Taiwan Firm Buys Cigna’s Registry Hotel, Universal City

A Taiwan industrial firm has bought the 24-story Registry Hotel on the edge of Universal Studios from Cigna, an insurance holding company, Registry officials confirmed Sunday. Terms of the sale were not disclosed.

Tuntex, a textile and petrochemical concern, will close the 450-room luxury hotel Jan. 31 to renovate the 5-year-old building in Universal City.

The hotel’s 420 employees will receive severance pay and help in finding new jobs, said Peter Ambros, Registry vice president. Some have accepted jobs in the Dallas-based hotel-management company’s properties in Florida, North Carolina, Minnesota and Colorado, he said.

The Registry will help relocate clients who had booked stays after Jan. 31, said general manager John Mavros. Those with reservations through Jan. 30 will be unaffected.

The hotel initially was run by Sheraton, but after Hartford, Conn.-based Cigna became principal owner three years ago it switched management to Registry, which operates other Cigna hotels.

“Cigna informed us that the property will close on Jan. 30 and that Tuntex does not wish to keep any employees on the payroll,” Ambros said in a joint statement with Cigna. “We have no choice but to abide by the terms of the contract.”

Mavros said employees will receive from four to nearly six weeks severance pay. The search for new jobs will be improved by the fact that at least two major hotel chains--Guest Quarters and Hyatt--are scheduled to open major properties next year in Santa Monica. Ambros added that Registry is considering other management opportunities in Los Angeles that could produce additional openings by mid-year.

Tuntex officials could not be reached Sunday for comment.