Hyatt Regency Mumbai shuts operations indefinitely due to lack of funds

Asset owner Asian Hotels facing financial crunch, defaults on loan repayment

Hyatt Regency Mumbai on Monday said it has shut its Mumbai property due to the financial crunch facing its asset owner Asian Hotels (West). The five star property issued a notice informing the staff on its roll that no funds are being infused from the property owner to meet the operational expenses of the hotel including payment of salaries. The hotel, therefore, has to be closed until further notice.

“As a result of no funds forthcoming from Asian Hotels to sustain the operations of the hotel, a decision has been taken to temporarily suspend all operations for Hyatt Regency Mumbai. The