Sorry if this has been discussed before...(from scmp.com)



Hyatt Regency to close in 2006 leaving 600 staff with hazy future



Nearly 600 staff at the Hyatt Regency in Tsim Sha Tsui face an uncertain future after the owner confirmed yesterday that the 35-year-old hotel would close in January, 2006.


Associated International Hotels, which owns the 723-room hotel in Nathan Road, stated in a media announcement that the block would be demolished and a new retail complex built to boost long-term returns.

The hotel said it had started negotiations with staff over their futures several months ago, but some said they had not been told of the closure date.

A housekeeper who has worked at the hotel for several years was shocked to hear he would lose his job in a year's time.

"The company never told me about the time of closure. Of course, I'm worried about my job, but there's nothing I can do about it," he said.

A bellboy said the company had never discussed the possibility of relocating staff to other hotels or retraining them.

"It's a pity that it will be torn down, but I am more concerned about my job," he said.

The hotel's marketing communications manager, Ainslie Cheung, declined to discuss plans for staff arrangements but stressed that discussions would be held with employees.

A spokeswoman for the owners had earlier said that the hotel had not benefited much from surging numbers of mainland visitors as people from over the border only comprised 10 per cent of its clientele.

She also said the growing supply of hotel rooms had put pressure on room rates.

In the past decade, several hotels have been torn down to be replaced by other commercial buildings.

The Furama in Central was demolished in 2002 to make way for the AIG Tower while the Hilton fell in 1995 to be replaced by the Cheung Kong Center.

In 1994, the closure of the Fortuna and Ambassador hotels in Kowloon saw 640 staff lose their jobs as property owners switched to commercial buildings offering a higher yield.

James Lu Shien-kwai, the Hong Kong Hotels Association's executive director, said it was a pity that the Hyatt, which opened in 1969, was going to be demolished.

He admitted that some hotels moved from prime locations because tourists had become more mobile.

The Tourism Board says the supply of hotel rooms will increase by almost 40 per cent to 52,266 over the next four years.