INDUSTRY OUTLOOK
Hyatt Hotels Corporation | September 28, 2021
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H), a leading global hospitality company, announced today the pricing of its public offering of:
$700.0 million aggregate principal amount of senior notes due 2023, which will bear interest at a fixed annual rate of 1.300%;
$300.0 million aggregate principal amount of floating rate senior notes due 2023, which will bear interest at a rate equal to Compounded SOFR (as defined in the prospectus supplement relating to the offering), reset quarterly, plus 105 basis points; and
$750.0 million aggregate principal amount of senior notes due 2024, which will bear interest at a fixed annual rate of 1.800%.
The offering is expected to close on October 1, 2021, subject to customary closing conditions. Hyatt will have the option to redeem all or any portion of the notes at 100% of their principal amount at any time on or after October 1, 2022.
The Company intends to use the net proceeds of the offering to fund a portion of the purchase price for its pending acquisition of Apple Leisure Group (the “Apple Leisure Group Acquisition”), to refinance all of its $750.0 million principal amount of floating rate notes due 2022 and for general corporate purposes, which may include payment of any fees and expenses relating to the Apple Leisure Group Acquisition or any other general corporate purpose the Company may deem necessary or advisable, and to pay fees and expenses related to this offering.
Hyatt previously announced that it intends to fund more than 80% of the $2.7 billion purchase price for the Apple Leisure Group Acquisition with a combination of $1.0 billion of cash on hand and new debt financing, including a portion of the proceeds from this offering and a one-year term loan expected to be funded concurrently with the closing of the Apple Leisure Group Acquisition as part of the previously announced acquisition financing commitment, and the remainder with proceeds of its recently consummated equity offering. The offering is not contingent on the consummation of the Apple Leisure Group Acquisition, and the consummation of the Apple Leisure Group Acquisition is not contingent on the consummation of the offering.
J.P. Morgan is acting as representative of the underwriters, and J.P. Morgan, Deutsche Bank Securities, Scotiabank and Wells Fargo Securities are acting as joint lead book-running managers for the offering.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 20 premier brands. As of June 30, 2021, the Company's portfolio included more than 1,000 hotel and all-inclusive properties in 68 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders.
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CRUISE
Princess Cruises | October 12, 2021
Princess Cruises today celebrated its return to San Francisco with the maiden call of Majestic Princess, the first cruise ship to visit the City by the Bay since the industry global pause of operations. Guests onboard Majestic Princess experienced the iconic attractions of San Francisco during a port call on a seven-day Classic California Coast voyage, sailing roundtrip from Los Angeles.
Long-time partners from the Port of San Francisco welcomed Princess Cruises back, recognizing the beneficial financial impact to local businesses.
"Princess has a long history of visiting the iconic Port of San Francisco with our guests marveling at the bucket-list experience of sailing underneath the Golden Gate Bridge. Our guests remain eager to be back on board enjoying a safe and real vacation."
Jan Swartz, Princess Cruises president
"The Port of San Francisco is excited to welcome back a safe return of Princess Cruises and all cruises to our renowned waterfront and city."said Elaine Forbes, Executive Director of the Port of San Francisco."The city has worked with cruise lines to ensure all CDC guidelines have been met or exceeded. The return of cruise is an important milestone for San Francisco's economic recovery and will support our small and family-owned waterfront businesses."
Majestic Princess offers a MedallionClass vacation, delivering the ultimate in effortless, personalized cruising. It begins with OceanMedallion, a quarter-sized, wearable device that enables everything from touch-free boarding to locating loved ones anywhere on the ship, as well as enhanced service like having whatever guests need, delivered directly to them, wherever they are on the ship.
Princess Cruises sailings onboard Majestic Princess are available for guests who have received their final dose of an approved COVID-19 vaccine at least 14 days prior to the beginning of the cruise and have proof of vaccination. All fully vaccinated guests must also produce a negative, medically observed COVID-19 test (PCR or antigen) taken within two days of their embarkation on all Princess sailings.
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Ellie | August 05, 2020
The thing is, Ellie isn’t actually real. It’s an automated chatbot created by a partnership between digital marketing firm BluePrint Business Communications and software platform Ellie for New Bern’s official tourism website. Home to Tryon Palace and the birthplace of Pepsi Cola, the city is located about 112 miles east of Raleigh. “We have programmed [the tool] to serve as a one-stop-shop for all things New Bern,” said BluePrint’s founder and president Brice Connors.
“With a website as large as New Bern’s, it is easy for users to run into navigational issues,” he added. “This is where Ellie streamlines the process and provides the user with what they want when they want. Whether you are planning your trip six months in advance or you just happened to come to town, Ellie takes the hassle out of traveling.”
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