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[802SEC] Houston, we have a problem



What are we doing about the March 04 Plenary?  I just got this off the Hyatt website (http://hyattorlando.hyatt.com/):

 

 

Hyatt Hotels Corporation announces the impending closure of Hyatt Orlando located at 6375 West Irlo Bronson Memorial Highway, Kissimmee, Florida. After more than 30 years of service to the traveling public and the Orlando area community as a member of the Hyatt family of hotels, the hotel will close to the public on Friday, September 12, 2003.

Due to the unavailability of funds to maintain operations, the hotel is compelled to close. Since the initiation of bankruptcy proceedings by Orlando Hyatt Hotel Associates Limited, owner of the hotel, on April 24, 2002, Hyatt attempted to maintain normal hotel operations at Hyatt Orlando.

In the face of anticipated operating shortfalls, hotel ownership secured financing to cover shortfalls expected over the final months of 2003. Hotel ownership and Hyatt recently were advised by representatives of Lennar Partners, acting in their capacity as representatives of the hotel lender, that it was directing the filing of a motion to withdraw the committed interim financing.

Following efforts by Hyatt and hotel ownership to discuss an orderly transition or closure plan with Lennar Partners and the bankruptcy court's subsequent decision not to hear an emergency motion to compel the funding of the previously committed financing this week, hotel ownership directed Hyatt to commence the immediate closure of the hotel as directed by the owner and lender.

Efforts to avoid a sudden closure have been unsuccessful, and hotel ownership and Hyatt have been left no alternative but to close the hotel. Hyatt has no information as to the future of the hotel, which will be resolved through the bankruptcy proceeding.

Hyatt remains committed to Orlando and is grateful to the community for the many years of support to Hyatt Orlando. Hyatt values its relationship with the employees of the Hyatt Orlando and, to the degree possible, will attempt to offer employment at other Hyatt hotels in the Orlando-area where positions are available.

Guests with current reservations at Hyatt Orlando will be contacted by Hyatt's customer service department. Hyatt's Central Reservation Center in Omaha will no longer be accepting reservations for Hyatt Orlando as of the night preceding the closure date. 

If you have any questions about current reservations, please call 1-888-694-9288.

 

Matthew Sherman
Vice Chair, IEEE 802
Technology Consultant

Communications Technology Research
AT&T Labs - Shannon Laboratory
Room B255, Building 103
180 Park Avenue
P.O. Box 971
Florham Park, NJ 07932-0971
Phone: +1 (973) 236-6925
Fax: +1 (973) 360-5877
EMAIL: mjsherman@att.com