Mumbai's Hyatt Regency Temporarily Closed Due To Financial Crisis

Hyatt Regency, Mumbai based 5-star hotel, on Monday stated that it will be temporarily closed its all operations until further notice. Facing financial crisis, hotel officials have said that they do not have money to remunerate their employees.

Hyatt is an American hospitality company that manages and franchises hotels. It is managing the Mumbai property on a contractual basis on behalf of Asian Hotels.

Hardeep Marwah, general manager of Hyatt Regency, said the parent firm had not remitted money for operations.

He also added, "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 support the operations of the hotel,"

"As a consequence, the decision has been taken to temporarily suspend all operations…with immediate effect. The hotel will remain closed until further notice."

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