyatt cardmember benefits include:

World of Hyatt Credit Card & Business Card:

• Up to 9 total points per $1 spent at Hyatt hotels (4 Bonus Points per $1 spent on qualifying purchases, plus 5 Base Points per eligible $1 spent for being a World of Hyatt member)
• 2 Bonus Points per $1 spent on fitness club and gym memberships
• 1 Bonus Point per $1 spent on all other purchases
• Complimentary World of Hyatt Discoverist status

World of Hyatt Credit Card

• 2 Bonus Points per $1 spent on local transit and commuting, dining, airline tickets purchased directly from the airlines
• 1 free night award each year after your cardmember anniversary at any Category 1-4 Hyatt hotel worldwide and a second free night after you spend $15,000 on purchases in a calendar year

World of Hyatt Business Card

• 2 Bonus Points per $1 spent in your top three categories each quarter. Eligible categories are dining, shipping, airline tickets when purchased directly with the airline, local transit & commuting, social media & search engine advertising, car rental agencies, gas stations, internet, cable & phone services
• Earn up to $100 in Hyatt credits each anniversary year. Spend $50 or more at any Hyatt property and earn $50 statement credits up to two times each anniversary year

To learn more about the World of Hyatt credit cards, please visit: https://world.hyatt.com/content/gp/en/rewards/hyatt-credit-card.html.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

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 June 30, 2025, the Company’s portfolio included more than 1,450 hotels and all-inclusive properties in 80 countries across six continents. The Company’s offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid® Hotels & Resorts, Sunscape® Resorts & Spas, Alua Hotels & Resorts®, and Bahia Principe Hotels & Resorts; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Unscripted by Hyatt, Hyatt Place®, Hyatt House®, Hyatt Studios®, Hyatt Select, and UrCove. 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.

About World of Hyatt

World of Hyatt is Hyatt’s award-winning guest loyalty program uniting participating locations in Hyatt’s Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Sunscape® Resorts & Spas, and Alua Hotels & Resorts®; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove. Members who book directly through Hyatt channels can enjoy personalized care and access to distinct benefits including Guest of Honor, confirmed suite upgrades at time of booking, diverse wellbeing offerings, digital key, and exclusive member rates. World of Hyatt offers a variety of ways to earn and redeem points for hotel stays, dining and spa services, wellbeing focused experiences through the FIND platform; as well as the benefits of Hyatt’s strategic loyalty collaboration with American Airlines AAdvantage®. Travelers can enroll for free at hyatt.com, download the World of Hyatt app for android and IOS devices and connect with World of Hyatt on Facebook, Instagram, TikTok and X.

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.  These statements include statements about the Company’s anticipated benefits from its expanded collaboration with Chase, planned credit card portfolio expansion, expected Adjusted EBITDA growth related to the economics of the credit card programs and other third-party relationships, plans, strategies, and financial performance, and prospective or future events and involve known and unknown risks that are difficult to predict.  As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. 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 by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the effects that the announcement or pendency of the planned disposition of Playa’s owned real estate may have on us, the occurrence of any event, change or other circumstance that could give rise to the termination of the share purchase agreement for the disposition; the effects that any termination of the share purchase agreement for the disposition may have on us or our business; failure to successfully complete the planned disposition of Playa’s owned real estate; legal proceedings that may be instituted related to the planned disposition; significant and unexpected costs, charges or expenses related to the planned disposition of Playa’s owned real estate; inability to obtain regulatory or governmental approvals in connection with the planned disposition of Playa’s owned real estate or to obtain such approvals on satisfactory conditions, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; the impact of global tariff policies or regulations; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as hurricanes, earthquakes, tsunamis, tornadoes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve specified levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations or realize anticipated synergies; failure to successfully complete proposed transactions, including the failure to satisfy closing conditions or obtain required approvals; our ability to successfully complete dispositions of certain of our owned real estate assets within targeted timeframes and at expected values; our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotel services agreements or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and manage the Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements.  We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Estimated Financial Impact

Recognized by Hyatt related to the economics of the credit card programs and similar third-party relationships

(in millions)

¹As of the effective date of the amendment, the credit card programs are now part of our World of Hyatt loyalty program and as a result, amounts previously recognized within other revenues, other direct costs, and Adjusted G&A expenses, along with expected future benefits related to the expansion of the programs, will be recognized within revenues for reimbursed costs and reimbursed costs on our condensed consolidated statements of income (loss). License fee revenues will continue to be recognized within franchise and other fees within gross fees.

²Represents Adjusted EBITDA recognized by Hyatt related to the economics of the credit card programs and similar third-party relationships. The Company has not included a reconciliation of net income (loss) to Adjusted EBITDA related to the credit card programs as the adjustments are either not applicable or items that the Company cannot forecast with sufficient accuracy and without unreasonable efforts.  For a reconciliation of consolidated net income attributable to Hyatt Hotels Corporation to Adjusted EBITDA, please refer to the “Financials” section of the Company’s Investor Relations website.

The Company’s estimates are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that Hyatt will achieve these results.

Investor Contacts:

Adam Rohman, adam.rohman@hyatt.com

Ryan Nuckols, ryan.nuckols@hyatt.com

Media Contact:

Steve Snart, steve.snart@hyatt.com

JPMorganChase today celebrated a major milestone in its more than 90 years doing business in Detroit, announcing that its business and philanthropic investments in the city have surpassed $2 billion since 2014. Marking a new chapter in its commitment to Detroit, the firm also unveiled plans for a state-of-the-art downtown office and conference center at Hudson’s Detroit, designed to foster collaboration, innovation and community engagement. These investments underscore JPMorganChase’s continued support for the city’s resurgence.

“Today, JPMorganChase celebrates more than a decade of impact in Detroit, surpassing $2 billion in investments that will help fuel the city’s future,” said JPMorganChase Chairman and CEO Jamie Dimon. “From revitalized neighborhoods to thriving small businesses, Detroit’s transformation is a story of resilience. It is also a story of what’s possible when the business, government and community come together to test new ideas that create growth. Detroit has become a model for how JPMorganChase invests in communities around the world. We are proud to have played a role in the city’s revitalization, and we look forward to continuing our commitment with our new downtown office.”

“One of the first phone calls I received as Mayor of Detroit was from Jamie Dimon. To think that initial call helped spur $2 billion supporting our people and companies is pretty incredible,” said Detroit Mayor Mike Duggan.“Working together, we’ve shown that businesses and government can drive real change. Detroit’s future is bright, and the transformational investments made by JPMorganChase have played a huge role in the city’s turnaround.”

“Over ten years ago, JPMorgan Chase believed in Detroit’s potential and invested in our future,” said Mayor-Elect Mary Sheffield. “Today, as that investment deepens, it reaffirms what we already know; that the Motor City is on the move. I look forward to building on this momentum and ensuring companies across the country see Detroit as the best place to grow and thrive.”

A new chapter: Downtown Detroit office

Building on more than 90 years of doing business in Detroit, JPMorganChase is relocating to a new, state-of-the-art office in the heart of downtown at Hudson’s Detroit. Scheduled for completion in 2026, the new office will serve as a space for collaboration, innovation and community partnerships. It will feature modern workspaces with cutting-edge advanced technologies, dedicated communal areas and flexible meeting spaces. The new office will also include a conference center for client events and meetings as well as space to host community events, financial education workshops, career development programs and networking events.

In addition to its Class A office space, Hudson’s Detroit, a 1.5 million square foot mixed-use development by Bedrock, brings together destination retail—such as ALO and Tecovas—a premier event venue at The Department at Hudson’s, the Midwest’s first EDITION hotel and residences, and the Detroit debut of Danny Meyer’s Union Square Hospitality Group (USHG). The development includes a new public plaza, Nick Gilbert Way, which features seasonal programming and Un Deux Trois, a French-inspired café truck.

“Hudson’s Detroit proudly welcomes JPMorganChase as one of our newest tenants,” said Bedrock Senior Vice President of Leasing Naumann Idrees. “Hudson’s not only embodies the history of Detroit, it’s a symbol of the community and the momentum underway across the region. The iconic workplace and exceptional amenities bring a new experience to the market, including onsite meeting and event space, a lounge and fitness center and its prime location on Woodward Avenue, attracting a strong mix of local, national and global companies.”

$2 billion in Detroit: A decade of impact

JPMorganChase’s more than $2 billion in investments in Detroit since 2014, which include a combination of credit, loans and philanthropic capital, have helped drive progress across five key areas detailed below. This excludes tens of billions in financing to corporations headquartered in Detroit, including major automakers.

Real estate, employees and local services

• Invested $73 million in local real estate purchases and redevelopment and local services, including the construction of the Corktown Community Center branch, development of new office space at Hudson’s and purchases from local suppliers.
• Sent more than 185 employees from 15 countries to Detroit as part of the firm’s Service Corps, a skills-based volunteer program that taps the talent and expertise of JPMorganChase’s global workforce to help local nonprofits address challenges and support the execution of the city’s strategic plans.

Business growth and entrepreneurship

• Deployed $568 million in lending and credit to local small businesses.

• Provided more than $37 million in philanthropic investments to more than 30 nonprofits, helping Detroit small businesses access the capital, customers, connections and resources needed to grow and succeed.

• Supported over 360 small businesses through the Detroit-area Coaching for Impact 1:1 consulting and executive coaching program.

Housing and neighborhood development

• Deployed $1.1 billion in home loans to help Detroiters purchase, refinance and renovate their homes.

• Invested $158 million to support the creation of over 3,800 affordable housing units.

• Deployed $77.5 million to critical Community Development Financial Institutions (CDFIs) including Invest Detroit, Detroit Neighborhoods Fund (managed by Capital Impact Partners) and the Detroit Housing for the Future Fund (managed by LISC Fund Management) to support local development, increased housing supply, entrepreneurship and job creation.

• Provided $104 million in New Market Tax Credits and Historic Tax Credits to support educational institutions, infrastructure projects, manufacturing factories, community facilities and retail stores, including:
  • $1.97 million to acquire and rehabilitate Detroit Prep, a previously vacant school, which now serves up to 430 students.
  • $2.5 million for the McClellan Early Childhood Education Center, which provides quality, accessible early childhood education services for low-income families.
  • $13.6 million to develop and operate the QLINE, a 3.3-mile light rail system in the heart of Detroit.
  • More than $2 million to support the expansion of Goodwill’s Green Works recycling facility.
  • $3.2 million to convert the historic Cadillac Motor Car Company Assembly Plant into a modern apartment building with 90 units.
  • $4.7 million to modernize Eastern Market.

• Supported over 1,000 jobs through tax credits and infrastructure investments.

• Delivered $162 million in community development banking loans, strengthening neighborhoods and improving access to essential services and housing for people with developmental and intellectual disabilities, as well as families experiencing homelessness and poverty.

• Provided nearly $48 million in philanthropic investments to more than 25 nonprofits to support neighborhood improvements through commercial corridor revitalization, catalytic park investments, streetscape improvements and housing stabilization, including removing blighted homes and building affordable housing in several Detroit neighborhoods.

Careers & skills

• Launched the company’s first virtual call center in Detroit, training and hiring over 100 Detroiters to serve as Chase customer service specialists who handle more than 1 million customer service calls each year. Since launching in Detroit, the firm has expanded its virtual call center model, including to Baltimore and Atlanta.

• Provided more than $32.3 million in philanthropic investments to 39 nonprofits to help build a comprehensive and data-driven understanding of the city’s workforce challenges, align local job training programs with high-demand industries and place thousands of Detroiters in apprenticeships or full or part-time jobs.

Financial health

• Opened the Corktown Community Center branch, which has become a hub for financial health, career support and small business engagement.

• Hosted more than 150 financial health events at the Corktown Community Center branch, reaching nearly 3,000 attendees.

• Provided nearly $16 million in philanthropic investments to more than 20 nonprofits, offering innovative tools and solutions to help Detroiters build financial stability, resilience, and lasting wealth.

As Detroit’s economy has grown, so too has the firm’s local business. Since 2018, the firm increased the number of small businesses it serves by more than 50%. Between 2014 and 2024, deposits in Detroit increased by more than 45%, and revenue value in Wayne County increased by 15% between 2022 and 2024.

About JPMorganChase

JPMorganChase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.6 trillion in assets and $357 billion in stockholders’ equity as of June 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorganChase & Co. is available at www.JPMorganChase.com.