Try our mobile app

Published: 2021-08-16 06:06:11 ET
<<<  go to H company page
EX-99.2 3 d340838dex992.htm EX-99.2 EX-99.2

Exhibit 99.2 Dreams Playa Bonita, Panama TRANSACTION ANNOUNCEMENT AUGUST 16, 2021 Hyatt and related marks are trademarks of Hyatt Corporation or its affiliates. © 2021 Hyatt Corporation. All rights reserved . 1Exhibit 99.2 Dreams Playa Bonita, Panama TRANSACTION ANNOUNCEMENT AUGUST 16, 2021 Hyatt and related marks are trademarks of Hyatt Corporation or its affiliates. © 2021 Hyatt Corporation. All rights reserved . 1


DISCLAIMER TRANSACTION ANNOUNCEMENT On August 16, 2021, Hyatt Hotels Corporation (together with one or more of its affiliates, “Hyatt” or the “Company”) announced that Hyatt has reached a definitive agreement to acquire Apple Leisure Group (the “Transaction”). The Transaction is subject to satisfaction of customary closing conditions, including applicable regulatory a pprovals. The Transaction is scheduled to close during the fourth quarter of 2021. The Company’s forecasts used throughout this presentation are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results, or that the Transac ti on will successfully close. F O R W ARD-LOOKING STATEMENTS F orw ard -Looking Statements in this presentation, 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 the Company’s proposed acquisition of Apple Leisure Group, including expected financial and operational bene fi ts resulting from the acquisition, guest and owner advantages arising from the acquisition, projected financial performance of Apple Leisure Group, the amount and timing of future asset dispositions and projected sales multiples of such asset dispositions, the Company’s liquidity profile, the number of properties expected to open in the future, the expected growth of global luxury travel and the Company’s system -wide leisure room revenue mix, the projected future fee based earnings of the combined company, expected benefits and added value from the World of Hyatt loyalty program and Apple Leisure Group's membership offering, anticipated financing sources for the proposed acquisition of Apple Leisure Group, the impact of indebtedness incurred in connection with the acquisition on the Company’s investment grade rating status, the expected timeline for completing the acq u isition, the Company’s plans, strategies, outlook, financial performance, projections, financing proposals, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our act ual 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 th ese 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 ma y cause actual results to differ materially from current expectations include, among others, risks associated with the ability to consummate the proposed acquisition of Apple Leisure Group and the timing of the closing of the proposed transaction; the Company’s ability to successfully integrate Apple Leisure Group’s employees and operations into the Company; the ability to realize the anticipated benefits and synergies of the propo s ed acquisition of Apple Leisure Group as rapidly or to the extent anticipated; risks related to the ability to obtain any contemplated financing on favorable terms or at all; risks affecting the luxury and all -inclusive lodging segments; the duration of the COVID -19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID -19 variants; the short and longer -term effects of the COVID -19 pandemic, including the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID -19 pandemic, any additional resurgence, or COVID -19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretion ar y spending; the broad distribution of COVID -19 vaccines and wide acceptance by the general population of such vaccines; the ability of third -party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID -19 pandemic, any additional resurgence, or COVID -19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic gr o w th; the rate and the pace of economic recovery following economic downturns; levels of spending in business, leisure, and all -inclusive segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo -political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel -related accidents; natural or man -made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, such as the COVID - 19 pandemic, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that h a ve performance tests or guarantees in favor of our third -party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend pa yments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangement s , such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our rela ti onships with, third -party property owners, franchisees, and hospitality venture partners; the possible inability of third -party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to succe ssfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to succ e ssfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fl uctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our indus tr y, including as a result of the COVID -19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology f ailures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business; and other risks discussed in the Company's filings with the SEC, including our annual re po rt on Form 10 -K and quarterly reports on Form 10 -Q, which filings are available from the SEC. We caution you not to place undue reliance on any forward -looking statements, which are made only as of the date of this presentation. We do not undertake or assume any 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 fa c tors affecting forward -looking statements, except to the extent required by applicable law. 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. 2DISCLAIMER TRANSACTION ANNOUNCEMENT On August 16, 2021, Hyatt Hotels Corporation (together with one or more of its affiliates, “Hyatt” or the “Company”) announced that Hyatt has reached a definitive agreement to acquire Apple Leisure Group (the “Transaction”). The Transaction is subject to satisfaction of customary closing conditions, including applicable regulatory a pprovals. The Transaction is scheduled to close during the fourth quarter of 2021. The Company’s forecasts used throughout this presentation are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results, or that the Transac ti on will successfully close. F O R W ARD-LOOKING STATEMENTS F orw ard -Looking Statements in this presentation, 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 the Company’s proposed acquisition of Apple Leisure Group, including expected financial and operational bene fi ts resulting from the acquisition, guest and owner advantages arising from the acquisition, projected financial performance of Apple Leisure Group, the amount and timing of future asset dispositions and projected sales multiples of such asset dispositions, the Company’s liquidity profile, the number of properties expected to open in the future, the expected growth of global luxury travel and the Company’s system -wide leisure room revenue mix, the projected future fee based earnings of the combined company, expected benefits and added value from the World of Hyatt loyalty program and Apple Leisure Group's membership offering, anticipated financing sources for the proposed acquisition of Apple Leisure Group, the impact of indebtedness incurred in connection with the acquisition on the Company’s investment grade rating status, the expected timeline for completing the acq u isition, the Company’s plans, strategies, outlook, financial performance, projections, financing proposals, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our act ual 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 th ese 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 ma y cause actual results to differ materially from current expectations include, among others, risks associated with the ability to consummate the proposed acquisition of Apple Leisure Group and the timing of the closing of the proposed transaction; the Company’s ability to successfully integrate Apple Leisure Group’s employees and operations into the Company; the ability to realize the anticipated benefits and synergies of the propo s ed acquisition of Apple Leisure Group as rapidly or to the extent anticipated; risks related to the ability to obtain any contemplated financing on favorable terms or at all; risks affecting the luxury and all -inclusive lodging segments; the duration of the COVID -19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID -19 variants; the short and longer -term effects of the COVID -19 pandemic, including the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID -19 pandemic, any additional resurgence, or COVID -19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretion ar y spending; the broad distribution of COVID -19 vaccines and wide acceptance by the general population of such vaccines; the ability of third -party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID -19 pandemic, any additional resurgence, or COVID -19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic gr o w th; the rate and the pace of economic recovery following economic downturns; levels of spending in business, leisure, and all -inclusive segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo -political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel -related accidents; natural or man -made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, such as the COVID - 19 pandemic, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that h a ve performance tests or guarantees in favor of our third -party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend pa yments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangement s , such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our rela ti onships with, third -party property owners, franchisees, and hospitality venture partners; the possible inability of third -party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to succe ssfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to succ e ssfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fl uctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our indus tr y, including as a result of the COVID -19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology f ailures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business; and other risks discussed in the Company's filings with the SEC, including our annual re po rt on Form 10 -K and quarterly reports on Form 10 -Q, which filings are available from the SEC. We caution you not to place undue reliance on any forward -looking statements, which are made only as of the date of this presentation. We do not undertake or assume any 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 fa c tors affecting forward -looking statements, except to the extent required by applicable law. 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. 2


Zoëtry Montego Bay Resort & Spa, Jamaica TRANSACTION ANNOUNCEMENT We are announcing two decisions today Signed an agreement to acquire Apple Leisure Group • Acquiring a highly desirable independent resort management platform with significant luxury presence and demonstrated track record of growth • Adding an asset-light business with no hotel asset ownership • Doubling the number of resorts in the Hyatt system, adding significant options for all Hyatt guests, including World of Hyatt members, and increasing our systemwide leisure room revenue mix to over 50% on estimated 2023 chainwide revenues • Increasing European footprint by over 60% • Accelerating Hyatt’s industry-leading growth by adding a portfolio of resort brands with a large pipeline Expanded our asset disposition commitment by $2 billion over the next 3 years • Accelerating our transformation to greater fee-based earnings and creating additional liquidity 3 Source: ALG inventory and pipeline as provided by ALG as of 7/31/21Zoëtry Montego Bay Resort & Spa, Jamaica TRANSACTION ANNOUNCEMENT We are announcing two decisions today Signed an agreement to acquire Apple Leisure Group • Acquiring a highly desirable independent resort management platform with significant luxury presence and demonstrated track record of growth • Adding an asset-light business with no hotel asset ownership • Doubling the number of resorts in the Hyatt system, adding significant options for all Hyatt guests, including World of Hyatt members, and increasing our systemwide leisure room revenue mix to over 50% on estimated 2023 chainwide revenues • Increasing European footprint by over 60% • Accelerating Hyatt’s industry-leading growth by adding a portfolio of resort brands with a large pipeline Expanded our asset disposition commitment by $2 billion over the next 3 years • Accelerating our transformation to greater fee-based earnings and creating additional liquidity 3 Source: ALG inventory and pipeline as provided by ALG as of 7/31/21


Dreams Vista Cancun Golf & Spa Resort, Mexico STRATEGIC INTENT These decisions are aligned with our commitments and our long-term strategy Driving industry-leading growth ü Adding significant embedded and prospective growth Investing in asset-light platforms ü Transforming the earnings profile with a focus on fee based earnings Expanding the customer base ü Prioritizing compelling, personalized customer experiences and expanding to complementary or adjacent customer segments 4Dreams Vista Cancun Golf & Spa Resort, Mexico STRATEGIC INTENT These decisions are aligned with our commitments and our long-term strategy Driving industry-leading growth ü Adding significant embedded and prospective growth Investing in asset-light platforms ü Transforming the earnings profile with a focus on fee based earnings Expanding the customer base ü Prioritizing compelling, personalized customer experiences and expanding to complementary or adjacent customer segments 4


Secrets Mallorca Villamil Resort & Spa, Spain TRANSACTION OVERVIEW Reflects an enterprise value of ~$2.7 billion on a debt-free, cash-free basis, Transaction 1 representing a low double-digit multiple on FY23E ALG Management EBITDA , consideration reflecting significant and ongoing expansion Upon joining Hyatt, ALG’s CEO, Alejandro Reynal, and his leadership team will Management & continue the mission of the combined companies to deliver distinctive governance experiences for our guests At closing, Hyatt expects to fund more than 80 percent of the purchase with a combination of $1.0 billion of cash on hand and new debt financings, and the remainder with approximately $500 million from equity financing. Hyatt has secured a $1.7 billion financing commitment from J.P. Morgan. Cash proceeds Financing from the $2 billion asset sale program are expected to be used to pay down debt, including debt incurred to fund the acquisition. Hyatt is committed to maintaining an investment grade profile and to continue managing the balance sheet prudently after the transaction Anticipated to close in the fourth quarter of fiscal year 2021 Transaction Subject to satisfaction of customary closing conditions, including applicable timeline regulatory approvals 1. ALG Management EBITDA as provided, calculated, and used by ALG is not calculated or presented in accordance with generally accepted accounting principles in the United States (“GAAP”). This non-GAAP financial measure has important limitations and should not be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. In addition, this non-GAAP financial measure, as presented, is not comparable to Hyatt’s current or expected post-closing definition and calculation of Adjusted EBITDA as a result of the treatment of deferred revenue and expenses associated with ALG’s Unlimited Vacation Club business in the calculation of ALG Management EBITDA, and may not be comparable to similarly titled measures of other companies due to varying methods of calculations. ALG Management EBITDA - as provided, calculated, and used by ALG - is presented to ALG’s third-party lenders in connection with ALG’s debt covenant compliance calculations. 5 Source: 2019 financial data as provided by ALGSecrets Mallorca Villamil Resort & Spa, Spain TRANSACTION OVERVIEW Reflects an enterprise value of ~$2.7 billion on a debt-free, cash-free basis, Transaction 1 representing a low double-digit multiple on FY23E ALG Management EBITDA , consideration reflecting significant and ongoing expansion Upon joining Hyatt, ALG’s CEO, Alejandro Reynal, and his leadership team will Management & continue the mission of the combined companies to deliver distinctive governance experiences for our guests At closing, Hyatt expects to fund more than 80 percent of the purchase with a combination of $1.0 billion of cash on hand and new debt financings, and the remainder with approximately $500 million from equity financing. Hyatt has secured a $1.7 billion financing commitment from J.P. Morgan. Cash proceeds Financing from the $2 billion asset sale program are expected to be used to pay down debt, including debt incurred to fund the acquisition. Hyatt is committed to maintaining an investment grade profile and to continue managing the balance sheet prudently after the transaction Anticipated to close in the fourth quarter of fiscal year 2021 Transaction Subject to satisfaction of customary closing conditions, including applicable timeline regulatory approvals 1. ALG Management EBITDA as provided, calculated, and used by ALG is not calculated or presented in accordance with generally accepted accounting principles in the United States (“GAAP”). This non-GAAP financial measure has important limitations and should not be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. In addition, this non-GAAP financial measure, as presented, is not comparable to Hyatt’s current or expected post-closing definition and calculation of Adjusted EBITDA as a result of the treatment of deferred revenue and expenses associated with ALG’s Unlimited Vacation Club business in the calculation of ALG Management EBITDA, and may not be comparable to similarly titled measures of other companies due to varying methods of calculations. ALG Management EBITDA - as provided, calculated, and used by ALG - is presented to ALG’s third-party lenders in connection with ALG’s debt covenant compliance calculations. 5 Source: 2019 financial data as provided by ALG


Dreams Las Mareas Resort & Spa, Costa Rica APPLE LEISURE GROUP SUMMARY 2019 financial performance Total revenue: $1.2 billion 1 ALG Management EBITDA : $168 million Unlimited Vacation Club AMResorts Vacations Resort management company Membership program Travel distribution platform • Established B2B and B2C • AMR Collection: 6 leading • 110,000+ members travel distribution brands resort brands & independent • Innovative membership program resorts • Source of ~20% of AMR with a passionate customer 2 Collection room-nights • 33,000+ rooms base and a high-teens growth trajectory 2 • Provider of destination • 102 resorts in 10 countries management services and hospitality technology solutions 1. ALG Management EBITDA as provided, calculated, and used by ALG is not calculated or presented in accordance with generally accepted accounting principles in the United States (“GAAP”). This non-GAAP financial measure has important limitations and should not be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. In addition, this non-GAAP financial measure, as presented, is not comparable to Hyatt’s current or expected post-closing definition and calculation of Adjusted EBITDA as a result of the treatment of deferred revenue and expenses associated with ALG’s Unlimited Vacation Club business in the calculation of ALG Management EBITDA, and may not be comparable to similarly titled measures of other companies due to varying methods of calculations. ALG Management EBITDA - as provided, calculated, and used by ALG - is presented to ALG’s third-party lenders in connection with ALG’s debt covenant compliance calculations. 2. AMResorts property and room count based off YE2021 projections as of 7/31/2021. 6 Source: 2019 financial data as provided by ALGDreams Las Mareas Resort & Spa, Costa Rica APPLE LEISURE GROUP SUMMARY 2019 financial performance Total revenue: $1.2 billion 1 ALG Management EBITDA : $168 million Unlimited Vacation Club AMResorts Vacations Resort management company Membership program Travel distribution platform • Established B2B and B2C • AMR Collection: 6 leading • 110,000+ members travel distribution brands resort brands & independent • Innovative membership program resorts • Source of ~20% of AMR with a passionate customer 2 Collection room-nights • 33,000+ rooms base and a high-teens growth trajectory 2 • Provider of destination • 102 resorts in 10 countries management services and hospitality technology solutions 1. ALG Management EBITDA as provided, calculated, and used by ALG is not calculated or presented in accordance with generally accepted accounting principles in the United States (“GAAP”). This non-GAAP financial measure has important limitations and should not be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. In addition, this non-GAAP financial measure, as presented, is not comparable to Hyatt’s current or expected post-closing definition and calculation of Adjusted EBITDA as a result of the treatment of deferred revenue and expenses associated with ALG’s Unlimited Vacation Club business in the calculation of ALG Management EBITDA, and may not be comparable to similarly titled measures of other companies due to varying methods of calculations. ALG Management EBITDA - as provided, calculated, and used by ALG - is presented to ALG’s third-party lenders in connection with ALG’s debt covenant compliance calculations. 2. AMResorts property and room count based off YE2021 projections as of 7/31/2021. 6 Source: 2019 financial data as provided by ALG


AMRESORTS OVERVIEW ™ Resort Room 2 1 AMResorts highlights count count Description ADR • High-end luxury Resort management company that ™ ~$300 21 7,642 • Romantic, adult-only provides sales, marketing, and brand management services to all-inclusive • High-end luxury ™ ~$225 27 11,927 resorts targeting luxury leisure • Family-friendly 3 AMR Collection: 33,000+ rooms and • High-end luxury resorts in 10 countries ™ ~$250 5 1,860 • Social, adult-only Growth from 9 resorts in 2007 to 102 • Boutique luxury resorts by YE2021 ~$400 7 565 ™ • Targeted at adults Founded in 2001 • European-centric ~$175 32 8,485 ™ • Family & adult-only • Lifestyle positioning ~$125 6 2,127 ™ • Family friendly 1. Indicative ADR range; FX rate assumed for Alua at EUR:USD 1:1.17 2. AMResorts has three white-label resorts that do not participate in brands above and one legacy Now hotel; branded resort count sum = 98; including white-label and Now-brand, resort count = 102 7 3. AMResorts property and room count based off YE2021 projections as of 7/31/2021 Source: Data as provided by ALG as of 6/30/21AMRESORTS OVERVIEW ™ Resort Room 2 1 AMResorts highlights count count Description ADR • High-end luxury Resort management company that ™ ~$300 21 7,642 • Romantic, adult-only provides sales, marketing, and brand management services to all-inclusive • High-end luxury ™ ~$225 27 11,927 resorts targeting luxury leisure • Family-friendly 3 AMR Collection: 33,000+ rooms and • High-end luxury resorts in 10 countries ™ ~$250 5 1,860 • Social, adult-only Growth from 9 resorts in 2007 to 102 • Boutique luxury resorts by YE2021 ~$400 7 565 ™ • Targeted at adults Founded in 2001 • European-centric ~$175 32 8,485 ™ • Family & adult-only • Lifestyle positioning ~$125 6 2,127 ™ • Family friendly 1. Indicative ADR range; FX rate assumed for Alua at EUR:USD 1:1.17 2. AMResorts has three white-label resorts that do not participate in brands above and one legacy Now hotel; branded resort count sum = 98; including white-label and Now-brand, resort count = 102 7 3. AMResorts property and room count based off YE2021 projections as of 7/31/2021 Source: Data as provided by ALG as of 6/30/21


UNLIMITED VACATION CLUB (UVC) OVERVIEW UVC highlights UVC’s value proposition to… Exclusive travel membership program Preferred pricing based on prevailing 1 across AMR Collection brands rates …UVC members Memberships entitle participants to Free nights based on membership tier receive: • Preferred pricing on future vacations booked at AMR Collection properties Higher occupancy and guest spend • Free nights based on membership tier Direct financial benefits • Other VIP perks and discounts while …resort owners on-property Source of brand strength and interested travelers for new resorts 110,000+ active members as of June 2021 18% p.a. membership growth over the past 5 years Meaningful distribution channel for AMR Collection Founded in 2010 …AMR Collection Elevated guest engagement 8 1. As of August 2021, UVC is not yet offered for sale at AMR Collection’s Alua brand and white-label properties Source: Data provided by ALG as of 6/30/21UNLIMITED VACATION CLUB (UVC) OVERVIEW UVC highlights UVC’s value proposition to… Exclusive travel membership program Preferred pricing based on prevailing 1 across AMR Collection brands rates …UVC members Memberships entitle participants to Free nights based on membership tier receive: • Preferred pricing on future vacations booked at AMR Collection properties Higher occupancy and guest spend • Free nights based on membership tier Direct financial benefits • Other VIP perks and discounts while …resort owners on-property Source of brand strength and interested travelers for new resorts 110,000+ active members as of June 2021 18% p.a. membership growth over the past 5 years Meaningful distribution channel for AMR Collection Founded in 2010 …AMR Collection Elevated guest engagement 8 1. As of August 2021, UVC is not yet offered for sale at AMR Collection’s Alua brand and white-label properties Source: Data provided by ALG as of 6/30/21


VACATIONS OVERVIEW Vacations highlights Vacations brands summary One of the largest tour operators / ™ ™ packagers in North America for leisure B2B tour operators serving U.S. travel travel to Mexico and the Caribbean agents and end-consumers to domestic B2B destinations, Mexico, the Caribbean, and ™ ™ Recognized travel distribution brands the South Pacific Provider of destination management services & hospitality technology ™ ™ solutions B2C OTAs focused on customers B2C B2B traveling to Mexico and the Caribbean Founded in 1969 Airline ™ ™ White-label tour operator / packager for Vacation United Airlines and Southwest Airlines Brands ™ Destination #1 destination management company in Services Mexico and the Caribbean ™ Leading provider of travel merchandising Technology and distribution technology Solutions 9 Source: Data provided by ALG as of 6/30/21VACATIONS OVERVIEW Vacations highlights Vacations brands summary One of the largest tour operators / ™ ™ packagers in North America for leisure B2B tour operators serving U.S. travel travel to Mexico and the Caribbean agents and end-consumers to domestic B2B destinations, Mexico, the Caribbean, and ™ ™ Recognized travel distribution brands the South Pacific Provider of destination management services & hospitality technology ™ ™ solutions B2C OTAs focused on customers B2C B2B traveling to Mexico and the Caribbean Founded in 1969 Airline ™ ™ White-label tour operator / packager for Vacation United Airlines and Southwest Airlines Brands ™ Destination #1 destination management company in Services Mexico and the Caribbean ™ Leading provider of travel merchandising Technology and distribution technology Solutions 9 Source: Data provided by ALG as of 6/30/21


STRATEGIC RATIONALE: FIVE KEY BENEFITS Accelerate asset-light strategy Further accelerate growth platform Expand footprint in luxury resort travel Expand share of wallet and increase choice for guests Enhance benefits for owners 10


Hyatt Regency Lake Tahoe Resort, Spa And Casino, U.S.A. ACCELERATE ASSET-LIGHT STRATEGY 1 Our progress since 2017 Earnings mix, % of total Owned & leased Fee-based Hyatt expects to complete current asset commitment this year, total of $3.0 billion in asset sales at a ~17.4x multiple since announcing our sell-down strategy in late 2017 ~20 43 Expanding our commitment 63 Hyatt commits to an additional $2.0 billion in asset dispositions by the end of 2024 Anticipate sell-down will be faster than 3 years, commitment ~80 provides flexibility to maximize asset values 57 37 Transforming our earnings mix by 2024 Hyatt’s organic growth + ALG’s fee-based earnings + asset disposition 2009 2019 2024 commitment = ~80% fee based earnings 1. Earnings composition percentages above exclude Corporate & Other and eliminations. Illustrative business mix in 2024 assumes successful completion of $2 billion disposition plan and estimated growth. Assumes the Vacations business is included in Corporate & Other. Illustrative 2024 earnings is calculated using ALG Management EBITDA projections. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary 11 11 from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results. Fee-Based consists of Americas, EAME/SWA and ASPAC reportable management & franchising segments Source: Hyatt financial data and projections as of 6/30/21Hyatt Regency Lake Tahoe Resort, Spa And Casino, U.S.A. ACCELERATE ASSET-LIGHT STRATEGY 1 Our progress since 2017 Earnings mix, % of total Owned & leased Fee-based Hyatt expects to complete current asset commitment this year, total of $3.0 billion in asset sales at a ~17.4x multiple since announcing our sell-down strategy in late 2017 ~20 43 Expanding our commitment 63 Hyatt commits to an additional $2.0 billion in asset dispositions by the end of 2024 Anticipate sell-down will be faster than 3 years, commitment ~80 provides flexibility to maximize asset values 57 37 Transforming our earnings mix by 2024 Hyatt’s organic growth + ALG’s fee-based earnings + asset disposition 2009 2019 2024 commitment = ~80% fee based earnings 1. Earnings composition percentages above exclude Corporate & Other and eliminations. Illustrative business mix in 2024 assumes successful completion of $2 billion disposition plan and estimated growth. Assumes the Vacations business is included in Corporate & Other. Illustrative 2024 earnings is calculated using ALG Management EBITDA projections. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary 11 11 from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results. Fee-Based consists of Americas, EAME/SWA and ASPAC reportable management & franchising segments Source: Hyatt financial data and projections as of 6/30/21


Sunscape Curaçao Resort, Spa & Casino, Curaçao FURTHER ACCELERATE GROWTH WITH EXPANDED PLATFORM Our collective capabilities strengthen a global growth engine AMR Collection’s developer and owner base provides us with deeply committed partners in key geographies Our global relationships and development expertise can accelerate growth in AMR Collection brands worldwide, particularly for: • Luxury chain resorts in Southern Europe, a region where luxury chains are only ~2% of total rooms versus ~10% for Mexico and the Caribbean • All-inclusive resorts in new markets in Europe, the Middle East, and Asia – regions where this concept has not yet satisfied growing demand 1 AMR Collection is expected to generate $2.3 billion in chain revenue in 2023; this represents: • Step-change increase in total chain revenue that we can reinvest in marketing and technology • Large, growing customer base that will enjoy expanded choice across the Hyatt system 1. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that 12 12 the Company will achieve these results Source: STR data as of 6/30/21, 2023 estimates as provided by ALGSunscape Curaçao Resort, Spa & Casino, Curaçao FURTHER ACCELERATE GROWTH WITH EXPANDED PLATFORM Our collective capabilities strengthen a global growth engine AMR Collection’s developer and owner base provides us with deeply committed partners in key geographies Our global relationships and development expertise can accelerate growth in AMR Collection brands worldwide, particularly for: • Luxury chain resorts in Southern Europe, a region where luxury chains are only ~2% of total rooms versus ~10% for Mexico and the Caribbean • All-inclusive resorts in new markets in Europe, the Middle East, and Asia – regions where this concept has not yet satisfied growing demand 1 AMR Collection is expected to generate $2.3 billion in chain revenue in 2023; this represents: • Step-change increase in total chain revenue that we can reinvest in marketing and technology • Large, growing customer base that will enjoy expanded choice across the Hyatt system 1. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that 12 12 the Company will achieve these results Source: STR data as of 6/30/21, 2023 estimates as provided by ALG


EXPAND FOOTPRINT: INTEGRATED GLOBAL TRAVEL PLATFORM …and the combined portfolio places Market trends and shifts underline the growing attractiveness of Hyatt as a leader in this segment luxury leisure travel … People spend on experiences largest operator of st luxury hotels in Mexico Experience-related spending has grown at more than 1.5x the pace of personal 1 1 consumption and 4x as rapidly as expenditures on goods and the Caribbean Higher consumer savings and ongoing desire to spend on leisure travel make it a durable growth vector largest operator of In past market contractions, international leisure travel recovered quicker than luxury all-inclusive st 2 business travel (2.5x rate for US outbound travel following 2008 -09 recession) resorts in the world 1 Americans accumulated excess savings of $2.3 trillion during the pandemic, with 3 highest amount of savings held by top 40% of income-earners 4 Leisure travel is a top spending priority for ~70% of Americans largest luxury operator in nd the world 2 Luxury travel growth outpaces consumer spending by a high multiple 5 Global luxury travel is expected to grow at 11% from 2021-2027 1. Wall Street Journal article, Millennials prize experiences. Now so do travel companies. (7/14/21) Based on room count 2. Skift Research report, The travel industry turned upside down (9/20) 3. Oxford Economics report, Here comes record-breaking consumer spending growth (5/21) 4. Destination Analysts’ report, The state of the American traveler (12/20) 13 5. Allied Market Research report, Luxury travel market by type of tour, age group, and type of traveler: Global opportunity analysis and industry forecast, 2021-2027 (3/21) Source: STR Census Data as of 6/30/21EXPAND FOOTPRINT: INTEGRATED GLOBAL TRAVEL PLATFORM …and the combined portfolio places Market trends and shifts underline the growing attractiveness of Hyatt as a leader in this segment luxury leisure travel … People spend on experiences largest operator of st luxury hotels in Mexico Experience-related spending has grown at more than 1.5x the pace of personal 1 1 consumption and 4x as rapidly as expenditures on goods and the Caribbean Higher consumer savings and ongoing desire to spend on leisure travel make it a durable growth vector largest operator of In past market contractions, international leisure travel recovered quicker than luxury all-inclusive st 2 business travel (2.5x rate for US outbound travel following 2008 -09 recession) resorts in the world 1 Americans accumulated excess savings of $2.3 trillion during the pandemic, with 3 highest amount of savings held by top 40% of income-earners 4 Leisure travel is a top spending priority for ~70% of Americans largest luxury operator in nd the world 2 Luxury travel growth outpaces consumer spending by a high multiple 5 Global luxury travel is expected to grow at 11% from 2021-2027 1. Wall Street Journal article, Millennials prize experiences. Now so do travel companies. (7/14/21) Based on room count 2. Skift Research report, The travel industry turned upside down (9/20) 3. Oxford Economics report, Here comes record-breaking consumer spending growth (5/21) 4. Destination Analysts’ report, The state of the American traveler (12/20) 13 5. Allied Market Research report, Luxury travel market by type of tour, age group, and type of traveler: Global opportunity analysis and industry forecast, 2021-2027 (3/21) Source: STR Census Data as of 6/30/21


EXPAND FOOTPRINT: KEY GEOGRAPHIES 1 AMR Collection will add footprint in areas Resorts 2 3 where Hyatt has few resorts today Hyatt AMR Collection Combined Mexico 9 37 46 Doubles Hyatt’s total resort count to Dominican Republic 2 11 13 over 200 resorts Jamaica 2 4 6 Costa Rica 1 2 3 4 Increases Hyatt’s luxury chain scale Curaçao 0 2 2 room count by 35% Panama 0 1 1 St. Lucia 0 1 1 Adds 59 resorts in the Americas St. Martin 0 1 1 Other Americas 42 0 42 Increases European footprint by 60% Americas subtotal 56 59 115 and increases the number of European resorts from 6 to 49 Spain 1 40 41 Greece 1 3 4 Opens doors to millions of additional Other rest of world 44 0 44 guests Rest of world subtotal 46 43 89 Total 102 102 204 1. Resorts figures are representative of Hyatt current inventory and ALG year-end 2021 forecast as of 7/31/2021. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results 2. Exhibit only shows resorts; as of 7/31/21, Hyatt’s total hotel count in these countries: Mexico (22), Dominican Republic (2), Jamaica (2), Costa Rica (2), Curaçao (0), Panama, (1) St. Lucia, (0) St. Martin (0), Spain, (5), & Greece (2) 3. 14 14 AMResorts opening by 12/31/21 per 7/31/21 pipeline Per Smith Travel Research's luxury chain scale brand definition Source: STR data as of 6/30/21; Hyatt inventory and pipeline as of 7/31/21; 2019 financial data and 2023 estimates as provided by ALG; ALG inventory and pipeline as provided by ALG as of 7/31/21EXPAND FOOTPRINT: KEY GEOGRAPHIES 1 AMR Collection will add footprint in areas Resorts 2 3 where Hyatt has few resorts today Hyatt AMR Collection Combined Mexico 9 37 46 Doubles Hyatt’s total resort count to Dominican Republic 2 11 13 over 200 resorts Jamaica 2 4 6 Costa Rica 1 2 3 4 Increases Hyatt’s luxury chain scale Curaçao 0 2 2 room count by 35% Panama 0 1 1 St. Lucia 0 1 1 Adds 59 resorts in the Americas St. Martin 0 1 1 Other Americas 42 0 42 Increases European footprint by 60% Americas subtotal 56 59 115 and increases the number of European resorts from 6 to 49 Spain 1 40 41 Greece 1 3 4 Opens doors to millions of additional Other rest of world 44 0 44 guests Rest of world subtotal 46 43 89 Total 102 102 204 1. Resorts figures are representative of Hyatt current inventory and ALG year-end 2021 forecast as of 7/31/2021. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results 2. Exhibit only shows resorts; as of 7/31/21, Hyatt’s total hotel count in these countries: Mexico (22), Dominican Republic (2), Jamaica (2), Costa Rica (2), Curaçao (0), Panama, (1) St. Lucia, (0) St. Martin (0), Spain, (5), & Greece (2) 3. 14 14 AMResorts opening by 12/31/21 per 7/31/21 pipeline Per Smith Travel Research's luxury chain scale brand definition Source: STR data as of 6/30/21; Hyatt inventory and pipeline as of 7/31/21; 2019 financial data and 2023 estimates as provided by ALG; ALG inventory and pipeline as provided by ALG as of 7/31/21


EXPAND FOOTPRINT: AMR COLLECTION AND HYATT WILL COMBINE TWO POWERFUL GROWTH ENGINES UPON CLOSE AMR Collection and Hyatt portfolios have experienced rapid growth Deal economics reflect AMR Collection’s in recent years embedded and prospective expansion 1 Hotel room count , K AMR Collection portfolio will have grown by nearly 50% since 2019 from less than 70 Hyatt AMR Collection resorts to over 100 resorts by year-end 2021 8% p.a. Transaction capitalizes on the strong growth trajectory of AMR Collection and is 253 expected to accelerate Hyatt's industry leading growth 186 15% p.a. AMR Collection pipeline includes 24 signed resorts, representing ~25% of AMR 33 19 Collection existing rooms and over 40 deals in advanced stages of negotiations 2017 YE2021 2017 YE2021 1. Room count is representative of Hyatt and ALG year-end inventory forecast as of 7/31/2021. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may 15 15 change. There can be no assurance that the Company will achieve these results Source: Data provided by ALG as of 6/30/21EXPAND FOOTPRINT: AMR COLLECTION AND HYATT WILL COMBINE TWO POWERFUL GROWTH ENGINES UPON CLOSE AMR Collection and Hyatt portfolios have experienced rapid growth Deal economics reflect AMR Collection’s in recent years embedded and prospective expansion 1 Hotel room count , K AMR Collection portfolio will have grown by nearly 50% since 2019 from less than 70 Hyatt AMR Collection resorts to over 100 resorts by year-end 2021 8% p.a. Transaction capitalizes on the strong growth trajectory of AMR Collection and is 253 expected to accelerate Hyatt's industry leading growth 186 15% p.a. AMR Collection pipeline includes 24 signed resorts, representing ~25% of AMR 33 19 Collection existing rooms and over 40 deals in advanced stages of negotiations 2017 YE2021 2017 YE2021 1. Room count is representative of Hyatt and ALG year-end inventory forecast as of 7/31/2021. The Company’s forecasts are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may 15 15 change. There can be no assurance that the Company will achieve these results Source: Data provided by ALG as of 6/30/21


Alua Illa de Menorca, Spain EXPAND SHARE -OF-WALLET AND INCREASE CHOICE FOR GUESTS Our membership programs will introduce a wider customer base that is passionate about travel to a Hyatt world Our guests will have an expanded set of choices to explore more brands, experiences, and places We are exploring the best ways to expand benefits and opportunities to each of these two sets of passionate, loyal travelers 16


Secrets St. Martin Resort & Spa, St. Martin ENHANCE BENEFITS FOR OWNERS Upon closing, our combined footprint will give us tangible operational corporate & property-level benefits Combined resources will help us further innovate our digital capabilities and drive direct bookings Shared support functions and global contact and service centers will better serve guests and owners across the geographies where we both operate Our joint talent and expertise will enhance our excellence in performance and broadens our depth of experience across markets and business models The combined company will be able to better leverage vendor relationships 17 17 17Secrets St. Martin Resort & Spa, St. Martin ENHANCE BENEFITS FOR OWNERS Upon closing, our combined footprint will give us tangible operational corporate & property-level benefits Combined resources will help us further innovate our digital capabilities and drive direct bookings Shared support functions and global contact and service centers will better serve guests and owners across the geographies where we both operate Our joint talent and expertise will enhance our excellence in performance and broadens our depth of experience across markets and business models The combined company will be able to better leverage vendor relationships 17 17 17


RECAP: STRATEGIC RATIONALE Accelerate asset-light strategy Further accelerate growth platform Expand footprint in luxury resort travel Expand share of wallet and increase choice for guests Enhance benefits for owners 18RECAP: STRATEGIC RATIONALE Accelerate asset-light strategy Further accelerate growth platform Expand footprint in luxury resort travel Expand share of wallet and increase choice for guests Enhance benefits for owners 18