Trinity Investments acquires Hyatt Regency Greenwich
GREENWICH, Conn.–(BUSINESS WIRE)–An investment fund managed by Trinity Fund Advisors LLC, a subsidiary of Trinity Real Estate Investments LLC (“Trinity”), today announced the acquisition of Hyatt Regency Greenwich, a 373-key hotel in Greenwich , Connecticut, one of the wealthiest communities in the United States and a major commuter market to New York. The hotel, which is the largest and only branded full-service hotel in Greenwich, is ideally located in a busy area and benefits from many demand drivers.
Trinity’s capital improvement plan envisions a multi-million dollar renovation of the four-story hotel’s guest rooms, lobby and meeting space. Trinity also plans to upgrade the hotel’s amenities, replace the existing restaurant with a take-out market, and redesign the existing Gazebo Bar located in the hotel’s central atrium. Trinity believes these efforts will enhance the hotel’s appeal to hotel guests and local residents, making it an attractive venue for weddings, bar mitzvahs, social gatherings and corporate events.
“This transaction represents a unique opportunity to acquire a market-leading full-service hotel at a discount to replacement cost and establish Trinity’s presence in the New York metropolitan area,” said Sean Hehir. , managing partner, president and CEO of Trinity. “We are delighted to expand our relationship with Hyatt, and look forward to leveraging our experience and value-added capabilities to enhance this exceptionally well-located hotel.”
Hyatt Regency Greenwich resides on a 14-acre site adjacent to I-95 and between Greenwich and Stamford in Fairfield County. The hotel, which is a 50-minute train ride or less than an hour’s drive from New York City, housed famed publisher Conde Nast’s print shop between 1921 and 1967 and was redeveloped as the Hyatt Regency Greenwich in 1986. It has since undergone numerous renovations, and currently boasts 35,000 square feet of meeting space, an indoor pool, fitness center, and lounge.
“The Hyatt Regency Greenwich provides a seamless travel experience for guests, World of Hyatt members and guests in the heart of Old Greenwich, Connecticut, and we are delighted to continue to manage this property under a long-term management for many years to come. said Pete Sears, Americas Group President, Hyatt. “We look forward to working with Trinity as they remain committed to further improving the guest experience and helping us usher in the next lofty chapter for the hotel.”
Fairfield County has been ranked in the top 30 counties nationally for net migration since March 2020. Additionally, the Stamford/Danbury submarket, where the hotel is located, is currently enjoying an imbalance in supply and demand caused by numerous hotel closures in Connecticut and Westchester. Departmental submarkets. “We believe our capital improvement plan, combined with strong population influxes and the absence of full-service hotels under construction within 15 miles, positions Hyatt Regency Greenwich to benefit from increased business and leisure demand,” Hehir said.
Hyatt Regency Greenwich represents Trinity’s seventh hotel transaction since the final closing of Trinity GP Fund I LP, Trinity’s inaugural fund, in 2021. These acquisitions include EAST Miami, W Hollywood, Omni San Diego Hotel, Hyatt Regency Indian Wells Resort & Spa and Four Seasons Resort Dallas at Las Colinas.
About Trinity Real Estate Investments LLC
Trinity is a privately held real estate investment firm specializing in value-added opportunities for 26 years. Based in Honolulu, Hawaii, with an office in Beverly Hills, California, Trinity focuses on unique real estate investments in world-class markets and has invested over US$8 billion in the United States, Mexico, Europe and in Japan by leveraging its deep institutional knowledge and longstanding local relationships. For more information, please visit Trinity’s website at www.trinityinvestments.com.