OAKLAND, Calif. (KGO) -- The upscale Waterfront Hotel in Oakland's Jack London Square will close on Friday.
"To hear that they are leaving is very disappointing. But understandable, because the traffic in Jack London is so slow," says Derreck Johnson, who runs the popular Home of Chicken and Waffles restaurant in Jack London Square.
Johnson says the Waterfront Hotel closing is a big deal because small mom and pop stores are dependent on big anchors.
MORE: Outcry over planned homeless shelter in Oakland's Jack London Square
"I know people want to keep Oakland ma and pa. I mean, I'm ma and pa. But my sales tripled when we had a Friday's, and El Torito - when I had all of that surrounding me," explains Johnson.
In a statement to ABC7 News, the hotel did not give details about why it is closing. Only to say: "Effective January 31, 2025 at 11:59 p.m. local time, Hyatt will no longer be operating the Waterfront Hotel, and we understand that the property will no longer be operated as a hotel at that time."
"That is a big hit. It is extremely frustrating, that we have hotels closing," says Loren Taylor, the former Oakland City Councilmember, who is now running for Oakland mayor in April's special election.
Taylor says the city has to do more to keep businesses from leaving.
MORE: 'It's lawless': 16 Oakland small businesses ransacked near Hegenberger corridor
"We got to work aggressively to fill them back up. To find another operator for the hotel. To find other folks to run the businesses that are anchored here, able to commit for a longer term. And we will support them. Because Oakland has to be open for business," says Taylor.
Oakland City Councilmember Carroll Fife who represents District 3, which includes Jack London Square, was not available for comment. But pointed out that the popular Dave and Buster's restaurant will be opening in a couple of months, saying, "It is better than an empty space," she wrote in a text message exchange.
"Dave and Buster's is coming in, which is a good sign. But we need more. Restaurants are not going to carry a city. At the end of the day, we need to figure out to get retail and some major national chains in here," says Johnson.
The City of Oakland says the hotel is under lease with the Port of Oakland. The Port of Oakland did not return request for comment.