About Our Supplier Diversity Program
Hyatt, founded in 1957 by Jay Pritzker, continues to be guided by the spirit that fostered the formation and growth of our company for more than fifty years. Our roots give us a perspective shared by businesspeople seeking to develop their companies and reach new levels of success. In our efforts to increase our overall purchasing with minority and women-owned businesses, we established benchmarks/goals for our managed properties. To help us reach our goals, we contracted with CVM Solutions, a company that provides supplier relationship management tools to manage the location, registration, and qualification of suppliers.
To be a part of Hyatt’s Supplier Diversity Program, a supplier must meet one of the following criteria:
Minority Business Enterprise (MBE) - a sole proprietorship, partnership, corporation, or joint venture in which a minimum of 51% is owned, operated and controlled by one of more minorities. In the case of a corporation, minority stockholders must be in control of the management and daily business operations, and a majority of the directors must be minority group members.
Women Business Enterprise (WBE) - a sole proprietorship, partnership, corporation, or joint venture in which a minimum of 51% is owned, operated and controlled by a woman. In the case of a corporation, women stockholders must be in control of the management and daily business operations, and a majority of the directors must be women.
Disabled Veterans (DVBE) – a privately or publicly owned company where one or more disabled veterans hold at least 51% of the control or ownership. Nationwide, the Association of Service Disabled Veterans certifies DVBEs.
Lesbian, Gay, Bisexual, and/or Transgender owned Business Enterprise (LGBTBE) - be at least fifty-one percent (51%) owned, operated, managed, and controlled by an LGBT person or persons who are either U.S. citizens or lawful permanent residents. Exercise independence from any non-LGBT business enterprise, have its principal place of business (headquarters) in the United States and have been formed as a legal entity in the United States