Pros
Great benefits, feels like family, and if you want to be promoted, they will help you get there. You don't have to stay in one area; you can really move wherever you want if you're driven and show that. The company really does emphasize caring for people, which is wonderful. If you are willing to put in the effort, Hyatt will help you get to where you want to go.
Cons
Long hours (hotels are open 24/7), work/life balance depends on your supervisor/manager, departments can be clique-y & make it feel a lot like high school. I've moved into several positions (been with the company 5+ years), and it's always been "out of the frying pan and into the fire" - training is pretty much a learn-as-you-go, which can cause EXTREME stress the further you get into a role. Compensation can be a hit or miss, but usually isn't enough for the job a person REALLY does. Promotions happen more if you are willing to move states for them.