CHICAGO— A series of high-level management changes at Hyatt Hotels Corp. has signaled the next step in the company’s strategy to build a “pure play” hospitality platform designed to help facilitate future growth efforts for the Hyatt chain of hotels. As part of its Global Hyatt initiative, the moves are specifically aimed at improving coordination of Hyatt’s U.S. and international hotel management and real estate activities. As such, Doug Geoga was appointed president of both Hyatt Corp., the parent of Hyatt Hotels Corp., and AIC Holding Co., the parent of Hyatt International Corp. Geoga, who previously was president of Hyatt Hotels Corp.— from 1994 to 1999— most recently served as president of the Hospitality Investment Fund LLC, also wholly-owned by Pritzker family business interests. In his new role, Geoga will be responsible for the direction of the Global Hyatt initiative, and will report to Tom Pritzker, chairman/CEO of Hyatt Corp. and AIC Holding. Nick Pritzker, vice chairman of Hyatt Corp. and AIC Holdings and chairman of Hyatt’s executive committee, will also be involved in supervising the Global Hyatt Initiative, as well as continuing his involvement in global development projects. Other executive movements in the areas of development, finance and business systems were made as part of the reorganization, which underscore the integration of Hyatt Corp. and AIC Holding. All of those named in the new appointments will now report to Geoga. Scott Miller, who served as president of Hyatt Hotels Corp. since 2000, was named to the position of vice chairman of Hyatt Hotels Corp., where he will act as an advisor to the Global Hyatt Program. Edward Rabin, former executive vp/COO of Hyatt Hotels Corp., was named president of Hyatt Hotels Corp. Bernd Chorengel will continue to serve as president of Hyatt International Corp. and a member of the board of directors of Hyatt International Corp. He will also become a member of the board of directors of Hyatt Hotels Corp. Familiar personnel was called on for the development division, where Steven Goldman, formerly executive vp for Starwood Hotels & Resorts, was appointed evp/development and acquisitions of the parent companies of both Hyatt Hotels and Hyatt International. Goldman was previously employed by Hyatt Development Corp. from 1986 to 1990. Thomas O’Toole was named senior vp/strategy and systems of the parent companies of Hyatt Hotels and Hyatt International, where he will direct the information technology, distribution strategy and related functions of both companies. O’Toole was previously svp/marketing and information technology of Hyatt Hotels. Further, Kirk Rose was named senior vp/finance of the parent companies of Hyatt Hotels and Hyatt International, where he will oversee the finance and accounting functions of both companies. Rose previously served as svp/finance of Hyatt Hotels. According to Geoga, Hyatt’s reorganization will “provide us with a strong level of consistency in product and service on a global basis, but without homogenizing the cultural identities of the two companies.” The changes are also part of an overall movement that will allow Hyatt to “form a pure play holding company in which the various Pritzker business interests will come to be owned together, and the non-hospitality businesses to be taken out,” he said. These moves are expected to better position Hyatt to execute its expansion plans by eventually creating a pure lodging entity that investors can understand, giving the company the ability to raise debt or equity in either the public or private markets, according to Hyatt executives. In addition, it will make it easier for the 11 Pritzker cousins to divide their empire among them, if, and when, necessary. Aggressive expansion is on tap for Hyatt Hotels, according to the new president, who has been quoted as saying the chain may double in size over the next several years, mainly through acquisitions. However, Geoga
