Obligation Hyatt Hospitality 5.375% ( US448579AD49 ) en USD

Hyatt Hospitality

100 % ▲

Etas-Unis

US448579AD49 ( en USD )

5.375% par an ( paiement semestriel )

14/08/2021 - Obligation échue

Prospectus brochure de l'obligation Hyatt Hotels US448579AD49 en USD 5.375%, échue

1 000 USD

250 000 000 USD

448579AD4

BBB- ( Qualité moyenne inférieure )

Baa3 ( Qualité moyenne inférieure )

Hyatt Hotels Corporation est une société hôtelière multinationale américaine qui possède et gère une vaste gamme d'hôtels et de centres de villégiature de luxe, haut de gamme et milieu de gamme sous diverses marques, dans le monde entier.

L'Obligation émise par Hyatt Hospitality ( Etas-Unis ) , en USD, avec le code ISIN US448579AD49, paye un coupon de 5.375% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/08/2021

L'Obligation émise par Hyatt Hospitality ( Etas-Unis ) , en USD, avec le code ISIN US448579AD49, a été notée Baa3 ( Qualité moyenne inférieure ) par l'agence de notation Moody's.

L'Obligation émise par Hyatt Hospitality ( Etas-Unis ) , en USD, avec le code ISIN US448579AD49, a été notée BBB- ( Qualité moyenne inférieure ) par l'agence de notation Standard & Poor's ( S&P ).

Prospectus Supplement
http://www.sec.gov/Archives/edgar/data/1468174/000119312511212386...
424B2 1 d424b2.htm PROSPECTUS SUPPLEMENT
Table of Contents
Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-176038

CALCULATION OF REGISTRATION FEE

Proposed
Proposed
Maximum
Maximum
Title of Each Class of
Amount to be
Offering Price
Aggregate
Amount of
Securities to be Registered

Registered

per Note

Offering Price
Registration Fee(1)
3.875% Senior Notes due 2016

$250,000,000
99.571%

$248,927,500
$28,900.48
5.375% Senior Notes due 2021

$250,000,000
99.846%

$249,615,000
$28,980.30
Total

$500,000,000
--

$498,542,500
$57,880.78

(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933, as amended. This "Calculation of Registration Fee"
table shall be deemed to update the "Calculation of Registration Fee" table in the Registrant's Registration Statement on
Form S-3 (File No. 333-176038).
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Prospectus Supplement
(To prospectus dated August 4, 2011)

We are offering $250,000,000 of our 3.875% senior notes due 2016 (the "2016 notes") and $250,000,000 of our
5.375% senior notes due 2021 (the "2021 notes" and, together with the 2016 notes, the "notes"). The 2016 notes wil
mature on August 15, 2016, and the 2021 notes wil mature on August 15, 2021.
We wil pay interest on the notes on February 15 and August 15 of each year, commencing February 15, 2012.
At any time prior to the date that is one month prior to the maturity of the 2016 notes and three months prior to the
maturity of the 2021 notes, as applicable, we may redeem some or all of the applicable notes at a price equal to 100%
of the principal amount of the notes redeemed plus accrued and unpaid interest plus a "make-whole" amount. At any
time on or after the date that is one month prior to the maturity of the 2016 notes and three months prior to the maturity
of the 2021 notes, as applicable, we may also redeem some or all of the applicable notes at a price equal to 100% of
the principal amount of the applicable notes redeemed plus accrued and unpaid interest. If we experience a change of
control triggering event, we must offer to purchase the notes. See "Description of the Notes."
The notes wil be our unsubordinated obligations and wil rank equally with all of our existing and future unsecured
unsubordinated debt.
We do not intend to apply for listing of the notes on any securities exchange or for inclusion of the notes in any
automated dealer quotation system. Currently, there is no public market for the notes.

Investing in the notes involves risks. See "Risk Factors" beginning on page S-6 of this prospectus supplement
for a discussion of certain risks that you should consider in connection with an investment in the notes.

Per 2016 Note
Total
Per 2021 Note
Total
Public offering price (1)

99.571%

$248,927,500
99.846%

$249,615,000
Underwriting discount and commissions

0.600%

$ 1,500,000
0.650%

$ 1,625,000
Proceeds, before expenses, to us

98.971%

$247,427,500
99.196%

$247,990,000
(1) Plus accrued interest from August 9, 2011, if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus
is truthful or complete. Any representation to the contrary is a criminal offense.
We expect that delivery of the notes wil be made to investors in book-entry form through The Depository
Trust Company, including direct and indirect participants Clearstream Banking, société anonyme, and Euroclear Banking,
S.A./N.V., on or about August 9, 2011.

Joint Book-Running Managers

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Co-Managers

Citigroup

HSBC

US Bancorp
August 4, 2011
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Table of Contents
Prospectus Supplement

About this Prospectus Supplement
S-i

Where You Can Find More Information
S-i

Information Incorporated by Reference
S-iii

Terms Used in this Prospectus Supplement
S-iii

Special Note Regarding Forward-Looking Statements
S-iv

Summary
S-1

The Offering
S-3

Risk Factors
S-6

Ratio of Earnings to Fixed Charges
S-9

Use of Proceeds
S-10
Capitalization
S-11
Description of the Notes
S-12
Book-Entry System; Delivery and Form
S-20
Material U.S. Federal Income Tax Considerations
S-23
Underwriting
S-28
Legal Matters
S-32
Experts
S-32
Prospectus

About this Prospectus
i

Terms Used in this Prospectus
i

Special Note Regarding Forward-Looking Statements
ii

The Company
1

Risk Factors
1

Use of Proceeds
1

Ratio of Earnings to Fixed Charges
2

Description of Debt Securities
2

Plan of Distribution
18
Validity of Securities
19
Experts
19
Where You Can Find More Information
19
Information Incorporated by Reference
20

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About this Prospectus Supplement
We provide information to you about this offering in two separate parts. The first part is this prospectus supplement,
which describes the specific details regarding this offering. The second part is the prospectus, which provides general
information about us and securities we may offer from time to time. Al of the information in this prospectus supplement
wil apply to this offering, but some of the general information in the accompanying prospectus does not apply to this
offering and wil be superseded by information in this prospectus supplement, as described below. General y, when we
refer to the "prospectus," we are referring to both parts combined.
We are also incorporating additional documents by reference into this prospectus supplement. See "Where You Can Find
More Information" and "Information Incorporated by Reference." You should read this prospectus supplement, the
accompanying prospectus and the documents incorporated by reference into this prospectus supplement and the
accompanying prospectus before deciding whether to invest in the notes offered by this prospectus supplement.
We are responsible for the information contained and incorporated by reference in this prospectus supplement,
the accompanying prospectus and any related free writing prospectus we prepare or authorize. We have not
authorized anyone to give you any other information, and we take no responsibility for any other information
that others may give you. We are not, and the underwriters are not, making an offer of these notes in any
jurisdiction where the offer or sale is not permitted. You should assume that the information contained and
incorporated by reference in this prospectus supplement, the accompanying prospectus and any free writing
prospectus with respect to this offering filed by us with the Securities and Exchange Commission (the "SEC")
is only accurate as of the respective dates of such documents. Our business, financial condition, results of
operations and prospects may have changed since those dates.
If the information set forth in this prospectus supplement varies in any way from the information set forth in the
accompanying prospectus, you should rely on the information contained in this prospectus supplement. If the information
set forth in this prospectus supplement varies in any way from the information set forth in a document we have
incorporated by reference, you should rely on the information in the more recent document.
You should not consider any information in this prospectus supplement or the accompanying prospectus to be
investment, legal or tax advice. You should consult your own counsel, accountants and other advisers for legal, tax,
business, financial and related advice regarding the purchase of any of the notes offered by this prospectus supplement.
Where You Can Find More Information
We are subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), and file annual, quarterly and current reports, proxy statements and other information with the SEC.
You may read and copy any reports, proxy statements and other information we file at the SEC's public reference room
at 100 F Street, N.E., Washington, D.C. 20549. Please cal the SEC at 1-800-SEC-0330 for further information on the
public reference room. You may also access filed documents at the SEC's website at www.sec.gov.
This prospectus supplement is part of a registration statement on Form S-3 that we have filed with the SEC under the
Securities Act of 1933, as amended (the "Securities Act"), and does not contain all of the information in such registration
statement. Whenever a reference is made in this prospectus

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supplement to a contract or other document of ours, the reference is only a summary and you should refer to the exhibits
that are a part of the registration statement for a copy of the contract or other document. You may read or obtain a copy
of the registration statement, including exhibits, from the SEC in the manner described above.
Information Incorporated by Reference
The SEC al ows us to "incorporate by reference" the information that we file with it, which means that we can disclose
important information to you by referring you to those documents instead of repeating such information in this prospectus
supplement. The information incorporated by reference is considered to be part of this prospectus supplement, and
information incorporated by reference that we file later with the SEC wil automatical y update and supersede this
information. We incorporate by reference the documents listed below and any future filings made with the SEC under
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act between the date of this prospectus supplement and the
termination of this offering; provided, however, that we are not incorporating any information deemed furnished and not
filed in accordance with SEC rules, including pursuant to Item 2.02 or Item 7.01 of any current report on Form 8-K:

our Annual Report on Form 10-K for the fiscal year ended December 31, 2010, filed with the SEC on
·

February 17, 2011 (including the portions of our definitive proxy statement for our 2011 annual meeting of
stockholders incorporated by reference therein);

our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2011, filed with the SEC on May 3,

·
2011, and June 30, 2011, filed with the SEC on August 2, 2011; and

our Current Reports on Form 8-K filed with the SEC on March 21, 2011, May 16, 2011, May 18, 2011, June 20,

·
2011 and July 14, 2011.
If the information set forth in this prospectus supplement varies in any way from the information set forth in a document
we have incorporated by reference, you should rely on the information in the more recent document. Information
contained in documents filed later with the SEC wil automatical y update and supersede information contained in
documents filed earlier with the SEC or contained in this prospectus supplement or the accompanying prospectus.
You may request a free copy of any of the documents incorporated by reference in this prospectus supplement by
writing to us or telephoning us at the address and telephone number set forth below.
Hyatt Hotels Corporation
Attn: Senior Vice President--Investor Relations
71 South Wacker Drive, 12th Floor
Chicago, Illinois 60606
(312) 750-1234
You may also access al of the documents above and incorporated by reference into this prospectus supplement free of
charge at our website www.hyatt.com. The reference to our website does not constitute incorporation by reference of
the information contained on such website.
Terms Used in this Prospectus Supplement
Unless we have indicated otherwise, or the context otherwise requires, references in this prospectus supplement and the
accompanying prospectus to the terms "we," "us," "our," "the Company" or "Hyatt" or other similar terms mean Hyatt
Hotels Corporation and its consolidated subsidiaries. However, in the "Description of the Notes" section of this
prospectus supplement, "we," "our," "us," "Hyatt" and the "Company" mean Hyatt Hotels Corporation only, and not any of
its consolidated subsidiaries, unless context otherwise requires or as otherwise expressly stated.

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As used in this prospectus supplement, the term:

"Properties" refers to hotels that we manage, franchise, own or lease and our residential and vacation

·
ownership units that we develop, sel and manage;

"Hyatt-branded" refers to properties operated under our brands, including Park Hyatt, Andaz, Grand Hyatt,

·
Hyatt Regency, Hyatt, Hyatt Place and Hyatt Summerfield Suites;

"Residential ownership units" refers to residential units that we manage, provide services to or license our
·

trademarks with respect to (such as serviced apartments and Hyatt-branded residential units), some of which
we own, that are part of mixed-use projects and are often adjacent to a Hyatt-branded ful service hotel;

"Vacation ownership units" refers to the fractional and timeshare units that we develop, sel or manage that are

·
part of the Hyatt Vacation Club, which is in the process of changing its name to Hyatt Residence Club; and

"Hospitality ventures" refers to entities in which we own less than a 100% equity interest.
·
As used in this prospectus, the term "associates" refers to the individuals working at our corporate and regional offices
and our managed, franchised and owned properties, some of whom we employ directly and some of whom are
employed by certain third-party owners and franchisees of our hotels.
Special Note Regarding Forward-Looking Statements
This prospectus supplement and the accompanying prospectus, including the information we incorporate by reference
herein or therein, contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and
Section 21E of the Exchange Act. These statements include statements about 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 material y 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," "wil ,"
"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. Important factors that may cause actual results to differ
material y from current expectations include, but are not limited to:

the factors discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2010, under
·
the sections titled "Risk Factors" in Part I, Item 1A and "Management's Discussion and Analysis of Financial

Condition and Results of Operations" in Part II, Item 7, and the factors discussed in our most recent Quarterly
Report on Form 10-Q, under the section titled "Risk Factors" in Part II, Item 1A;

the rate and the pace of economic recovery fol owing the recent economic downturn;
·

levels of spending in business and leisure segments as wel 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;
·

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natural or man-made disasters such as earthquakes, tsunamis, tornados, hurricanes, floods and oil spil s;
·

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 associates and labor unions and changes in labor law;
·

financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture

·
partners;

risks associated with potential acquisitions and dispositions, such as the pending acquisition of certain assets

·
from LodgeWorks, L.P. and its private equity partners, and the introduction of new brand concepts;

changes in federal, state, local or foreign tax law;
·

increases in interest rates and operating costs;
·

fluctuations in currency exchange rates;
·

lack of acceptance of new brands or innovation;
·

general volatility of the capital markets and our ability to access the capital markets;
·

changes in the competitive environment in our industry and the markets where we operate;
·

outcomes of legal proceedings; and
·

violations of regulations or laws related to our franchising business.
·
These factors and the other risk factors described or incorporated by reference in this prospectus supplement are not
necessarily al 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. Other unknown or unpredictable
factors also could harm our business, financial condition, results of operations or cash flows.
Al forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety
by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and
we do not undertake or assume any obligation to update publicly any of these 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 wil make additional updates with respect to those or other forward-looking statements.

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Summary
This summary highlights selected information about us and this offering. It does not contain all of the information
that you should consider before deciding whether to invest in the notes. You should also refer to the other
information in this prospectus supplement, the accompanying prospectus, any related free writing prospectus and
the documents that are incorporated by reference, especially the sections titled "Risk Factors" and the financial
statements included or incorporated by reference, before making an investment decision.
The Company
We are a global hospitality company with widely recognized, industry leading brands and a tradition of innovation
developed over our more than fifty-year history. Our mission is to provide authentic hospitality by making a difference
in the lives of the people we touch every day. We focus on this mission in pursuit of our goal of becoming the most
preferred brand in each customer segment that we serve for our associates, guests and owners. We support our
mission and goal by adhering to a set of core values that characterize our culture. We believe that our mission, goal
and values, together with the strength of our brands, strong capital and asset base and opportunities for expansion,
provide us with a platform for long-term value creation.
We manage, franchise, own and develop Hyatt-branded hotels, resorts and residential and vacation ownership
properties around the world. Our ful service hotels and resorts operate under five world-recognized brands, Park
Hyatt, Andaz, Grand Hyatt, Hyatt Regency and Hyatt. Our two select service brands are Hyatt Place and Hyatt
Summerfield Suites (an extended stay brand). We develop, sell or manage vacation ownership properties in select
locations as part of the Hyatt Vacation Club, which is in the process of changing its name to Hyatt Residence Club.
We also manage, provide services to or license our trademarks with respect to residential ownership units that are
often adjacent to a Hyatt-branded ful service hotel. We consult with third parties in the design and development of
such mixed-use projects based on our expertise as a manager and owner of vacation ownership properties,
residential properties and hotels. We primarily derive our revenues from hotel operations, management and franchise
fees, other revenues from managed properties and sales of vacation ownership properties.
Our principal executive offices are located at 71 South Wacker Drive, 12th Floor, Chicago, Il inois 60606. Our
telephone number is (312) 750-1234. Our website address is www.hyatt.com. The information on, or that may be
accessed through, our website is not a part of this prospectus supplement or any accompanying prospectus.
Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt Summerfield Suites®, Hyatt
Vacation Club®, Hyatt Residence ClubTM, Hyatt Gold Passport®, Hyatt ResortsTM and related trademarks, logos,
trade names and service marks appearing in this prospectus supplement are the property of Hyatt Corporation, a
wholly owned subsidiary of Hyatt Hotels Corporation. Al other trademarks, trade names or service marks appearing
in this prospectus supplement or any accompanying prospectus are the property of their respective owners.
Recent Developments
On July 13, 2011, through our subsidiary Hyatt Corporation, we entered into a purchase agreement with
LodgeWorks, L.P. and its private equity partners ("LodgeWorks") pursuant to which we agreed to acquire 24 hotels
and certain additional assets from LodgeWorks for approximately $802 mil ion in cash.

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The completion of the acquisition is subject to customary closing conditions. We also have the right to terminate the
purchase agreement, in our sole discretion, during a 75-day inspection period commencing on July 13, 2011. We
expect to complete the acquisition of al relevant assets during the third quarter of 2011, although the purchases of
certain assets may close at later dates, subject to certain conditions. However, we cannot assure you that any
acquisitions will close, or if they do, when such closings will occur.
In addition to our proposed acquisition of these assets, we may engage in other acquisitions.
Risk Factors
See the sections entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31,
2010, in our most recent Quarterly Report on Form 10-Q and in this prospectus supplement for a discussion of the
factors you should consider careful y before deciding to invest in the notes.

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