Hyatt Hotels Corp., Chicago, is back helming the Hyatt Regency Coolum, located in Coolum Beach, Australia, after the Queensland Supreme Court ruled that Hyatt must be reinstated as manager of the property.
The property’s owner, Australian business magnate Clive Palmer, has accused Hyatt of “siphoning US$60 million” from the property over the past 24 years and is trying to terminate the management agreement. Hyatt has denied the allegation.
The case will return to the Queensland Supreme Court next week.
