One among Mumbai’s most prestigious 5 star hotels, the Hyatt Regency hotel has suspended its operations and closed down “until further notice.” The Hyatt Regency is currently owned by Asian Hotels (West) Ltd. The hotel’s owner has cited a lack of funds to pay salaries to its employees as the reason for shutting down.
According to Hardeep Marwah, General Manager of the hotel, the parent firm of Hyatt Regency, Asian Hotels (West) Ltd. has not released money to either continue the hotel’s operations or to pay salaries to its staff, forcing them to temporarily close down.
In a short statement addressed to the employees of Hyatt Regency, Mumbai, manager Hardeep Marwah said, “This is to inform all the on-roll staff of the hotel that no funds are forthcoming from Asian Hotels (West) Ltd, the owner of Hyatt Regency Mumbai, to enable payment of salaries or to aid the operations of the hotel.“
The statement added that a decision has been taken to suspend the operations of the 5-star hotel for some time period until further notice. The decision will get implemented immediately.
Since the start of the pandemic in the country last year, the hotel and hospitality industry have been among the sectors worst affected. With travel- both domestic and international, shut down or highly restricted, tourism has taken a hit leading to dwindling revenues for the hotels. The second wave of COVID-19 has only worsened the situation, forcing one of the leading hotels of Mumbai- India’s financial capital, to shut down.
