Hyatt Hotels Corporation (NYSE:H) announced today a global initiative to increase procurement of responsibly sourced seafood at Hyatt hotels, starting with an initial goal of responsibly sourcing more than 50 percent of their inventory by 2018. As a part of this effort, Hyatt will also work toward purchasing more than 15 percent of its seafood supply from fisheries or farms that have been certified by the Marine Stewardship Council (MSC) or the Aquaculture Stewardship Council (ASC). This is the first phase of a long-term seafood sustainability strategy in partnership with World Wildlife Fund (WWF), a leading global conservation organization, to build on Hyatt’s existing environmental stewardship. The partnership also focuses on enhancing the sustainability of seafood sourcing at Hyatt hotels by eliminating the procurement of highly vulnerable seafood species. “We are deeply focused on improving the health of our planet and our communities by implementing sustainable practices, and we hope that this effort to responsibly source more than 50 percent of seafood purchased by our hotels by 2018 will set a new standard for the hospitality industry,” said Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation. “Not only is fishing an important livelihood in many of the communities where Hyatt hotels operate, but many people around the world rely on fish as a primary source of protein, making it essential to help protect the world’s oceans. As we continue to live out our mission of making a difference in the lives of the people we touch every day, and demonstrate care in everything we do, these overarching goals and call-to-action show our dedication to acting responsibly and doing what is best for our colleagues, guests, and owners.” After a year-long engagement with WWF and an assessment of global seafood procurement processes at Hyatt hotels, Hyatt has identified the following initiatives to improve the sustainability of Hyatt hotels’ seafood sourcing practices and standards:
- Hyatt will focus on the procurement of responsibly sourced farmed and wild-caught seafood at Hyatt hotels globally, with an initial emphasis on key species such as salmon, shrimp, grouper, Chilean sea bass, and tuna. This will include a clear preference for seafood sourced from Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC) certified fisheries and farms and those involved in Fishery or Aquaculture Improvement Projects. Hyatt will also identify other sustainable sources of seafood in collaboration with WWF.
- A complete ban on the consumption and procurement of shark fin at all Hyatt restaurants and food and beverage outlets globally. This builds on Hyatt’s commitment in 2012 to remove shark fin from all restaurant menus. Any banquets and event bookings made before May 15, 2014 that include shark fin will be honored.
- In addition to banning shark fin, Hyatt will seek to reduce and systematically eliminate sourcing of other highly vulnerable seafood species identified by WWF.
- Hyatt colleagues involved in food and beverage offerings at the company’s owned and managed full service hotels will participate in a comprehensive sustainable seafood training program developed in collaboration with WWF.
- Hyatt will measure global performance and progress of these efforts with the support of WWF analysis and recommendations.
“Hyatt has the opportunity to set a new standard for the industry and play a critical role in showing demand for responsibly sourced seafood,” said Caroline Tippett, Director of Seafood Engagement, WWF. “We look forward to working with Hyatt in an effort to ensure more sustainable sourcing through global buying practices at Hyatt hotels and through its training efforts for its colleagues worldwide. Hyatt’s ban on shark fin from food and beverage offerings will also help protect valuable shark species that are crucial for maintaining the health of our marine ecosystems.”The collaboration represents Hyatt’s ongoing effort to further its industry-leading food and beverage philosophy, Food. Thoughtfully Sourced. Carefully Served, which is focused on providing food and beverage options that are good for people, the planet, and local communities around the world. It also ties into Hyatt’s corporate responsibility platform, Hyatt Thrive, which focuses on making local communities around the world places where colleagues are proud to work, where guests want to visit, where neighbors want to live and where owners want to invest. The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. About Hyatt Hotels Corporation Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™ and Hyatt Ziva™ brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of June 30, 2014, the Company's worldwide portfolio consisted of 563 properties in 48 countries. For more information, please visit www.hyatt.com. Forward-Looking Statements Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual 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 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. Factors that may cause actual results to differ materially from current expectations include, among others, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no 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 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 will make additional updates with respect to those or other forward-looking statements.