Chamber deeply concerned on impending closure of Hyatt

The Saipan Chamber of Commerce expresses its deep concern regarding the closure of Hyatt Regency Saipan at the end of June 2024 due to the challenging circumstances of the CNMI No. 1 industry, tourism.

The Chamber said the closure of such a prominent establishment with a long history in the CNMI tourism industry underscores the significant impact that the ongoing and prolonged downturn in tourism has had on the local economy. The Chamber also recognizes the importance of the tourism industry as a vital driver of economic growth, job creation, and community development in the CNMI.

“We stand in solidarity with the management, staff, and stakeholders of Hyatt Regency Saipan during this difficult time. Their unwavering dedication to providing world-class hospitality for the past 44 years has been a cornerstone of our tourism sector, and their absence will be felt for years. Many in our community are with heavy hearts about the planned closure as the Hyatt has touched so many of our lives. At the Hyatt, many memories were made including weddings, anniversaries, and enjoying one of the best Sunday brunches in the Marianas. Hundreds if not thousands of our people have worked for the Hyatt over the past four decades. The Hyatt has helped train many in the culinary arts and hospitality and was the major force behind the culinary program at NMTI. Many Hyatt chefs received advanced on-the-job training and eventually worked for other CNMI hotels and restaurants,” a statement from the Chamber read.

It also hopes that the next operator of the best beachfront hotel site on Saipan will meet or exceed the Hyatt customer service levels while remaining a consistent supporter of community organizations and non-profits, including the Chamber.

“We expect the next operator to adopt Hyatt’s philosophy of hiring locals first whenever possible. For over a decade, the Hyatt has consistently maintained an 80% or greater local resident workforce rate.”

For nearly two decades, the Chamber said industry stakeholders including hotel operators, Marianas Visitors Authority, and the CNMI government adopted and pursued a tri-market tourism strategy.

“For years leading up to the COVID-19 Pandemic, our tri-market included Korea, Japan, and China and this strategy worked well in developing our destination and in hedging against risks associated with these source markets’ respective economies and currency fluctuations against the U.S. dollar. Unfortunately, today, we only have Korea as our single source market. Bringing back the Japanese market remains challenging, and the China market will not resume to pre-pandemic levels without direct flights from China.”

As an organization representing the business community, the Chamber thus urges government officials, industry leaders, and community members to work collaboratively to support Delegate Gregorio Kilili C. Sablan’s (D-MP) efforts in urging U.S. Department of Transportation Secretary Pete Buttigieg to exempt the CNMI from DOT’s current policy that limits the number of passenger flights from China to the United States.

“The Saipan Chamber of Commerce remains committed to supporting efforts to promote economic resilience, diversification, local workforce development, and long-term prosperity for the CNMI,” it noted.

The Chamber is a non-profit organization whose mission is to empower our enterprises as a resource, advocate, and connector for Saipan’s private sector. Its vision is to create an island where businesses, families, and communities succeed as one.

For more information or to learn how to become a Chamber member, visit online at www.saipanchamber.com, call (670) 234-7150, or visit the 2nd Floor of the Marianas Business Plaza (Suite 201-A). (PR)