Hyatt Hotels is one of the companies listed as a speaker at the HR Trends Summit taking place from October 18-19, 2016 in Tehran, Iran. (Speakers).
According to its Annual Report filed with the SEC for fiscal year 2012: "Several individuals stayed at the Park Hyatt Hamburg, a property leased by a foreign subsidiary of the Registrant, during 2012, for a total of 33 room nights pursuant to a pre-negotiated standard preferred rate agreement with Europaeisch-Iranische Handelsbank AG, an entity included on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control in the U.S. Department of the Treasury. The aggregate revenues received by the hotel for such stays were approximately $9,300 (including F&B and other revenue). The EAME/SW Asia management segment EBITDA profit margin for the year ended December 31, 2012 was 28.3%. Based on this information, the aggregate net profits received by the hotel for such stays were approximately $2,600. The rates for such room nights were paid in accordance with the standard preferred rate agreement with Europaeisch-Iranische Handelsbank AG. The agreement with Europaerisch-Iranische Handelsbank AG was terminated in September 2012, and the Registrant does not intend to continue such activity. The individuals stayed at the Park Hyatt Hamburg before it became subject to the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (“ITSR”), on October 9, 2012. Even if the foreign subsidiary had been subject to the ITSR at the time of the stays, the Registrant believes that such hotel stays were exempt from the ITSR and the Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 C.F.R. Part 544, pursuant to the International Emergency Economic Powers Act."
"When it comes to U.S. sanctions on Iran, no detail is too small to overlook these days. Since February, publicly traded companies have filed nearly 500 disclosure forms about their business ties to Iran…The Hyatt hotel chain said that this year, an individual whom the Treasury Department identified as working for one of the National Iranian Oil Co.’s front companies stayed for five nights at the Grand Hyatt in Malaysia’s capital of Kuala Lumpur, a franchise not owned by the chain. The hotel netted about $400. But Hyatt said there was nothing wrong with that because no American people or products were involved." (Washington Post, "Under new law, companies disclosing even tiniest dealings with Iran," 12/4/13)
"Billed as a dialogue between American church leaders and President Ahmadinejad of Iran, the Religions for Peace event at the Grand Hyatt Hotel on Thursday is shaping up as the focal point of this week's gathering of world leaders in New York City." (New York Sun, "Ahmadinejad Prepares To Steal the Scene," 9/22/08)
"The banquet hall of the Grand Hyatt Hotel in mid-town Manhattan had the feel of an extravagant Persian wedding on Wednesday night. A crowd of over one thousand guests, dressed in formal attire, sat around tightly packed tables munching on Iranian delicacies and chit-chatting casually in Farsi. But the occasion was a dinner hosted by Iran's President Mahmoud Ahmadinejad. The guest list, all Iranian-Americans living in the tri-state area, had been drawn up from the database of Iran's mission to the United Nations and consulate in Washington D.C." (Wall Street Journal, "My Dinner with Ahmadinejad," 9/27/08)
No response at this time.