CHICAGO (September 2, 2010) – Hyatt Hotels Corporation (NYSE: H) and Chase Card Services, a division of JPMorgan Chase & Co. [NYSE: JPM] today announced the launch of the first Hyatt Card, a simple and rewarding Visa credit card. The introduction of this co-branded credit card, through Hyatt subsidiary HyCard, Inc. and Chase Card Services, demonstrates the companies’ commitment to provide Hyatt guests with even more of the benefits and simple luxury they have come to expect.
After the first use of the credit card, members will receive, courtesy of Chase and Hyatt, two nights at any Hyatt anywhere in the world which are redeemable within one year. This benefit makes the Hyatt Card unique among hotel reward cards, which typically require the translation of award points into stays and have limitations on the properties where the points can be redeemed.
Hyatt and Chase spent almost a full year having direct and ongoing conversations with Hyatt guests who provided continuous feedback and input throughout the product development process. This candid feedback helped solidify a product that provides simple, yet generous, benefits and rewards, enhancing the cardmember experience and extending the delivery of the world’s most generous welcome to Hyatt’s loyal guests.
Key features of the Hyatt Card include:
“The Hyatt Card and its rewarding benefits serve as a great addition to the world’s most generous welcome from Hyatt,” said John Wallis, global head of marketing and brand strategy, Hyatt Hotels Corporation. “To further Hyatt’s mission of providing authentic hospitality, we have made significant enhancements and adjustments to our Hyatt Gold Passport loyalty program over the past two years to make it best-in-class. The Hyatt Card is another logical step in deepening relationships with our guests and welcoming new travelers into the fold.”
“Our objective, when working with Hyatt on this card, was to create a product that resonated with the Hyatt guest and provided a differentiated offering that aligned with Hyatt's brand”, said Val Greer, general manager, Chase Card Services. “Having the ability to simply and easily redeem rewards with no blackout dates or limits on available standard rooms, and no resort or internet fees, the card offers unparalleled opportunities to enjoy Hyatt properties worldwide.”
For more details regarding the Hyatt Card, please visit www.hyattcard.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family in 45 countries strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt Summerfield Suites® brand names and have locations under development on five continents. Hyatt Vacation Ownership, Inc., a Hyatt Hotels Corporation subsidiary, develops and operates vacation ownership properties under the Hyatt Vacation Club® brand. As of June 30, 2010, the Company’s worldwide portfolio consisted of 445 properties. For more information, please visit www.hyatt.com.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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 our plans, strategies, financial performance, prospects 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, among others, the depth and duration of the current economic downturn; levels of spending in the business, travel and leisure industries as well as consumer confidence; declines in occupancy and average daily rate; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisee and hospitality venture partners; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. We caution you not to place undue reliance on any forward-looking statements, which are made 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 laws. 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.
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For further information:
Hyatt Hotels & Resorts
+1 312 780 5935
Chase Card Services
+1 302 282 2553