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Old March 21, 2006, 04:02 PM   #1
BeantownFlyer
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Hyatt Dorado Beach to Close - Impact on Hacienda Del Mar?

The other shoe dropped today...three years after shuttering the Cerromar property, it was announced that the Dorado Beach Hotel would close on May 31st. No doubt union busting is one part of this equation by the owner (which is not Hyatt - remember they just manage the hotel), but whatever future development plans are in the works have not been announced, and certainly nothing has happened at Cerromar in three years since it went dark. I just can't imagine what this means for owners at Hacienda Del Mar, but it can't be good.

Hyatt closes historic Puerto Rico hotel



March 21, 2006

(AP) The Hyatt Dorado Beach Resort, where President Gerald Ford hosted the 1976 Group of Seven economic summit, will close its doors this spring due to stiff competition and the shortcomings of a hotel designed some 50 years ago, officials said Tuesday.
The 298-room hotel will close on May 31, said Richard Schulze, president of the resort's owner, Dorado Beach Hotel Corporation.

``The facilities no longer fulfill the expectations and requirements of our guests,'' Shulze said in a statement. ``Today's travelers have more choices and alternatives which include new state-of-the-art accommodations.''

It's not clear how many of the 800 employees will lose their jobs. Some will likely keep their jobs at the resort's club and golf course, which was expected to remain open after the hotel shuts down, Schulze said.

``The Hyatt Corporation should be ashamed for leaving all of its Puerto Rican workers on the street,'' said Bruce Raynor, president of the UNITE-HERE union, which represents many of the resort's staff.

Shulze said Dorado intends to honor its union obligations and that several plans, which he declined to discuss, were being reviewed for the future of the site on Puerto Rico's north coast.

The closure didn't mean the island's top-end tourism sector was in decline, Shulze said.

``This decision is not a judgment on the demand for a luxury hotel,'' he said.

The son of John D. Rockefeller, Jr., Laurance Rockefeller, built the hotel in the late 1950s. Guests have included former President John F. Kennedy and Britain's Prince Philip.

The Chicago-based Hyatt closed another hotel in northern Puerto Rico in 2003 due to competition and a bad business climate.


http://www.chicagobusiness.com/cgi-bin/news.pl?id=19924

and

Dorado Beach Hotel Corporation Terminates Management Agreement With Hyatt Hotels Corp.
Landmark Puerto Rico Resort Hotel to Close Its Doors After 48 Years in Operation

CHICAGO, IL -- (MARKET WIRE) -- 03/21/2006 -- Dorado Beach Hotel Corporation, owner of Hyatt Dorado Beach Resort & Country Club, announced today that it will cease operation of Hyatt Dorado Beach Hotel and terminate its management agreement with Hyatt Hotels Corporation, effective May 31, 2006.

"This is a tremendously sad day for Hyatt and for our loyal employees who have so well served this landmark property for 48 years," said Chuck Floyd, chief operating officer and executive vice president of Hyatt Hotels Corp. "This staff has become family in the true sense of the word, and we will do everything in our power to assist them with their future plans.

"Although there are no definitive plans for Hyatt's future on the island following the hotel's closure, we are committed to regaining our presence as soon as the opportunity arises," he added. "In the meantime, we will work closely with our staff and the union to make this transition as smooth as possible while we continue to focus on the positive experience of our guests."

Hyatt Corporation has managed Dorado Beach Hotel since 1985.



http://www.marketwire.com/mw/release...ease_id=114068
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Old March 21, 2006, 04:24 PM   #2
gmarine
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Resorts: Renaissance Aruba,St James Club Antigua ,Westgate, Marriott Manor Club, Worldmark, Kings Creek Plant,Twin Rivers,SDO,SBP
WOW. That isnt good news for owners. Among the other concerns, most, if not all of the restaurants at the resort complex were at the Dorado.

I also wonder how the closing is going to affect access to the great beach area at the Dorado and operation of the swim up bar and river pool.
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