Finance Minister Colm Imbert has said he will investigate the decision by the Hyatt Regency hotel that it will no longer be accepting the Trinidad and Tobago currency (One TT dollar=US$0.16 cents), preferring instead currencies from the United States and Europe.
In a statement posted on Facebook and other social media platforms over the weekend, the state-owned hotel said the measure would go into effect from November 1, this year.
“Effective November 1, 2024, all transactions at Hyatt Regency Trinidad will be mainly cash-free for a faster, smoother, and more secure experience. We accept all major credit cards, debit cards and only US dollars, British pound sterling, and Euro dollars.”
The hotel has since rescinded the statement.
A screenshot of the brief statement issued by Minister of Finance Colm Imbert in his social media platforms, on the release by Hyatt Regency, which the hotel has since rescinded. [Image courtesy Colm Imbert via X (formerly Twitter)]
Posting on X (formerly Twitter), Minister Imbert said that the Hyatt recently announced, “a contentious decision to stop accepting TTD cash while accepting USD and GBP cash.” He noted it was quickly rescinded.
“As corporation sole the MOF (Ministry of Finance) has no oversight role over the operations of the Hyatt,” Imbert said in the brief statement, “but will investigate the currency aspect of the matter.”
The hotel has since apologised for its statement regarding cashless payment options, saying it was prematurely distributed and contained inaccurate information.
The hotel’s general manager, Michael Hooper said “at this time”, Hyatt Regency Trinidad will not be implementing any changes to its payment process.
“A message regarding cashless payment options at the Hyatt Regency Trinidad hotel was prematurely distributed with inaccurate information. At this time, we will not be implementing any changes to our payment process. We wish to apologise for any confusion or inconvenience caused,” Hooper said. —PORT OF SPAIN, Trinidad (CMC)
