The Hyatt Regency, one of Mumbai's best known 5-star hotels, is set to shut down "until further notice". Indicating the financial strain it faces, the property's authorities have said they have no money to pay salaries. The hotel, located close to the Mumbai airport, is owned by Asian Hotels (West) Ltd. In a short statement released on June 7, the hotel’s General Manager Hardeep Marwah said the parent firm had not sent money for operations. The hotel industry has taken a major hit across the country since the pandemic reached India in January 2020. Travel has been reduced to a bare minimum amid the tourism slump & business slowdown. While the nationwide lockdown imposed last year left the industry struggling, the second Covid-19 wave struck early this year just as tourism & hospitality were beginning to look up again. Mumbai, dubbed the financial capital of India, is one of the most important hubs for the sector along with Delhi.