When the large, secretive and feuding Pritzker family sets out to raise $1.15 billion, you know something is up. Why, with the travel industry in the dumps, would the family go ahead with its long-rumored stock offer in Hyatt Hotels?
The document for the initial public offering said the shares would be listed on the New York Stock Exchange under the convenient ticker symbol H.
It also said some of the proceeds will be used for acquisitions, noting that tight credit has made it difficult for even the premier hotel operators to expand. But the stock sale also gives the fractious family an opportunity to sell equity.
Companies usually opt for an IPO after they can …
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