00:00When we designed World of Hyatt, it was designed as an experience platform, not
00:05as a points program. We view points as a means to an end that's not just a room
00:10night, but an overall experience. From its modest motel beginnings, Hyatt has
00:14constructed one of the largest hotel and resort portfolios in the world. The
00:19company remains far smaller than industry leaders Hilton and Marriott, and rising
00:23operational expenses, travel uncertainty, and external shocks like the COVID-19
00:27pandemic have made growth difficult. Hyatt's strategy? Sell real estate and
00:32invest in expanding its luxury brands. Instead of splitting your attention
00:36between being a great property owner, we are now really focused on brand building
00:40and investing in the brands. Backed by data-driven loyalty programs and new
00:45brand acquisitions, Hyatt is positioning itself to expand its lead in luxury and
00:50experiential travel. Younger consumers are spending on these really specialized
00:55experiences. It's not a one-size-fits-all anymore. Here's why Hyatt is
00:59building brands instead of hotels in order to keep the next generation of
01:03travelers checked in.
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