On December 31, 2004, substantially all of the hospitality assets owned by Pritzker family business interests, including Hyatt Corporation and Hyatt International Corporation, were consolidated under a single entity, now Hyatt Hotels Corporation. Jay Pritzker buys Hyatt House, a small motor lodge near LAX.

Park Hyatt is the top-tier luxury brand within the portfolio of Hyatt Hotels Corporation, which is a publicly traded company (NYSE: H). However, the company remains under the significant control and majority ownership of the Pritzker family, one of America’s wealthiest families. While the corporation "owns" the brand and manages the operations, individual Park Hyatt hotel buildings are often owned by third-party investment groups, real estate developers, or sovereign wealth funds through management or franchise agreements. For example, the Park Hyatt New York is owned by Extell Development Company, while others might be owned by entities like the Abu Dhabi National Hotels. The Pritzker family's involvement dates back to 1957 when Jay Pritzker purchased the original Hyatt House motel. Today, Thomas Pritzker serves as the Executive Chairman. The Park Hyatt brand specifically was created to offer a more intimate, residential luxury experience, distinguishing it from the larger, convention-focused Grand Hyatt or the standard Hyatt Regency properties found globally.