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Hyatt Regency Mumbai shuts operations indefinitely due to lack of funds

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

Hyatt Hotels | Asian Hotels | Lockdown

Shally Seth Mohile  |  Mumbai 

On May 28, in a notification to the Bombay Stock Exchange, Asian Hotels said it has defaulted on an interest payment of Rs 4.32 crore to its lender Yes Bank

Hyatt Regency on Monday said it has shut its property due to the financial crunch facing its asset owner (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.



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First Published: Mon, June 07 2021. 22:15 IST