For the first time in 36 years, there will not be a Hyatt in downtown Buffalo. The 396-room hotel, shuttered since April 1 due to the coronavirus, will not be reopening as a Hyatt. The Hyatt Corp. announced that the property’s Hyatt affiliation is ending after June 1. This morning, The Buffalo News reports that the hotel missed a mortgage payment in April and the property has experienced declining cash flow since early last year, landing the 2012 mortgage on a default “watch list”.
WKBW has the breaking news but does not clarify if the hotel will be rebranded or if the property’s hotel days are over. From WKBW:
The Hyatt Regency, the largest hotel in downtown Buffalo, is closing its doors for good.
A Hyatt spokesperson tells 7 Eyewitness News the 396-room hotel, which suspended all operations on April 1 due to the COVID-19 pandemic, will no longer be affiliated with Hyatt as of June 1.
“Unfortunately, as Hyatt will no longer be operating the hotel, we’ve been forced to make the extremely difficult decision to implement layoffs across our hotel workforce,” a spokesperson said in a statement. “A priority for us is to ensure our colleagues are being cared for during this situation.”
In January, Morton’s steakhouse abruptly closed in the hotel. Snyder Corp. opened the property in 1984 as the centerpiece of the Fountain Plaza development effort.
This post will be updated as more information is available.