Hyatt to cease operations in June

Hyatt Regency Saipan will permanently cease operations by the end of June after 43 years in operation.

Hyatt Regency Saipan, one of the CNMI’s oldest establishments (officially opening back in the 1970s), will officially cease operations on June 30, 2024.

The shocking news was made public on Hyatt Regency’s website yesterday.

Due to this change, Hyatt Regency Saipan’s booking channels have stopped accepting reservations yesterday.

“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 11:59pm, June 30, 2024. Hyatt booking channels will no longer accept reservations from April 29, 2024,” Hyatt’s website states.

As for World of Hyatt members, Hyatt states that members’ benefits will cease starting June 30.

“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 June 30, 2024, will be honored as booked. Please contact your nearest Global Contact Center if you have any questions or inquiries,” said Hyatt.

Saipan Tribune learned that the news was delivered to all Hyatt employees yesterday at around 3pm at the Hyatt Regency Ballroom.

An anonymous source told Saipan Tribune that Miyako is currently the only restaurant open, and their last Sunday Brunch is on Mother’s Day. After that, they will no longer offer Sunday Brunch.

As for employees, an anonymous source stated that they were informed during their meeting that Hyatt will be closing the gates to the hotel and to its housing after June 30, so employees were also advised that they would have to leave the Hyatt housing by August.

Employees (both current and former) provided Saipan Tribune with comments and based on them, all employees are in a world of pain due to the abrupt news.

“Sixteen years of working there. I’m in shock. I’m speechless. They told us just now. We saw signs but of course we never believed it will close, just change owner, but not actually close. We had a meeting today. That’s how we found out.

We didn’t know anything. A lot of the staff were crying during and after the meeting. I will not be leaving Saipan but will start job hunting and apartment hunting today,” said an anonymous source.

According to a former Hyatt employee, who worked for the establishment back in the early 2000s, finding out that Hyatt will be no more is shocking.

“Hyatt is one of those hotels that you think will be here on Saipan for decades to come because it’s always been here. Hearing now that they no longer will be in operation is shocking. This means many people will lose their jobs then. That is the worst part. And to think it was looking like the CNMI is recovering well with the China flights. It’s just shocking to hear this,” he said.

“I’m so sad to hear this news. It was my first working experience,” said Pauline Castro, a former Hyatt employee.

Another former Hyatt employee shared how sad she was to find out about Hyatt’s decision to close its doors.

“I worked there for almost seven years. It was my first job as well in high school. Made lots of friendships there. Grew there. It’s all sad,” she said.

Saipan Tribune also tried to reach out to government agencies like the Marianas Visitors Authority, Hotel Association of the Northern Mariana Islands, and all have yet to comment.

Back in 2021, Hyatt Regency Saipan was approved a 40-year lease renewal which took effect on 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 their business gross receipts, and a security deposit of $250,000.

A part of Hyatt Regency Saipan’s commitment is 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.