BUFFALO, N.Y. — Closed since the Covid-19 outbreak, hospitality industry sources said the shuttered Hyatt Regency Buffalo hotel will remain closed until early March.
The 394-room hotel, which serves as a headquarters for many conventions and special events groups booked at the Buffalo Niagara Convention Center, is at the center of a legal dispute between Hyatt Corp., U.S. Bank N.A. and Genesee Hotel Properties LLC. The hotel — one of downtown's largest — has been closed since mid-March.
At issue is a $25.5 million loan Genesee Hotel Properties received from U.S. Bank eight years ago. More than $21 million of that loan is still owed, according to previous court documents. Genesee Hotel Properties is an affiliate of Snyder Corp., which developed and has run the Hyatt since its opening in 1984. You can read the full story on Buffalo Business First's website.