- US Firms Hit by Payroll Taxes at Exactly the Wrong Time
- Citi Mortgage Reveals Something the US Treasury Won't
- Fed Sanguine About US Recovery, Worried on Jobs
- Amended Berkshire Filing Reveals No 'Secret' Holdings
- In Time for Holidays: More Gloom and Doom on Economy
- Turkey Day 101: How Well Do You Know Your Bird?
- Privately Held Facebook Creates Dual-Class Stock
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Citi Mortgage Reveals What Treasury Won't
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Facebook's Biggest-Ever Holiday Shopping Season
- Facebook's New Dual Class Structure - Slow Steps to an IPO
- 5 Big Bank Stocks Investors Should Consider: Strategists
- Gambling Drunk, Texting to Live And America's On Sale - Your Emails
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- CNBC Anchor Takes a Sabbatical
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Privately Held Facebook Creates Dual-Class Stock
- NBA D-League On The Rise
- 10 Holiday Cocktail Recipes from Top Mixologists
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- On Twitter, Beware False Prophets
- Buyers Look For Bargains At Luxury Condo Auction
- Just In Time for Holidays: More Gloom and Doom on Economy
Text Size 
NEW YORK, Nov 4 (Reuters) - Hyatt Hotels priced its initial public offering of 38 million shares at $25 per share on Wednesday, within its expected range. Hyatt shares will start trading on Thursday under the ticker "H" on the New York Stock Exchange. Chicago-based Hyatt had said it would sell its shares for between $23 and $26 each. The proceeds of the $950 million IPO would go to the Pritzker family, which controls the company. If the IPO's underwriters, led by Goldman Sachs, along with Deutsche Bank Securities and J.P. Morgan Securities, choose to exercise an option to buy another 5.7 million shares, those proceeds will go to Hyatt. Hyatt's revenue for the first half of 2009 declined 18.5 percent from a year earlier, reflecting sluggish demand for hotels, especially from the corporate sector. Two of Hyatt's rivals -- Marriott International and Starwood Hotels & Resorts -- have forecast declines in revenue per available room of as much as 5 percent in 2010, suggesting that the U.S. hotel industry will not quickly rebound from the current recession. (Reporting by Deepa Seetharaman; Editing by Steve Orlofsky) ((deepa.seetharaman@thomsonreuters.com; +1 646 223-6125; Reuters Messaging: deepa.seetharaman.reuters.com@reuters.nning Keywords: HYATTHOTELS/PRICING COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Print
Email
- Remember when auto shows were major events where new models could generate buzz?
- CNBC’s Mike Huckman visits a cutting-edge plant to see how the flu vaccine of the future is being made.
- People who bottle up their anger at work are up to five times more likely to suffer a heart attack, a study found.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes