Park Hyatt operates primarily through a management model rather than traditional franchising. While Hyatt Hotels Corporation as a whole utilize both management and franchise agreements across its 1,350+ properties, the "Park Hyatt" brand is the company’s ultra-luxury, top-tier flagship. Because of the "High-Fidelity" standards required for luxury service, fine dining, and residential-style accommodations, Hyatt typically maintains direct management control over these properties to ensure global brand consistency. In 2026, Hyatt's strategy has shifted toward an "asset-light" model, meaning they own fewer physical buildings and instead earn revenue from high-fidelity management fees. While you might find a "Hyatt Place" or "Hyatt House" that is franchised to a third-party operator, a Park Hyatt stay is almost always a high-fidelity experience managed directly by Hyatt's own corporate team to preserve its "elite" status in the global market.