US-based hotel operator Hyatt Hotels Corporation (HHC) has raised US$950m (£575m, €639m) following a successful initial public offering on the New York Stock Exchange (NYSE).

The company operates more than 400 hotels in 45 countries across the world under a number of brands, including the Hyatt, Park Hyatt, Andaz and Grand Hyatt chains. HHC's initial public offering is the 18th to be launched on the NYSE this year, with only one other - Banco Santander - surpassing the total amount raised by the hotel operator.

Mark Hoplamazian, chief executive officer of HHC, said: "Moving forward, our focus will continue to be providing authentic hospitality to our guests and driving preference for our brands."