Hyatt Regency Perth to close its doors after management agreement is terminated
Termination of management agreements will force the Hyatt Regency Perth to close its doors after 36 years in operation.
The Hyatt’s parent company Singapore-listed Tuan Sing made the decision “as part of its long-term business strategy” to expand its hospitality business. Tuan Sing’s portfolio currently includes Grand Hyatt Melbourne and the recently the recently acquired Fraser Residence River Promenade in Singapore.
Hyatt Regency Perth will cease operations after August 31 and no longer affiliate with the Hyatt global portfolio.
“We extend our sincerest gratitude to our team, guests, customers, partners and the broader Perth community for their loyal support and patronage, which has laid the foundation for our success over the past three decades,” Hyatt Regency Perth general manager Thiva Kesavan said.
“It is with much regret that Hyatt Regency Perth will cease to operate, but we are grateful to have had the privilege to serve and care for all who have come through its doors.
“As we navigate this challenging period, our thoughts are with all those affected by the hotel’s closure and we are committed to ensuring they are supported.”
The company will work to support affected customers and look at redeploying the hotel’s staff.
Hyatt Regency Perth is located on Adelaide Terrace and has been a Perth CBD mainstay for years. Over the years, it has welcomed former Prime Minister John Howard, Canadian pop star Justin Bieber and US rapper Kanye West.
According to Tuan Sing hospitality vice president Lim Guan Kiang, the property will be repositioned and rebranded to commence business after the August 31 closure.
The company is likely to incur $S2 million ($2.2m) in costs and expenses from the termination of Hyatt Regency Perth’s management.
Premier Roger Cook paid tribute to the hotel.
“Everyone was excited when we saw the architects’ renders and it really represented everything that Western Australia was going to be in that post America’s Cup world,” Cook said.
“We’ve all got fond memories of the Hyatt and obviously will be sad to see it go but we know that there is more tourism products being brought on stream day in day out as our tourism industry continues to grow.”
Jonathan Jackson, 2nd July 2024
