CHICAGO--(BUSINESS WIRE)--Nov 2, 2026--
Hyatt Hotels Corporation (NYSE: H) today announced that Stephen Ho will become Group President, Asia Pacific, effective January 1, 2027. David Udell, who has led the region since 2014, will retire from his current role effective December 31, 2026, and continue with Hyatt as a Senior Advisor focused on developing future hospitality leaders and supporting the company’s luxury ambitions.
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Udell joined Hyatt in Singapore in 1982 as a corporate management trainee. His career included food and beverage leadership positions across Asia, serving as the first General Manager of Park Hyatt Tokyo and later as General Manager of Grand Hyatt Hong Kong, and regional and global operations roles. As Group President, Asia Pacific, he has helped expand the Park Hyatt brand across the region and advance Hyatt’s luxury business.
“David’s leadership has been instrumental in the tremendous growth of our Asia Pacific region and the commercial success Hyatt has achieved across its markets,” said Mark Hoplamazian, Chairman, President and Chief Executive Officer, Hyatt. “His strategic vision, deep relationships with owners and commitment to our colleagues and guests have strengthened our business and helped position us for continued growth. We are profoundly grateful for his more than four decades of contributions and delighted he will continue to support our teams as Senior Advisor.”
Ho brings more than 40 years of hospitality leadership experience and currently serves as President, Greater China & Growth, Asia Pacific. Before joining Hyatt in 2018, he served as President, Asia Pacific, for Starwood Hotels & Resorts and CEO, Greater China, for Marriott International. At Hyatt, he has led the Greater China business and supported the company’s growth priorities across Asia Pacific.
“I am honored to lead Hyatt’s Asia Pacific team, following David, who has set such a strong foundation for the region. With our great team and the momentum we’ve built, we’ll create new opportunities for our colleagues, owners, guests and communities,” said Ho. A successor for Ho's current role will be announced at a later date.
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 guided by its purpose – to care for people so they can be their best. As of September 30, 2026, the Company's portfolio included more than 1,500 hotels and all-inclusive properties in 84 countries across six continents. The Company's offering includes brands in the Luxury Portfolio, including Park Hyatt ®, Alila ®, Miraval ®, Impression by Secrets, and The Unbound Collection by Hyatt ®; the Lifestyle Portfolio, including Andaz ®, Thompson Hotels ®, The Standard ®, Dream ® Hotels, The StandardX ®, Breathless Resorts & Spas ®, JdV by Hyatt ®, Bunkhouse ® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry ® Wellness & Spa Resorts, Hyatt Ziva ®, Hyatt Zilara ®, Secrets ® Resorts & Spas, Dreams ® Resorts & Spas, Hyatt Vivid ® Hotels & Resorts, Bahia Principe Hotels & Resorts, Alua Hotels & Resorts ®, and Sunscape ® Resorts & Spas; the Classics Portfolio, including Grand Hyatt ®, Hyatt Regency ®, Destination by Hyatt ®, Hyatt Centric ®, Hyatt Vacation Club ®, and Hyatt ®; and the Essentials Portfolio, including Caption by Hyatt ®, Unscripted by Hyatt ®, Hyatt Place ®, Hyatt House ®, Hyatt Studios ®, Hyatt Select ® , and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith®, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
HHC-FIN
David Udell will retire effective December 31, 2026, and continue with Hyatt as a Senior Advisor.
Stephen Ho will become Group President, Asia Pacific, effective January 1, 2027.
NEW YORK (AP) — The U.S. stock market is rising Monday and recovering some of last week's sell-off that was led by the tech and AI industries.
The S&P 500 climbed 0.8%, coming off its third straight losing week, and pulled within 2.3% of its all-time high. The Dow Jones Industrial Average was up 547 points, or 1.1%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 1% higher.
Stocks got a lift from easing prices for oil, which headed back down in their latest yo-yo move on uncertainty about when the war with Iran will allow the global industry to return to normal. The price for a barrel of Brent crude, the international standard, fell 6.7% to $105.87.
Iran said Monday it had a two-day plan to reopen the Strait of Hormuz, which would help the global energy industry, and resume nuclear talks with the United States. Over the weekend, Iran’s top diplomat said he hoped for “rationality” on the U.S. side as diplomatic efforts seek to avert a return to all-out war.
The price for the most actively traded contract in the Brent market has been veering between roughly $70 and $120 since just before the war began, and it’s been quick to reverse direction.
So have stocks in the artificial-intelligence industry, which have been shaky for months amid criticism that they surged too high and are in a bubble. Worries are growing that all the hundreds of billions of dollars Big Tech companies are pouring into AI data centers won’t produce enough productivity and profit to make the investments worth it.
The latest profit reports from Alphabet and other Big Tech companies also showed how AI may be dragging on their own businesses. Not only did Google’s parent company burn through more cash during the latest quarter, as measured by something called free cash flow, it also reported slower-than-expected growth in its search business, which raised worries about AI cannibalizing its cash cow.
Alphabet rose 2.4% Monday, recovering some of its drop of more than 12% from Thursday, which was its worst in history.
Other tech giants also held steadier. Nvidia rose 1.9% after its 4.2% slide on Friday forced it to cede the title as Wall Street’s most valuable stock to Apple.
Outside of AI and tech, several stocks climbed after reporting better profits for the summer than analysts expected.
Marriott International rallied 4.3%, for example, after reporting strength for its hotels around the world. Even in the Middle East, where the war has affected its business, CEO Anthony Capuano said that “trends improved meaningfully” from the spring.
Idexx Laboratories leaped 16.3% after likewise delivering stronger profit and revenue than analysts expected. The company, which sells diagnostic equipment and other products to veterinarians, also raised its forecasts for revenue and profit for the full year of 2026.
Expectations are high for all kinds of companies to continue to deliver big gains in profits as the U.S. economy keeps chugging along, even with high inflation and interest rates. A report on Monday said that growth for U.S. manufacturing was better than economists expected. Perhaps just as importantly, a measure of inflation in the survey by the Institute for Supply Management showed prices were rising at a slower pace.
Monday's drop in oil prices, meanwhile, helped lift stocks of companies with big fuel bills. United Airlines flew 6.5% higher, Southwest Airlines climbed 4.2% and cruise operator Carnival rose 4.6%.
They helped offset a 6% drop for Marvell Technology after it announced a deal to buy Lumentum, which sells lasers and other products that power the networks and infrastructure behind AI and cloud computing.
Marvell said it will give 4.5 of its shares for each Lumentum share, valuing it at roughly $115 billion. Lumentum’s shares dropped 10.6%.
In stock markets abroad, indexes were mixed in Europe amid mostly modest moves.
The swings were larger in Asia, where South Korea’s Kospi jumped 2.2% on renewed strength for the tech giants that dominate its market.
In China, indexes rose 1.1% in Shanghai and 0.4% in Hong Kong to recover some of their steep recent losses. Stocks in Shanghai finished October more than 15% below a peak reached in May.
AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.
FILE - Trader Joseph Stevens, left, works on the floor of the New York Stock Exchange, on May 5, 2026. (AP Photo/Richard Drew)
FILE - Trader Michael Capolino, left, and Specialist Thomas McArdle work on the floor of the New York Stock Exchange, Monday, Jan. 26, 2026. (AP Photo/Richard Drew, file)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Monday, Nov. 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Monday, Nov. 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Monday, Nov. 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei and New York Dow indexes at a securities firm, Monday, Nov. 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Monday, Nov. 2, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
