Mumbai: Hyatt Regency shut until further notice; Cites acute shortage of funds amid COVID

The hospitality sector has been massively hit due to the COVID pandemic and the second wave has posed several new threats as the lockdown was imposed in several Indian states. Hyatt Hotels Corporation has decided to suspend the operations at Hyatt Regency Hotel in Mumbai, Maharashtra. They have cited the severe cash crunch and the property is said to remain close until further notice. The global hotel chain has been hit quite badly because of the second wave of Coronavirus and is now facing an acute shortage of funds and it does not have enough money to pay salaries to the employees. The global company has decided to suspend their operations in Mumbai for a certain period of time. Watch the video to know more!

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