BY MARK RABAGO
Saipan Correspondent
GARAPAN, Saipan — After 43 years, Hyatt Regency Saipan is bidding the Northern Mariana Islands goodbye on June 30, according to an announcement on its website.
“Please be advised that Hyatt Regency Saipan will cease its operation permanently and will no longer be a Hyatt branded property. Hyatt Regency Saipan will be closed effective from 11:59 p.m., June 30, 2024. Hyatt booking channels will no longer accept reservations from April 29, 2024. Please contact your nearest Global Contact Center if you have any questions or inquiries.
“Please note that due to this change, World of Hyatt members will not be eligible to receive World of Hyatt program benefits, including World of Hyatt points and World of Hyatt free nights redemption for stays after June 30, 2024. Redemption of World of Hyatt free nights requested and confirmed prior to 30 June, 2024 will be honored as booked,” the statement on its website read.
The link to the statement is https://www.hyatt.com/en-US/hotel/micronesia/hyatt-regency-saipan/spnrs?src=corp
More than 100 Hyatt staff will be laid off following the closure of the hotel, according to Journal sources.
General manager Simon Graf was seen at the Francisco C. Ada-Saipan International Airport the morning of April 29, reportedly collecting personnel from the Hyatt Regency Guam.
According to Journal sources, hours later a “townhall meeting” was held at Hyatt’s ballroom, where the news was delivered to staff. Sources also said Hyatt staff housing will be closed starting June 30.
In 2021, Hyatt’s 40-year lease renewal was approved effective Jan. 1, 2022.
Hyatt’s rental rate is about 0.5% base rent, the value of the appraised value of the properties, which is about $50 million, plus or minus an additional rent of 1% of the hotel’s business gross receipts, and a security deposit of $250,000.
A part of Hyatt Regency Saipan’s commitment was a contribution of $1.5 million to a community benefit fund to be apportioned as follows: $500,000 allotted to homestead infrastructure; $500,000 allotted to Garapan revitalization projects, $200,000 allotted for scholarship of Northern Marianas descent students and $300,000 to promote traditional arts and culture.
The Hotel Association of the Northern Mariana Islands has yet to issue a statement regarding its member-hotel’s closure.
Other member-hotels in HANMI are Aqua Resort Club, Aquarius Beach Tower, Century Hotel, Coral Ocean Resort, GrandVrio Resort Saipan, Crowne Plaza Resort Saipan, Kensington Hotel Saipan, LaoLao Bay Golf & Resort, Pacific Islands Club Saipan, Saipan World Resort, and Surfrider Resort Hotel.
Hong Kong-based Honest Profit International Ltd. was planning to open the NMI’s first Marriott hotel in 2025 after the completion of its $130-million, 312-room hotel project in San Antonio.
However, the Department of Public Lands identified several compliance issues in Honest Profit’s hotel project that appear unresolved, leading to DPL Secretary Teresita A. Santos denying the company’s request to extend its land lease for an additional 15 years.
The extension is necessary for Honest Profit to enter a hotel management agreement with a global brand hotel, as the hotel requires management of a long-term lease for a minimum of 20 years. The existing lease agreement will expire in July 2039.
According to Journal files, the Crowne Plaza Resort Saipan opened in November 2022, after renegotiation of that property’s lease in Garapan. mbj
Hyatt Regency Saipan to leave NMI
Hyatt Regency Saipan to leave NMI
- Date Posted: Apr 30, 2024
- News: Northern Mariana Islands
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Hyatt Regency Saipan to leave NMI
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