The waves of the pandemic shook the travel and tourism industry. While several hotels and restaurants were expecting a road to recovery in 2021, the second wave gave them an even more challenging blow. It is, therefore, not unexpected to learn that many hotels and restaurants are shutting down their services. One of the most prominent names that have suffered the most losses is Hyatt Regency Mumbai. The five-star hotel has determined to shut down until further announcement as the hotel owner cannot support the services.
Hyatt Regency Is Incapable To Sustain Its Operations
Sunjae Sharma, Vice President, and Country Head – India, Hyatt verified this news. He said, “As a result of no reserves forthcoming from Asian Hotels (West) Ltd, the owner of Hyatt Regency Mumbai, to support the operations of the hotel, a decision has been exercised to temporarily halt all operations for Hyatt Regency Mumbai. The hotel will remain closed until further notification.”
The RBI announced the creation of a special liquidity window of INR 15,000 crore to provide liquidity support to the contact-intensive sectors most affected by the pandemic….
Read what hospitality industry stakeholders have to say in this article on – https://t.co/SK5ltyks7n
— AHAR – Indian Hotels and Restaurants Association (@AHARMumbai) June 7, 2021
The Hotel Is Not Accepting Any Reservations
The popular five-star property located near Sahar airport will not accept future reservations. As a result, all booking channels will be temporarily unavailable. However, the hotel assured that it is working closely to resolve its situation and resume its operations soon.
The Hotel Owners Were Unable To Pay The Staff
On June 7, 2021, Hyatt Regency Mumbai issued a notification informing all hotel staff that no funds are expected from Asian Hotels (West) Ltd and the owner of Hyatt Regency Mumbai. They were, therefore, unable to pay the salaries of the hotel staff and support the services. The decision was taken given the economic crisis that the hotel is undergoing.
The hospitality business is one of the worst-effected areas. The guidelines to close dining in restaurants have been devastating for the whole F&B sector. Right now, the restaurant owners are pleading with the government to acknowledge their loss and prevent the hospitality industry from collapsing.