World of Care annual reporting includes progress in advancing care for the planet, people and responsible business
CHICAGO–(BUSINESS WIRE)–Hyatt Hotels Corporation (NYSE: H) today published Hyatt’s 2022 World of Care Highlights and Diversity, Equity & Inclusion (DE&I) Report, spotlighting colleagues and hotels around the globe who are bringing Hyatt’s commitment to caring for the planet, people and responsible business to life across the communities it serves. Hyatt also announced progress across environmental and social impact initiatives, which include, for example, strengthening the engagement of hotels around renewable electricity opportunities and working with the Hyatt Hotels Foundation to empower survivors of human trafficking.
As the world evolves and new challenges emerge, Hyatt has advanced its global Environmental, Social and Governance (ESG) strategy through World of Care, which was derived by closely listening to what is most important to colleagues, guests, customers, hotel owners, investors and the communities in which Hyatt hotels operate around the world. Grounded in transparency and accountability, annual World of Care reporting enables Hyatt to share progress against 2030 environmental goals and 2025 Change Starts Here commitments across who the company employs, develops and advances; who we support; who we buy from and work with.
“Over the past 65+ years, care has been at the heart of everything we do at Hyatt, which is why caring for the planet, people and responsible business – the three pillars of World of Care – are so deeply embedded across our organization,” shared Margaret Egan, executive vice president, general counsel and executive sponsor of World of Care. “As we move forward on our journey to help preserve and support thriving destinations, now and in the future, we will continue to challenge ourselves to listen, learn and take action against the evolving needs and priorities of our stakeholders.”
Caring for the Planet: Advancing Environmental Action to Support Vibrant Destinations Around the World
From a pilot program to reduce food waste in Asia Pacific to engaging hotels on the use of renewable electricity in the United States and Europe, Hyatt teams across the globe are accelerating efforts toward Hyatt’s 2030 environmental goals – focused on areas of climate change and water conservation, waste and circularity, responsible sourcing and thriving destinations.
As part of the waste and circularity goals, seven Hyatt hotels in Asia Pacific conducted food waste prevention pilots in 2022, including Grand Hyatt Seoul in South Korea and Hyatt Regency Beijing Wangjing in China with additional Hyatt hotels planning to begin pilots later this year.
In support of taking action against climate change, Hyatt-owned hotels the United States adopted 100% renewable electricity through Green-e Energy certified Renewable Energy Certificates that match their electricity use – which on average will reduce their building emissions by more than 50% – and now offer carbon-neutral meetings and events. Hyatt is continuing to work with franchised property owners to assist their efforts toward increased use of renewable electricity. And later this year, Hyatt will work with Hyatt-managed full-service hotels in the Americas region to make it even easier for guests and members, customers and colleagues to identify Hyatt properties recognized for their environmental efforts through best-in-class environmental certifications. In particular, our hotels are prioritizing Green Key Global, Green Key F.E.E., Earth Check, and other certifications recognized by the Global Sustainable Tourism Council (GSTC).
Caring for People: Surpassing DE&I Goals and Expanding Support for Human Trafficking Survivors
Through multiple efforts, including Hyatt’s Change Starts Here commitments and RiseHY, a global program providing career pathways for young people, Hyatt’s DE&I strategy encompasses unique perspectives from colleagues, guests and members, customers and hotel owners to foster a true sense of belonging and bring Hyatt’s values to life.
“Through World of Care, Hyatt is prioritizing inclusive behaviors at all levels of our organization, and we are committed to ensuring that our DE&I practices are more than just words on a page,” said Malaika Myers, chief human resources officer, Hyatt. “It’s about putting empathy into action and building an organization whose leaders reflect the diverse communities in which Hyatt hotels operate around the world.”
In line with Hyatt’s commitment to report on workforce diversity data annually, Hyatt’s third-annual report shows increased levels of people of color leaders and managers in the U.S., with collective growth over 10% since 2020. And in line with Hyatt’s Change Starts Here commitments, specifically around who Hyatt employs, develops and advances, 360 women have been promoted to senior leadership roles globally since June 2020.
As part of progress toward who Hyatt buys from and works with, we continue to drive efforts to include Black, Latino, Asian, female and veteran suppliers into our supply chain opportunities. At the end of 2022, Black suppliers accounted for one-third of total diverse- and women-owned supplier spend, surpassing Hyatt’s 2025 Change Starts Here 10% goal. Hyatt also expanded its reach beyond existing supply chains and identified new avenues to work with diverse suppliers and support racial equity. In 2022, these efforts included building relationships with Black-owned businesses in a broad spectrum of industries, including banking, food and beverage, technology, operations and security, among others.
Hyatt also emphasized its global workforce diversity ambitions at the regional level by creating opportunities for colleagues across offices and properties. For example, the INSPIRIT Mentoring Program was created to embrace equity and empower female leadership growth and has successfully facilitated more than 170 mentor and mentee relationships across 18 countries in the Europe, Middle East & Africa region. Following successful mentor opportunities, colleagues in India took the initiative to create their own INSPIRIT chapter, which boasts more than 150 participants.
Hyatt’s purpose to care for people includes respecting human rights and promoting the wellbeing of the most vulnerable. Since helping to launch the American Hotel & Lodging Association Foundation’s No Room for Trafficking (NRFT) Survivor Fund in 2022 with a $500,000 USD contribution from the Hyatt Hotels Foundation, NRFT has announced its inaugural Survivor Fund grantees, including Safe House Project, Business Ending Slavery and Trafficking (BEST), Restore NYC and the University of Maryland’s SAFE Center, as detailed here. Additionally, Hyatt’s Chief Financial Officer Joan Bottarini, joined the NRFT Advisory Council as co-chair, shaping the hotel industry’s unified efforts to support human trafficking survivors with critical resources on their path toward empowerment and self-sufficiency.
Caring for Responsible Business: A New Focus on Working with Other Businesses
Hyatt affirmed its commitment to fulfill the company’s values through other organizations it does business with by adding a new focus area: Working with Other Businesses. This includes owner, operator and supplier engagement, a Supplier Code of Conduct and a supplier diversity program. Additionally, Hyatt is working with suppliers to engage EcoVadis, an organization that screens suppliers on criteria such as environment, labor and human rights, ethics and sustainable procurement.
The term “Hyatt” is used in this release 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 March 31, 2023, the Company’s portfolio included more than 1,250 hotels and all-inclusive properties in 75 countries across six continents. The Company’s offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
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. 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, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the 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 geo-political conditions, including political or civil unrest or changes in trade policy; 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 earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; the pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, including with respect to global and regional economic activity, travel limitations or bans, the demand for travel, transient and group business, and levels of consumer confidence; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; our ability to successfully achieve certain 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 property 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, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management 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, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and 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.
Megen DiSanto, [email protected]