The P/V Podcast
Episode 20 / February 2022
Ross and Mark begin by discussing the global optimization of Hyatt as a brand under Mark’s leadership [2:06-5:13]. Next, Mark reviews his progress in increasing Hyatt’s global brand presence, while also transitioning to a more asset light strategy [5:14-8:57] and discusses why Hyatt has been able to perform head-to-head with the industry’s largest brands to build a superior long-term growth pipeline [8:58-12:10]. They then shift to discuss the impact of COVID on the hospitality industry – when Mark felt that consumers would begin to travel again [12:11-14:36], his views on when business and group travel will come back [14:37-18:50] and the innovation and efficiencies that the last few years have inspired at Hyatt and in the industry more broadly [18:51-26:13]. Next, they discuss the expansion of Hyatt’s resorts portfolio with the ALG deal [26:14-31:04] and how Mark prioritizes buying vs. building into new locations [31:05-34:50] and how different of a skill selling at the right price is to expanding [34:51-38:35]. Mark then covers the evolving impact of home-sharing on the hospitality industry and why it is not an existential threat for hotel companies [38:36-42:24]. Next, Mark talks about Hyatt’s purpose of “caring for people so they can do their best” and how he has prioritized wellbeing [42:25-47:56]. He discusses Hyatt’s commitment to diversity, equity and inclusion and details the DEI initiatives the company has undertaken, as well as Hyatt’s – and Mark’s personal – focus on giving back [47:58-55:14]. Mark then talks about his history of working with the Pritzker family and the family’s involvement at Hyatt today [55:15-57:53] and discusses his thoughts on capital allocation and specifically share repurchase [57:54-1:01:19]. Finally, he ends with a few personal recommendations on Hyatt properties to visit this year [1:01:20-1:04:05].