The managers of Hyatt Regency have clarified that they do not have money to run the hotel, to pay the employees, to pay the bank loans.
Hotel Hyatt Regency.
Corona has wreaked havoc on five star hotels known as Hyatt Regency in many big cities of the country including Mumbai, Delhi. The company running these five star hotels does not have the money to pay salaries to the employees. That’s why the Hyatt Regency Mumbai hotel has been closed. This has created problems for 193 employees in one stroke and they have gone to the Industrial Court against the company owned by this five star hotel.
The managers of Hyatt Regency have clarified that they do not have money to run the hotel, to pay the employees, to pay the bank loans. When the first wave of Corona came last year, the hotel managers somehow managed the hotel. By the time the first wave of Corona went, and the tourism and hospitality industry was somehow recovering, the second wave of Corona arrived. Meanwhile, Hotel Group took a loan from Yes Bank. The company has a debt of 4 crore 32 lakhs. It is getting difficult to repay the loan. Due to not being able to repay the loan on time, the bank has started imposing restrictions on many financial transactions of the hotel. In such a situation it is difficult to pay salary.
Question on the future of 193 employees
Hyatt Regency has five star hotels in many cities of the country. But the hotels of Delhi and Mumbai have the highest fame. Out of these two hotels, it has now been decided to temporarily close the Hyatt Regency of Mumbai. But 193 employees have gone to the Industrial Court against this decision. The court has fixed the next hearing on June 28. Till then the court has directed the company not to fire any employee. The employees say that they were not getting salary for the last two months and then suddenly on Monday it was decided to close the hotel.
The Hyatt Regency in Mumbai is owned by Asian Hotels West. Make it clear that out of the five star hotels operating under the name Hyatt Regency across the country, it has been decided to close only the hotel in Mumbai. The company says that it is now becoming difficult for the company to bear the burden of government taxes, vendors money, bank money and daily expenses of running the hotel.
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