The Hyatt Regency Buffalo is being given an opportunity to retain its brand relationship with Hyatt Hotels for now.
New York State Supreme Court Justice Emilio Colaiacovo, in a June 22 ruling, said Genesee Hotel Properties LLC, an affiliate of Snyder Corp. of Buffalo, can keep the Hyatt name, provided that it meets a pair of stipulations. The 394-room downtown hotel remains closed, but court conditions include posting $1 million in a working-capital account and a bond covering $843,000 for prospective costs if Hyatt Corp. terminates its 36-year-old relationship with the property.
Last month, Hyatt Corp. sought to have its corporate flag removed from the hotel by June 1, but a temporary restraining order issued May 29 by Colaiacovo prevented that action. In his decision, Colaiacovo said “the nature of the dispute is difficult to isolate.” You can read the full story on Buffalo Business First's website.