Principal Global Investors Discloses 4.42M Hyatt Shares, 10.4% Ownership

Rhea-AI Filing Summary

Principal Global Investors, Principal Real Estate Investors, LLC, and Principal Funds, Inc. reported combined beneficial ownership of 4,418,430 shares of Hyatt Hotels Corp Class A common stock, representing 10.4% of the class as of August 31, 2025, via a Schedule 13G/A filing. The filing breaks down holdings as follows: Principal Global Investors reports shared voting and dispositive power over 3,497,244 shares (8.3%), Principal Real Estate Investors reports shared power over 921,186 shares (2.2%), and Principal Funds, Inc. reports shared power over 2,505,764 shares (5.9%). All three report 0 shares of sole voting or sole dispositive power and indicate the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. The statement was signed on September 2, 2025, and a Joint Filing Agreement is included as Exhibit 99.1.

Positive

• Aggregated 10.4% ownership of Hyatt Class A shares signals sizeable institutional interest
• Principal Funds, Inc. holds 5.9%, exceeding the 5% reporting threshold and providing transparency
• Filing certifies holdings are ordinary-course passive investments, reducing immediate governance concerns
• Joint Filing Agreement and authorized signatures indicate coordinated and compliant disclosure

Negative

• None.

Insights

Financial Analyst

TL;DR: Combined Principal entities hold a material 10.4% stake in Hyatt, disclosed as passive ownership with shared voting rights.

The Schedule 13G/A shows an aggregated 10.4% position that exceeds typical 5% reporting thresholds, making this a notable institutional stake. The breakdown highlights that Principal Funds, Inc. alone holds 5.9%, which crosses the 5% line and must be monitored for any subsequent changes in status or activity. The reporting of shared voting and dispositive power indicates the position is managed across related entities rather than by any single entity exercising sole control. Because the filers certify the holdings are in the ordinary course and not intended to influence control, the filing reads as large passive institutional ownership rather than an activist intent.

Corporate Governance Expert

TL;DR: Governance impact appears limited: shared voting power exists but filers state no intent to change control.

The disclosure that there is 0 sole voting or dispositive power and that the holdings are not intended to influence control suggests limited immediate governance implications. However, the combined 10.4% stake means the group is potentially influential in aggregate, particularly on closely contested matters. The Joint Filing Agreement and consistent signatures from compliance and counsel indicate coordinated reporting and regulatory compliance. Investors and the company should note the position size but the filing contains an explicit certification that the stake is passive.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Hyatt Hotels Corp

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

448579102

(CUSIP Number)

08/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 448579102

1

Names of Reporting Persons

PRINCIPAL GLOBAL INVESTORS

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,497,244.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,497,244.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,497,244.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 448579102

1

Names of Reporting Persons

PRINCIPAL REAL ESTATE INVESTORS, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 921,186.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 921,186.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

921,186.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 448579102

1

Names of Reporting Persons

PRINCIPAL FUNDS, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,505,764.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,505,764.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,505,764.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.9 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Hyatt Hotels Corp
(b)	Address of issuer's principal executive offices: 150 NORTH RIVERSIDE PLAZA, 8TH FLOOR, CHICAGO, ILLINOIS 60606
Item 2.
(a)	Name of person filing: PRINCIPAL GLOBAL INVESTORS PRINCIPAL REAL ESTATE INVESTORS, LLC PRINCIPAL FUNDS, INC.
(b)	Address or principal business office or, if none, residence: PRINCIPAL GLOBAL INVESTORS 711 HIGH STREET DES MOINES, Iowa 50392-0300 PRINCIPAL REAL ESTATE INVESTORS, LLC 711 HIGH STREET DES MOINES, Iowa 50392-0300 PRINCIPAL FUNDS, INC. 711 HIGH STREET DES MOINES, Iowa 50392-0300
(c)	Citizenship: PRINCIPAL GLOBAL INVESTORS - DELAWARE PRINCIPAL REAL ESTATE INVESTORS, LLC - DELAWARE PRINCIPAL FUNDS, INC. - MARYLAND
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 448579102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4,418,430
(b)	Percent of class: 10.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRINCIPAL GLOBAL INVESTORS - 0 PRINCIPAL REAL ESTATE INVESTORS, LLC - 0 PRINCIPAL FUNDS, INC. - 0
	(ii) Shared power to vote or to direct the vote: PRINCIPAL GLOBAL INVESTORS - 3,497,244 PRINCIPAL REAL ESTATE INVESTORS, LLC - 921,186 PRINCIPAL FUNDS, INC. - 2,505,764
	(iii) Sole power to dispose or to direct the disposition of: PRINCIPAL GLOBAL INVESTORS - 0 PRINCIPAL REAL ESTATE INVESTORS, LLC - 0 PRINCIPAL FUNDS, INC. - 0
	(iv) Shared power to dispose or to direct the disposition of: PRINCIPAL GLOBAL INVESTORS - 3,497,244 PRINCIPAL REAL ESTATE INVESTORS, LLC - 921,186 PRINCIPAL FUNDS, INC. - 2,505,764
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. As of August 31, 2025 the Principal MidCap Fund, a series to the Principal Funds, Inc., had ownership of 2,505,764 shares representing 5.9%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PRINCIPAL GLOBAL INVESTORS

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	09/02/2025

PRINCIPAL REAL ESTATE INVESTORS, LLC

Signature:	/s/ J. Markham Penrod
Name/Title:	Chief Compliance Officer - North America, Principal Asset Management
Date:	09/02/2025

PRINCIPAL FUNDS, INC.

Signature:	/s/ John L. Sullivan
Name/Title:	Counsel and Assistant Secretary
Date:	09/02/2025

Exhibit Information

This statement is filed by Principal Global Investors LLC, Principal Real Estate Investors LLC, and Principal Funds Inc. jointly pursuant to a Joint Filing Agreement, which is filed with this Schedule 13G as Exhibit 99.1.

FAQ

How many Hyatt (H) Class A shares do the Principal filers beneficially own?

The filers report an aggregate of 4,418,430 shares beneficially owned.

What percentage of Hyatt does the 4,418,430 shares represent?

The aggregate position represents 10.4% of Hyatt's Class A common stock as reported.

What are the holdings by each reporting entity in this Schedule 13G/A for H?

Principal Global Investors: shared power over 3,497,244 shares (8.3%); Principal Real Estate Investors, LLC: shared power over 921,186 shares (2.2%); Principal Funds, Inc.: shared power over 2,505,764 shares (5.9%).

Do any of the reporting persons claim sole voting or dispositive power?

No. All three reporting persons report 0 shares of sole voting power and 0 shares of sole dispositive power; their holdings are reported as shared.

Does the filing state the position is intended to influence control of Hyatt?

No. The certification states the securities were acquired and are held in the ordinary course of business and were not acquired for the purpose of changing or influencing control of the issuer.