BY JAMES WILKINSON

Hyatt of Australia Limited is back running the Clive Palmer-owned Hyatt Regency Coolum for at least another week after the Queensland Supreme Court reinstated the international hotel chain as managers.

Popular events hotel: Hyatt Regency Coolum

Palmer filed an action in the Queensland Supreme Court earlier this week accusing the Chicago-based organisation of “siphoning $60 million” from the property since it opened 24 years ago.

“Due to the conduct of Mr Palmer and his companies, Hyatt reluctantly had to approach the Supreme Court in Brisbane today (Feb 21) to protect the hotel and its staff,” Hyatt said in a statement. “Hyatt was successful in obtaining orders reinstating Hyatt as manager.”

As such, Hyatt Regency Coolum’s General Manager Maurice Holland, who was sacked by billionaire Palmer earlier in the week, has returned to running the property which first opened in the late-1980s.

“Hyatt of Australia Limited has been managing the Hyatt Regency Coolum for the past 24 years (and) since the hotel’s opening in 1988, Hyatt has been very proud to be associated with the hotel,” Hyatt said.

“We were extremely surprised to receive notice that the hotel’s owner wished to terminate our long-standing management agreement and strongly disagree with Mr Palmer’s characterization of our performance.

“Mr Palmer has made a number of further baseless allegations about Hyatt (and) Hyatt vigorously denies these allegations,” Hyatt said.

Earlier this week, The Sunshine Coast Daily reported Palmer as saying: “We believe Hyatt has been siphoning funds over the years back to their headquarters in Chicago and there has been a major cover up of these activities… We have uncovered this activity since taking over the resort last year.”

The matter is due to return to the Queensland Supreme Court next week.