The Pritzker family is planning to float the Hyatt Hotels Corporation as part of efforts to raise more than US$1bn (£595m, 696m euro).

The Chicago-based Pritzkers own 75 per cent of Hyatt, and if the initial public offering is successful, it will be the largest to take place on the US stock markets during the year so far.

Hyatt Hotels has filed a registration statement with the US Securities and Exchange Commission (SEC) relating to a proposed listing of the company, although the number of shares to be offerd and the price range have not yet been determined.

The company's subsidiaries own, manage or franchise more than 380 hotels and resorts under the Hyatt, Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place and Hyatt Summerfield Suites brands.