# EDGAR Filing Document

**Accession Number:** 0001468174
**File Stem:** 0001641172-25-013312
**Filing Date:** 2025-6
**Character Count:** 69309
**Document Hash:** e88809b4c99809025fc6b035fcb6be1f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-013312.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001641172-25-013312

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hyatt Hotels Corp
- **CENTRAL INDEX KEY:** 0001468174
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS & MOTELS [7011]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 201480589
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-85070
- **FILM NUMBER:** 251016644

**BUSINESS ADDRESS:**
- **STREET 1:** 150 NORTH RIVERSIDE PLAZA
- **STREET 2:** 8TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** (312) 750-1234

**MAIL ADDRESS:**
- **STREET 1:** 150 NORTH RIVERSIDE PLAZA
- **STREET 2:** 8TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Maroon Private Trust Company, LLC
- **CENTRAL INDEX KEY:** 0001652229

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 101 SOUTH REID STREET, SUITE 307
- **STREET 2:** OFFICE 315-MAROON
- **CITY:** SIOUX FALLS
- **STATE:** SD
- **ZIP:** 57103
- **BUSINESS PHONE:** 605-221-6233

**MAIL ADDRESS:**
- **STREET 1:** 101 SOUTH REID STREET, SUITE 307
- **STREET 2:** OFFICE 315-MAROON
- **CITY:** SIOUX FALLS
- **STATE:** SD
- **ZIP:** 57103

## Ex-26

**Exhibit 26**

**<u>Appendix 1</u>**

---

| | |
|:---|:---|
| **Name of Trust** | **Jurisd. of Org.** |
| F.L.P. Trust #11 | South Dakota |

---

**<u>Appendix 2</u>**

---

| | |
|:---|:---|
| **Name of Trusts** | **Jurisd. of Org.** |
| Trust TJP-PTA | Bahamas |
| PDTA Tom Trust | South Dakota |
| PDTB Tom Trust | South Dakota |
| NPDT Jason Trust | South Dakota |
| NPDT Benjamin Trust | South Dakota |
| NPDT David Trust | South Dakota |
| Margot and Tom Pritzker Foundation | South Dakota |
| BENJAMIN T. PRITZKER DYNASTY TRUST | South Dakota |
| JASON N. PRITZKER DYNASTY TRUST | South Dakota |
| DAVID T. PRITZKER DYNASTY TRUST | South Dakota |
| BENJAMIN T. PRITZKER FAMILY TRUST | South Dakota |
| JASON N. PRITZKER FAMILY TRUST | South Dakota |
| DAVID T. PRITZKER FAMILY TRUST | South Dakota |
| BTP FAMILY DYNASTY TRUST | South Dakota |
| JNP FAMILY DYNASTY TRUST | South Dakota |
| DTP FAMILY DYNASTY TRUST | South Dakota |
| A.N.P. TRUST #18 THOMAS JNP | South Dakota |
| A.N.P. TRUST #18 THOMAS DTP | South Dakota |
| A.N.P. TRUST #18 THOMAS BTP | South Dakota |
| R.A. G.C. TRUST #1 BTP | South Dakota |
| R.A. G.C. TRUST #1 DTP | South Dakota |
| DON G.C. TRUST #1 DTP | South Dakota |
| R.A. G.C. TRUST #1 JNP | South Dakota |
| DON G.C. TRUST #1 JNP | South Dakota |
| DON G.C. TRUST #1 BTP | South Dakota |
| JNP WASHINGTON TRUST | South Dakota |
| BELLEVIEW TRUST (OR #37) JNP | South Dakota |
| BTP WASHINGTON TRUST | South Dakota |
| DTP WASHINGTON TRUST | South Dakota |
| BLY TRUST (OR #38) BTP | South Dakota |

---

**<u>Appendix 3</u>**

---

| | |
|:---|:---|
| **Name of Trust** | **Jurisd. of Org.** |
| ECI QSST Trust No. 4 | South Dakota |

---

**<u>Appendix 4</u>**

---

| | |
|:---|:---|
| **Name of Trust** | **Jurisd. of Org.** |
| ECI QSST Trust No. 5 | South Dakota |

---

**<u>Appendix 5</u>**

---

| | |
|:---|:---|
| **Name of Trust** | **Jurisd. of Org.** |
| ECI QSST Trust No. 6 | South Dakota |

---

**<u>Appendix 6</u>**

---

| | |
|:---|:---|
| **Name of Trust** | **Jurisd. of Org.** |
| TJP Revocable Trust | Illinois |

---

## Ex-27

**Exhibit 27**

**<u>Schedule A</u>**

**Certain Information Regarding the<br> Reporting Persons<sup>1</sup>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Class A**<br> **Common Stock<sup>2</sup>** | **Class A**<br> **Common Stock<sup>2</sup>** | **Class B**<br> **Common Stock<sup>3</sup>** | **Class B**<br> **Common Stock<sup>3</sup>** | | |
| <br>**Name of Beneficial Owner**<br>| **Shares** | **% of Class A** | **Shares** | **% of Class B** | **% of Total**<br>**Common**<br> **Stock<u><sup>4</sup></u>** | **% of Total**<br>**Voting**<br> **Power<sup>5</sup>** |
| Maroon Private Trust Company, LLC, solely in the capacity as trustee of the trusts listed on Appendix 1, 2, 3, 4 and 5 of Exhibit 26.<sup>6</sup> |  |  | 20827553 | 39.2% | 21.8% | 36.3% |
| THHC, L.L.C.<sup>6</sup> |  |  | 11338027 | 21.3% | 11.9% | 19.8% |
| T11 HHC, LLC<sup>6</sup> |  |  | 11338027 | 21.3% | 11.9% | 19.8% |
| Thomas J. Pritzker, as trustee of the trust listed on Appendix 6 of Exhibit 26, and as trustee of Maroon Trust, solely in such trust's capacity as the member of Maroon Private Trust Company, LLC, and individually<sup>67</sup> | 749537 | 1.8% | 20878516 | 39.3% | 22.7% | 36.5% |
| JNP ECI Investments, LLC<sup>6</sup> |  |  | 3413 | \* | \* | \* |
| BTP ECI Investments, LLC<sup>6</sup> |  |  | 5971 | \* | \* | \* |
| DTP ECI Investments, LLC<sup>6</sup> |  |  | 5971 | \* | \* | \* |
| Jason Pritzker, individually | 2588 | \* |  |  | \* | \* |

---

\* Less than 1% beneficial ownership

 

<sup>1</sup> All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as adjusted to account for the conversion of an aggregate of 364,620 shares of Class B Common Stock into 364,620 shares of Class A Common Stock in connection with sales by a Separately Filing Group Member on May 14, 2025.

<sup>2</sup> The information shown in the table with respect to the percentage of Class A Common Stock beneficially owned is based on 42,308,329 shares of Class A Common Stock outstanding as of April 25, 2025, as adjusted, assuming that no additional outstanding shares of Class B Common Stock have been converted into shares of Class A Common Stock.

<sup>3</sup> The information shown in the table with respect of the percentage of Class B Common Stock beneficially owned is based on 53,147,958 shares of Class B Common Stock outstanding as of April 25, 2025, as adjusted, assuming that no additional outstanding shares of Class B Common Stock have been converted into shares of Class A Common Stock.

<sup>4</sup> The information shown in the table with respect to the percentage of total Common Stock beneficially owned is based on 42,308,329 shares of Class A Common Stock and 53,147,958 shares of Class B Common Stock outstanding as of April 25, 2025, as adjusted.

<sup>5</sup> With respect to matters upon which the Issuer's stockholders are entitled to vote, the holders of Class A Common Stock and Class B Common Stock vote together as a single class, and each holder of Class A Common Stock is entitled to one vote per share and each holder of Class B Common Stock is entitled to ten votes per share. The percentage of total voting power of the shares of Common Stock is calculated based on the total voting power of the shares of Common Stock outstanding as of April 25, 2025, as adjusted, which is comprised of 42,308,329 shares of Class A Common Stock and 53,147,958 shares of Class B Common Stock and assumes that no additional outstanding shares of Class B Common Stock have been converted into shares of Class A Common Stock.

<sup>6</sup> THHC, L.L.C. is a member-managed Delaware limited liability company and directly holds 11,338,027 shares of Class B Common Stock. T11 HHC, LLC is a member-managed Delaware limited liability company and the controlling member of THHC, L.L.C., and in such capacity may be deemed to beneficially own such shares of Class B Common Stock. Maroon Private Trust Company, LLC is a manager-managed South Dakota limited liability company and the trustee of (i) the trust listed on Appendix 1 of Exhibit 26, which is the sole member of T11 HHC, LLC, and in such capacity may be deemed to beneficially own the shares of Class B Common Stock deemed to be beneficially owned by T11 HHC, LLC, (ii) the trusts listed on Appendix 2 of Exhibit 26, and in such capacity may be deemed to beneficially own an additional 9,474,171 shares of Class B Common Stock, (iii) the trust listed on Appendix 3 of Exhibit 26, which is the sole member of JNP ECI Investments, LLC, and in such capacity may be deemed to beneficially own an additional 3,413 shares of Class B Common Stock, (iv) the trust listed on Appendix 4 of Exhibit 26, which is the sole member of BTP ECI Investments, LLC, and in such capacity may be deemed to beneficially own an additional 5,971 shares of Class B Common Stock, and (v) the trust listed on Appendix 5 of Exhibit 26, which is the sole member of DTP ECI Investments, LLC, and in such capacity may be deemed to beneficially own an additional 5,971 shares of Class B Common Stock. Maroon Trust is the sole member of Maroon Private Trust Company, LLC and in such capacity may be deemed to beneficially own such shares of Class B Common Stock. Thomas J. Pritzker is the trustee of Maroon Trust and in such capacity may, for the purposes hereof, be deemed to beneficially own such shares of Class B Common Stock. Except as noted below, the investment decisions of Maroon Private Trust Company, LLC are made by the Trust Committee of its board of managers, consisting of Thomas J. Pritzker, John A. Miller, Paula H. McMenamin, Marshall E. Eisenberg and Derek Arend. Except as noted below, the voting decisions of Maroon Private Trust Company, LLC are made by the independent members of the Trust Committee, consisting of John A. Miller, Paula H. McMenamin, Marshall E. Eisenberg and Derek Arend. The members of the Trust Committee disclaim beneficial ownership as a result of serving on the Trust Committee. The investment decisions of Maroon Private Trust Company, LLC, as trustee of Margot and Tom Pritzker Foundation, are made by the Foundation Committee of its board of managers, consisting of Thomas J. Pritzker, John A. Miller, Paula H. McMenamin, Marshall E. Eisenberg and Derek Arend. The voting decisions of Maroon Private Trust Company, LLC, as trustee of Margot and Tom Pritzker Foundation, are made by the independent members of the Foundation Committee, consisting of John A. Miller, Paula H. McMenamin, Marshall E. Eisenberg and Derek Arend. The members of the Foundation Committee disclaim beneficial ownership as a result of serving on the Foundation Committee. Each of JNP ECI Investments, LLC, BTP ECI Investments, LLC and DTP ECI Investments, LLC is a manager-managed South Dakota limited liability company. The investment and voting decisions of each of JNP ECI Investments, LLC, BTP ECI Investments, LLC and DTP ECI Investments, LLC are made by their respective boards of managers, consisting, in each case, of Derek Arend, Marshall Eisenberg and Edward W. Rabin. The members of such boards of managers disclaim beneficial ownership as a result of serving on such boards.

<sup>7</sup> Thomas J. Pritzker holds the following stock appreciation rights ("SARs") that are currently exercisable or will become exercisable within sixty days: (a) 212,967 SARs at an exercise price of $80.02; (b) 292,226 SARs at an exercise price of $71.67; (c) 563,063 SARs at an exercise price of $48.66; (d) 174,337 SARs at an exercise price of $80.46; (e) 109,386 SARs at an exercise price of $95.06; (f) 61,804 SARs at an exercise price of $111.71; and (g) 22,519 SARs at an exercise price of $157.11. Each SAR gives the holder the right to receive a number of shares of Class A Common Stock equal to the excess of the value of one share of Class A Common Stock at the exercise date, over the exercise price. The number of shares of Class A Common Stock that Mr. Pritzker will receive upon exercise of such SARs is not determinable until the date of exercise and therefore is not included in the information above. Thomas J. Pritzker is also the grantor of the trust set forth on Appendix 6 of Exhibit 26, and has the right to revoke the trust at any time without the consent of another person. As a result he could be deemed to be the sole beneficial owner of the shares owned by such trust.

## Ex-28

**Exhibt 28**

**<u>Schedule B</u>**

**Certain Information Regarding the**

**Separately Filing Group Members<sup>i</sup>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Class A**<br> **Common Stock<sup>ii</sup>** | **Class A**<br> **Common Stock<sup>ii</sup>** | **Class B**<br> **Common Stock<sup>iii</sup>** | **Class B**<br> **Common Stock<sup>iii</sup>** | | |
| <br>**Separately Filing Group Member** | **Shares** | **% of**<br> **Class A** | **Shares** | **% of**<br> **Class B** | **% of Total**<br> **Common**<br> **Stock<sup>iv</sup>** | **% of Total**<br>**Voting**<br> **Power<sup>v</sup>** |
| FirstCaribbean International Trust Company (Bahamas) Limited in its capacity as trustee and Other Reporting Persons<sup>vi</sup> |  |  | 673350 | 1.3% | \* | 1.2% |
| Trustees of the Thomas J. Pritzker Family Trusts and Other Reporting Persons<sup>vii</sup> | 752125 | 1.8% | 20878516 | 39.3% | 22.7% | 36.5% |
| Trustees of the Nicholas J. Pritzker Family Trusts and Other Reporting Persons<sup>viii</sup> |  |  | 70000 | \* | \* | \* |
| Trustees of the Jennifer N. Pritzker Family Trusts and Other Reporting Persons<sup>ix</sup> |  |  | 1580755 | 3.0% | 1.7% | 2.8% |
| Trustees of the Linda Pritzker Family Trusts<sup>x</sup> |  |  |  |  |  |  |
| Trustees of the Karen L. Pritzker Family Trusts<sup>xi</sup> |  |  | 3606816 | 6.8% | 3.8% | 6.3% |
| Trustee of the Penny Pritzker Family Trusts and Other Reporting Persons<sup>xii</sup> | 14650 | \* | 6511568 | 12.3% | 6.8% | 11.4% |
| Trustees of the Daniel F. Pritzker Family Trusts and Other Reporting Persons<sup>xiii</sup> |  |  | 1922 | \* | \* | \* |
| Trustees of the Gigi Pritzker Pucker Family Trusts and Other Reporting Persons<sup>xiv</sup> |  |  | 17554636 | 33.0% | 18.4% | 30.6% |
| **Pritzker Family Group Totals** | 766775 | 1.8% | 50877563 | 95.7% | 54.1% | 88.8% |

---

\* Less than 1% beneficial ownership

<sup>i</sup> All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as adjusted to account for the conversion of an aggregate of 364,620 shares of Class B Common Stock into 364,620 shares of Class A Common Stock in connection with sales by a Separately Filing Group Member on May 14, 2025.

<sup>ii</sup> The information shown in the table with respect to the percentage of Class A Common Stock beneficially owned is based on 42,308,329 shares of Class A Common Stock outstanding as of April 25, 2025, as adjusted, assuming that no additional outstanding shares of Class B Common Stock have been converted into shares of Class A Common Stock.

<sup>iii</sup> The information shown in the table with respect of the percentage of Class B Common Stock beneficially owned is based on 53,147,958 shares of Class B Common Stock outstanding as of April 25, 2025, as adjusted, assuming that no additional outstanding shares of Class B Common Stock have been converted into shares of Class A Common Stock.

<sup>iv</sup> The information shown in the table with respect to the percentage of total Common Stock beneficially owned is based on 42,308,329 shares of Class A Common Stock and 53,147,958 shares of Class B Common Stock outstanding as of April 25, 2025, as adjusted.

<sup>v</sup> With respect to matters upon which the Issuer's stockholders are entitled to vote, the holders of Class A Common Stock and Class B Common Stock vote together as a single class, and each holder of Class A Common Stock is entitled to one vote per share and each holder of Class B Common Stock is entitled to ten votes per share. The percentage of total voting power of the shares of Common Stock is calculated based on the total voting power of the shares of Common Stock outstanding as of April 25, 2025, as adjusted, which is comprised of 42,308,329 shares of Class A Common Stock and 53,147,958 shares of Class B Common Stock and assumes that no additional outstanding shares of Class B Common Stock have been converted into shares of Class A Common Stock.

<sup>vi</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by the CIBC Trust Company (Bahamas) Limited, solely as trustee of the Non-U.S. Situs Trusts listed on Appendix A to the Schedule 13D, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>vii</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Marshall E. Eisenberg, not individually, but solely as trustee of certain trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office. Thomas J. Pritzker holds the following stock appreciation rights ("SARs") that are currently exercisable or will become exercisable within sixty days: (a) 212,967 SARs at an exercise price of $80.02; (b) 292,226 SARs at an exercise price of $71.67; (c) 563,063 SARs at an exercise price of $48.66; (d) 174,337 SARs at an exercise price of $80.46; (e) 109,386 SARs at an exercise price of $95.06; (f) 61,804 SARs at an exercise price of $111.71; and (g) 22,519 SARs at an exercise price of $157.11. Each SAR gives the holder the right to receive a number of shares of Class A Common Stock equal to the excess of the value of one share of Class A Common Stock at the exercise date, over the exercise price. The number of shares of Class A Common Stock that Mr. Pritzker will receive upon exercise of such SARs is not determinable until the date of exercise and therefore is not included in the information above. .

<sup>viii</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Marshall E. Eisenberg, not individually, but solely as trustee of certain trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>ix</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Charles E. Dobrusin and Harry B. Rosenberg, not individually, but solely as co-trustees of certain trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>x</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Lewis M. Linn, not individually, but solely as trustee for the trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>xi</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Walter W. Simmers, Andrew D. Wingate and Lucinda Falk, not individually, but solely as co-trustees for the trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>xii</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by John Kevin Poorman, not individually, but solely as trustee of certain trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>xiii</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Lewis M. Linn, not individually, but solely as trustee for the trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

<sup>xiv</sup> *See* the Schedule 13D filed on August 26, 2010, as amended, by Gigi Pritzker Pucker and Edward W. Rabin, not individually, but solely as trustees of certain trusts listed on Appendix A-1 to the Schedule 13D, and the other Reporting Persons named therein on, which includes information regarding the filer's jurisdiction of organization, principal business, and address of principal office.

## Ex-29

**Exhibit 29**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13D with respect to the Class A Common Stock, $0.01 par value per share, of Hyatt Hotels Corporation beneficially owned by them on a combined basis, and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filing. The undersigned further agree that any amendments to such statement on Schedule 13D shall be filed jointly on behalf of each of them without the necessity of entering into additional joint filing agreements.

The undersigned further agree that each party hereto is responsible for timely filing of such statement on Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein; provided that no party is responsible for the completeness or accuracy of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.

The undersigned shall not be deemed to admit that the undersigned was required to file a statement on Schedule 13D by reason of entering into this Joint Filing Agreement.

This Joint Filing Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original instrument, but all of such counterparts together shall constitute but one agreement.

When this Joint Filing Agreement is executed by a trustee of a trust, such execution is by the trustee, not individually, but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing contained in this Joint Filing Agreement shall be construed as granting any power over a trustee's individual affairs or imposing any liability on any such trustee personally for breaches of any representations or warranties made hereunder or personally to pay any amounts required to be paid hereunder, or personally to perform any covenant, either express or implied, contained herein. Any liability of a trust or trustee hereunder shall not be a personal liability of any trustee, grantor or beneficiary thereof, and any recourse against a trustee shall be solely against the assets of the pertinent trust.

[*Signature Page Follows*]

 

In evidence thereof the undersigned, being duly authorized, hereby execute this Joint Filing Agreement as of this 2<sup>nd</sup> day of June, 2025.

---

| | |
|:---|:---|
| **Maroon Private Trust Company, LLC**, solely as trustee of the trusts listed on <u>Schedule 1</u>. | **Maroon Private Trust Company, LLC**, solely as trustee of the trusts listed on <u>Schedule 1</u>. |
| By: | /s/ Derek Arend |
|  | Derek Arend |
|  | President |
| **THHC, L.L.C.** | **THHC, L.L.C.** |
| By: | /s/ Derek Arend |
|  | Derek Arend |
|  | President |
| **T11 HHC, LLC** | **T11 HHC, LLC** |
| By: | /s/ Derek Arend |
|  | Derek Arend |
|  | President |

---

---

| |
|:---|
| /s/ Thomas J. Pritzker |
| Thomas J. Pritzker, as trustee of the trust listed on <u>Schedule 2</u>, as trustee of Maroon Trust, solely in such trust's capacity as the member of Maroon Private Trust Company, LLC, and individually  |

---

---

| | |
|:---|:---|
| **JNP ECI Investments, LLC** | **JNP ECI Investments, LLC** |
| By: | /s/ Derek Arend |
|  | Derek Arend |
|  | President |

---

[Signature Page to Joint Filing Agreement]

---

| | |
|:---|:---|
| **BTP ECI Investments, LLC** | **BTP ECI Investments, LLC** |
| By: | /s/ Derek Arend |
|  | Derek Arend |
|  | President |
| **DTP ECI Investments, LLC** | **DTP ECI Investments, LLC** |
| By: | /s/ Derek Arend |
|  | Derek Arend |
|  | President |

---

---

| |
|:---|
| /s/ Jason Pritzker |
| Jason Pritzker, individually |

---

[Signature Page to Joint Filing Agreement]

**<u>Schedule 1</u>**

---

| | |
|:---|:---|
| **Name of Trusts** | **Jurisd. of Org.** |
| F.L.P. Trust #11 | South Dakota |
| Trust TJP-PTA | Bahamas |
| PDTA Tom Trust | South Dakota |
| PDTB Tom Trust | South Dakota |
| NPDT Jason Trust | South Dakota |
| NPDT Benjamin Trust | South Dakota |
| NPDT David Trust | South Dakota |
| Margot and Tom Pritzker Foundation | South Dakota |
| BENJAMIN T. PRITZKER DYNASTY TRUST | South Dakota |
| JASON N. PRITZKER DYNASTY TRUST | South Dakota |
| DAVID T. PRITZKER DYNASTY TRUST | South Dakota |
| BENJAMIN T. PRITZKER FAMILY TRUST | South Dakota |
| JASON N. PRITZKER FAMILY TRUST | South Dakota |
| DAVID T. PRITZKER FAMILY TRUST | South Dakota |
| BTP FAMILY DYNASTY TRUST | South Dakota |
| JNP FAMILY DYNASTY TRUST | South Dakota |
| DTP FAMILY DYNASTY TRUST | South Dakota |
| A.N.P. TRUST #18 THOMAS JNP | South Dakota |
| A.N.P. TRUST #18 THOMAS DTP | South Dakota |
| A.N.P. TRUST #18 THOMAS BTP | South Dakota |
| R.A. G.C. TRUST #1 BTP | South Dakota |
| R.A. G.C. TRUST #1 DTP | South Dakota |
| DON G.C. TRUST #1 DTP | South Dakota |
| R.A. G.C. TRUST #1 JNP | South Dakota |
| DON G.C. TRUST #1 JNP | South Dakota |
| DON G.C. TRUST #1 BTP | South Dakota |
| JNP WASHINGTON TRUST | South Dakota |
| BELLEVIEW TRUST (OR #37) JNP | South Dakota |
| BTP WASHINGTON TRUST | South Dakota |
| DTP WASHINGTON TRUST | South Dakota |
| BLY TRUST (OR #38) BTP | South Dakota |
| ECI QSST Trust No. 4 | South Dakota |
| ECI QSST Trust No. 5 | South Dakota |
| ECI QSST Trust No. 6 | South Dakota |

---

**<u>Schedule 2</u>**

---

| | |
|:---|:---|
| **Name of Trust** | **Jurisd. of Org.** |
| TJP Revocable Trust | Illinois |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 31)**

**Hyatt Hotels Corp**

*(Name of Issuer)*

**Class A Common Stock, $0.01 par value per share**

*(Title of Class of Securities)*

**448579102**

*(CUSIP Number)*

**C. Birkeland & A. Berlin**<br>Latham & Watkins LLP<br>330 N. Wabash Avenue, Suite 2800<br>Chicago IL 60611<br>312-876-7700

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/29/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Maroon Private Trust Company, LLC, as trustee of the trusts listed on Appendix 1, 2, 3, 4 and 5 of Exhibit 26** | Name of reporting person<br>**Maroon Private Trust Company, LLC, as trustee of the trusts listed on Appendix 1, 2, 3, 4 and 5 of Exhibit 26** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**20827553.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**20827553.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**20827553.00** | Aggregate amount beneficially owned by each reporting person<br>**20827553.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**21.8%** | Percent of class represented by amount in Row (11)<br>**21.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Represents shares of the Issuer's Class A Common Stock, $0.01 par value per share (the "Class A Common Stock"), issuable upon conversion of shares of the Issuer's Class B Common Stock, $0.01 par value per share (the "Class B Common Stock" and, together with the Class A Common Stock, the "Common Stock"). As provided in the Issuer's Amended and Restated Certificate of Incorporation (the "Charter"), each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members. Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**THHC, L.L.C.** | Name of reporting person<br>**THHC, L.L.C.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**11338027.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**11338027.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**11338027.00** | Aggregate amount beneficially owned by each reporting person<br>**11338027.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.9%** | Percent of class represented by amount in Row (11)<br>**11.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock issuable upon conversion of shares of Class B Common Stock. As provided in the Charter, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members.  Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**T11 HHC, LLC** | Name of reporting person<br>**T11 HHC, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**11338027.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**11338027.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**11338027.00** | Aggregate amount beneficially owned by each reporting person<br>**11338027.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.9%** | Percent of class represented by amount in Row (11)<br>**11.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock issuable upon conversion of shares of Class B Common Stock. As provided in the Charter, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members.  Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Thomas J. Pritzker, as trustee of the trust listed on Appendix 6 of Exhibit 26, as trustee of Maroon Trust, and individually** | Name of reporting person<br>**Thomas J. Pritzker, as trustee of the trust listed on Appendix 6 of Exhibit 26, as trustee of Maroon Trust, and individually** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**21628053.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**21628053.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**21628053.00** | Aggregate amount beneficially owned by each reporting person<br>**21628053.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**22.7%** | Percent of class represented by amount in Row (11)<br>**22.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock and shares of Class A Common Stock issuable upon conversion of shares of Class B Common Stock. As provided in the Charter, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members. Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

Thomas J. Pritzker holds the following stock appreciation rights ("SARs") that are currently exercisable or will become exercisable within sixty days: (a) 212,967 SARs at an exercise price of $80.02; (b) 292,226 SARs at an exercise price of $71.67; (c) 563,063 SARs at an exercise price of $48.66; (d) 174,337 SARs at an exercise price of $80.46; (e) 109,386 SARs at an exercise price of $95.06; (f) 61,804 SARs at an exercise price of $111.71; and (g) 22,519 SARs at an exercise price of $157.11. Each SAR gives the holder the right to receive a number of shares of Class A Common Stock equal to the excess of the value of one share of Class A Common Stock at the exercise date, over the exercise price. The number of shares of Class A Common Stock that Mr. Pritzker will receive upon exercise of such SARs is not determinable until the date of exercise and therefore is not included in the information above.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**JNP ECI Investments, LLC** | Name of reporting person<br>**JNP ECI Investments, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**3413.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**3413.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3413.00** | Aggregate amount beneficially owned by each reporting person<br>**3413.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock issuable upon conversion of shares of Class B Common Stock. As provided in the Charter, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members.  Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BTP ECI Investments, LLC** | Name of reporting person<br>**BTP ECI Investments, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5971.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5971.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5971.00** | Aggregate amount beneficially owned by each reporting person<br>**5971.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock issuable upon conversion of shares of Class B Common Stock. As provided in the Charter, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members.  Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**DTP ECI Investments, LLC** | Name of reporting person<br>**DTP ECI Investments, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5971.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5971.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5971.00** | Aggregate amount beneficially owned by each reporting person<br>**5971.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock issuable upon conversion of shares of Class B Common Stock. As provided in the Charter, each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members.  Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

| **CUSIP No.** | **448579102** |

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| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jason Pritzker, individually** | Name of reporting person<br>**Jason Pritzker, individually** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2588.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2588.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2588.00** | Aggregate amount beneficially owned by each reporting person<br>**2588.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Represents shares of Class A Common Stock.

The Reporting Person is party to certain agreements with the Separately Filing Group Members (as defined in the Schedule 13D), which agreements contain, among other things, certain voting agreements and limitations on the sale of their shares of Common Stock. As a result, the Reporting Person may be deemed to be a member of a "group," within the meaning of Section 13(d)(3) of the Act (as defined in the Schedule 13D), comprised of the Reporting Person and the Separately Filing Group Members.  Shares listed as beneficially owned by the Reporting Person exclude shares held by any other Reporting Person or by any of the Separately Filing Group Members, in each case as to which the Reporting Person disclaims beneficial ownership.

All references to the number of shares outstanding are as of April 25, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The percentage is calculated using the total number of shares of Common Stock beneficially owned by the Reporting Person and based on 95,456,287 shares of Common Stock outstanding as of April 25, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, $0.01 par value per share

**(b) Name of Issuer:**
Hyatt Hotels Corp

**(c) Address of Issuer's Principal Executive Offices:**
150 North Riverside Plaza, 8th Floor, Chicago, IL, 60606

This Amendment No. 31 to Schedule 13D ("Amendment No. 31") amends and supplements the Schedule 13D originally filed by the Reporting Persons on April 26, 2010 (as amended to date, the "Schedule 13D"). Capitalized terms used herein without definition shall have the meaning set forth in the Schedule 13D.

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is amended and supplemented as follows:

The 2024 SARs Exercise was completed on December 24, 2024, as described in Item 3 of this Amendment No. 31.

The December 2024 Transfer was completed on December 24, 2024, as described in Item 3 of this Amendment No. 31.

On May 29, 2025, Marshall E. Eisenberg ceased to be the co-trustee of the trust listed on Appendix 6 of Exhibit 26.

The May 2025 Transfers were completed on May 29, 2025, as described in Item 3 of this amendment No. 31.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 of the Schedule 13D is amended and supplemented as follows:

As of the date hereof, the Reporting Persons in the aggregate may be deemed to be the beneficial  owners of 752,125 shares of currently issued Class A Common Stock and 20,878,516 shares of  Class B Common Stock beneficially owned by the Reporting Persons. Based on the number of  shares of Class B Common Stock outstanding as of April 25, 2025, as reported in the Issuer's  Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as adjusted to  account for the conversion of an aggregate of 364,620 shares of Class B Common Stock into  364,620 shares of Class A Common Stock in connection with sales by a Separately Filing Group  Member on May 14, 2025, the number of shares of Class B Common Stock beneficially owned by  the Reporting Persons represents 39.3% of the total number of shares of Class B Common Stock  outstanding. Based on the number of shares of Common Stock outstanding as of April 25, 2025, as  adjusted, the number of shares of Common Stock beneficially owned by the Reporting Persons  represents 22.7% of the total number of shares of Common Stock outstanding and 36.5% of the total  voting power of the shares of Common Stock outstanding, voting together as a single class,  assuming that no additional outstanding shares of Class B Common Stock have been converted into  shares of Class A Common Stock.

Thomas J. Pritzker holds the following SARs that are currently exercisable or will becomeexercisable within sixty days: (a) 212,967 SARs at an exercise price of $80.02; (b) 292,226 SARs atan exercise price of $71.67; (c) 563,063 SARs at an exercise price of $48.66; (d) 174,337 SARs atan exercise price of $80.46; (e) 109,386 SARs at an exercise price of $95.06; (f) 61,804 SARs at anexercise price of $111.71; and (g) 22,519 SARs at an exercise price of $157.11. Each SAR gives theholder the right to receive a number of shares of Class A Common Stock equal to the excess of thevalue of one share of Class A Common Stock at the exercise date, over the exercise price. Thenumber of shares of Class A Common Stock that Mr. Pritzker will receive upon exercise of such
SARs is not determinable until the date of exercise and therefore is not included in the informationabove.

Exhibit 27 filed with this Amendment No. 31 amends and restates, in its entirety, Schedule Apreviously attached to the Schedule 13D. Exhibit 27 attached to this Amendment No. 31 sets forth,as of the date hereof, the number of shares and percentage of the Class A Common Stockoutstanding, the number of shares and percentage of the Class B Common Stock outstanding, thepercentage of the total number of shares of Common Stock outstanding, and the percentage of thetotal voting power of the shares of Common Stock outstanding, voting together as a single class,represented by the shares beneficially owned by each Reporting Person. With respect to mattersupon which the Issuer's stockholders are entitled to vote, the holders of Class A Common Stock and
Class B Common Stock vote together as a single class, and each holder of Class A Common Stockis entitled to one vote per share and each holder of Class B Common Stock is entitled to ten votesper share.

THHC, L.L.C. is a member-managed Delaware limited liability company and directly holds
11,338,027 shares of Class B Common Stock. T11 HHC, LLC is a member-managed Delawarelimited liability company and the controlling member of THHC, L.L.C., and in such capacity may bedeemed to beneficially own such shares of Class B Common Stock. Maroon Private Trust Company,
LLC is a manager-managed South Dakota limited liability company and the trustee of (i) the trustlisted on Appendix 1 of Exhibit 26, which is the sole member of T11 HHC, LLC, and in such capacitymay be deemed to beneficially own the shares of Class B Common Stock deemed to be beneficiallyowned by T11 HHC, LLC, (ii) the trusts listed on Appendix 2 of Exhibit 26, and in such capacity maybe deemed to beneficially own an additional 9,474,171 shares of Class B Common Stock, (iii) thetrust listed on Appendix 3 of Exhibit 26, which is the sole member of JNP ECI Investments, LLC, andin such capacity may be deemed to beneficially own an additional 3,413 shares of Class B Common
Stock, (iv) the trust listed on Appendix 4 of Exhibit 26, which is the sole member of BTP ECI
Investments, LLC, and in such capacity may be deemed to beneficially own an additional 5,971shares of Class B Common Stock, and (v) the trust listed on Appendix 5 of Exhibit 26, which is thesole member of DTP ECI Investments, LLC, and in such capacity may be deemed to beneficially ownan additional 5,971 shares of Class B Common Stock. Maroon Trust is the sole member of Maroon
Private Trust Company, LLC and in such capacity may be deemed to beneficially own such shares of
Class B Common Stock. Thomas J. Pritzker is the trustee of Maroon Trust and in such capacity may,for the purposes hereof, be deemed to beneficially own such shares of Class B Common Stock.
Except as noted below, the investment decisions of Maroon Private Trust Company, LLC are madeby the Trust Committee of its board of managers, consisting of Thomas J. Pritzker, John A. Miller,
Paula H. McMenamin, Marshall E. Eisenberg and Derek Arend. Except as noted below, the votingdecisions of Maroon Private Trust Company, LLC are made by the independent members of the
Trust Committee, consisting of John A. Miller, Paula H. McMenamin, Marshall E. Eisenberg and
Derek Arend. The members of the Trust Committee disclaim beneficial ownership as a result ofserving on the Trust Committee. The investment decisions of Maroon Private Trust Company, LLC,as trustee of Margot and Tom Pritzker Foundation, are made by the Foundation Committee of itsboard of managers, consisting of Thomas J. Pritzker, John A. Miller, Paula H. McMenamin, Marshall
E. Eisenberg and Derek Arend. The voting decisions of Maroon Private Trust Company, LLC, astrustee of Margot and Tom Pritzker Foundation, are made by the independent members of the
Foundation Committee, consisting of John A. Miller, Paula H. McMenamin, Marshall E. Eisenbergand Derek Arend. The members of the Foundation Committee disclaim beneficial ownership as aresult of serving on the Foundation Committee. Each of JNP ECI Investments, LLC, BTP ECI
Investments, LLC and DTP ECI Investments, LLC is a manager-managed South Dakota limitedliability company. The investment and voting decisions of each of JNP ECI Investments, LLC, BTP
ECI Investments, LLC and DTP ECI Investments, LLC are made by their respective boards ofmanagers, consisting, in each case, of Derek Arend, Marshall Eisenberg and Edward W. Rabin. Themembers of such boards of managers disclaim beneficial ownership as a result of serving on suchboards.

Based solely on the information contained in the Schedule 13Ds, as amended, filed by the
Separately Filing Group Members, as of the date hereof, the Pritzker Family Group in the aggregatemay be deemed to be the beneficial owners of 766,775 shares of currently issued Class A Common
Stock and 50,877,563 shares of Class A Common Stock issuable upon conversion of 50,877,563shares of Class B Common Stock beneficially owned by the Pritzker Family Group. The number ofshares of Class A Common Stock beneficially owned by the Pritzker Family Group and currentlyissued represents 1.8% of the total number of shares of Class A Common Stock outstanding,assuming that no additional outstanding shares of Class B Common Stock have been converted intoshares of Class A Common Stock. The number of shares of Class B Common Stock beneficiallyowned by the Pritzker Family Group represents 95.7% of the total number of shares of Class B
Common Stock outstanding. The number of shares of Common Stock beneficially owned by the
Pritzker Family Group represents 54.1% of the total number of shares of Common Stock outstandingand 88.8% of the total voting power of the shares of Common Stock outstanding, voting together asa single class, assuming that no additional outstanding shares of Class B Common Stock have beenconverted into shares of Class A Common Stock.

Exhibit 28 filed with this Amendment No. 31 amends and restates, in its entirety, Schedule Bpreviously attached to the Schedule 13D. Exhibit 28 attached to this Amendment No. 31 sets forth,as of the date hereof, the number of shares and percentage of the Class A Common Stockoutstanding, the number of shares and percentage of the Class B Common Stock outstanding, thepercentage of the total number of shares of Common Stock outstanding, and the percentage of thetotal voting power of the shares of Common Stock outstanding, voting together as a single class,represented by the shares beneficially owned by the Reporting Persons and each Separately Filing
Group Member. All information with regard to the Separately Filing Group Members is based solelyon the information contained in the Schedule 13Ds filed by the Separately Filing Group Members.
With respect to matters upon which the Issuer's stockholders are entitled to vote, the holders of
Class A Common Stock and Class B Common Stock vote together as a single class, and eachholder of Class A Common Stock is entitled to one vote per share and each holder of Class B
Common Stock is entitled to ten votes per share.

**(b)**
See Item 5(a)

**(c)**
Item 5 of the Schedule 13D is amended and supplemented as follows:

Based solely on information contained in the Form 4 filings filed on May 16, 2025 by another Separately Filing Group Member, such Separately Filing Group Member sold an aggregate of 364,620 shares of Class B Common Stock.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is amended and supplemented as follows:

On May 29, 2025, JNP ECI Investments, LLC, BTP ECI Investments, LLC, DTP ECI Investments LLC, and Maroon Private Trust Company, LLC, as trustee of certain trusts listed on Appendix 2  and the trusts listed on Appendix 3, 4 and 5 of Exhibit 26, each executed a joinder to, and thereby became subject to the provisions of, each of the Global Hyatt Agreement and the Foreign Global Hyatt Agreement.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Maroon Private Trust Company, LLC, as trustee of the trusts listed on Appendix 1, 2, 3, 4 and 5 of Exhibit 26

**Signature:** /s/ Derek Arend

**Name/Title:** Derek Arend, President

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** THHC, L.L.C.

**Signature:** /s/ Derek Arend

**Name/Title:** Derek Arend, President

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** T11 HHC, LLC

**Signature:** /s/ Derek Arend

**Name/Title:** Derek Arend, President

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Thomas J. Pritzker, as trustee of the trust listed on Appendix 6 of Exhibit 26, as trustee of Maroon Trust, and individually

**Signature:** /s/ Thomas J. Pritzker

**Name/Title:** Thomas J. Pritzker

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** JNP ECI Investments, LLC

**Signature:** /s/ Derek Arend

**Name/Title:** Derek Arend, President

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BTP ECI Investments, LLC

**Signature:** /s/ Derek Arend

**Name/Title:** Derek Arend, President

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** DTP ECI Investments, LLC

**Signature:** /s/ Derek Arend

**Name/Title:** Derek Arend, President

**Date:** 06/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Jason Pritzker, individually

**Signature:** /s/ Jason Pritzker

**Name/Title:** Jason Pritzker

**Date:** 06/02/2025