Hyatt Hotels Corporation
Thesis
Hyatt was one of the potential buyers for Starwood Hotels, which suggests it could benefit from the acquisition and potentially see an increase in value as the deal progresses.
Did it work?
failed
confidence: low
The thesis hinged on Hyatt's role as a potential Starwood buyer and an expected value increase 'as the deal progresses.' In reality, Hyatt never made a formal bid and Marriott International won the Starwood bidding war (deal announced in 2015, closed in 2016), so the specific catalyst underpinning the long thesis never materialized for Hyatt. With no price data available, the verdict rests on the thesis events not occurring, hence low confidence.