GOVERNOR Ralph DLG Torres on Friday said he wants to see the Hyatt Regency Saipan land lease agreement extended.
The Department of Public Lands is still reviewing the proposal submitted by Hyatt whose 40-year land lease will expire in December this year.
Governor Torres said hopes to receive more updates from DPL, Hyatt, and the Office of the Attorney General regarding the renewal of the land lease agreement.
“At the end of the day, I’ll continue to say that I support Hyatt and I hope that we can continue to strengthen that partnership and hopefully see an extension of its lease soon,” he added.
The renewal of the Hyatt land lease is widely supported by the business community, including the Hotel Association of the Northern Mariana Islands and the Saipan Chamber of Commerce.
Both have noted that over the past 40 years, Hyatt has proven itself to be a responsible member of the CNMI business sector and community, complying with both local and national laws and regulations governing business operations.
In a letter to DPL in December, HANMI Chair Gloria Cavanagh said Hyatt has led the local hotel industry in the development and recruitment of local resident and U.S.-eligible workforce, even extending its expertise to assist other hotels and travel industry partners in increasing their own U.S.-eligible workforce.
She added that Hyatt has contributed millions of dollars worth of services, products and other donations to benefit the local community, including numerous nonprofit organizations.
“This is the caliber of investor the Commonwealth needs to retain,” she added.
The effect of the Covid-19 pandemic on worldwide travel, she added, also underscores the importance of renewing the Hyatt Regency Saipan lease, as tourism investors worldwide continue to face business losses and closure as a result of this pandemic.
Saipan Portopia, the company that operates Hyatt Regency Saipan, submitted to the Department of Public Lands in December of last year documents pertaining to its bid for a new land lease deal.
Public Law 20-84 increases the terms of public land leases for up to 40 years, and includes an extension of 15 years, amounting to a total of 55 years. It also authorizes certain public land leases to be amended and extended for up to 55 years.
Ralph DLG Torres
