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With no funds for salaries, Hyatt shuts Mumbai hotel
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One of Mumbai’s best known 5-star hotels, The Hyatt Regency, is set to shut down ‘until further notice’. Indicating the financial strain it faces, the property’s authorities have said they have no money to pay salaries. The hotel, located close to the Mumbai airport, is owned by Asian Hotels (West).
In a short statement released, the hotel’s general manager Hardeep Marwah said the parent firm had not sent money for operations. “This is to inform all the on-roll staff of the hotel that no funds are forthcoming from Asian Hotels (West) Ltd, the owner of Hyatt Regency Mumbai, to enable payment of salaries or to support the operations of the hotel,” Marwah wrote.
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NEW DELHI: Around 34 stocks fell to touch their 52-week lows on NSE in Monday s session. Among the stocks that touched their 52-week low on NSE were: Asian Hotels (West), AKG Exim, Deep Energy Resources, Generic Engineering, GFL, Global Vectra Helicorp, Khaitan (India), Sharda Motor, Spencer s Retail, Suvidhaa Infoserve, Taj GVK Hotels and Zodiac Clothing. Domestic benchmark index NSE Nifty was trading 329.45 points down at 14288.4, while the BSE Sensex was trading 1127.33 points down at 47704.70. On the other hand, Linde India, CAMS, Cipla, Cadila Healthcare and Wipro stocks hit their fresh 52-week high today.
In the Nifty 50 index, Cipla, Dr. Reddy s, Britannia, Infosys and Divi s Labs were among the top gainers on the NSE. However, Axis Bank, Kotak Bank, Bajaj Finance, ICICI Bank and SBI were among the top losers.