Minor Hotels has signed two agreements with Grupo Petra to broaden their commercial alliance in Paraguay.
The agreements focus on the assessment of future hospitality development prospects alongside a management contract for a 116-key property in Asunción.
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The four-star venue will trade under the NH Hotels & Resorts marque.
Under the strategic framework, Grupo Petra will pinpoint, structure and market hotel opportunities across Paraguay, which Minor Hotels will review for prospective operational contracts.
The initiative will focus on projects under the NH, NH Collection, and Tivoli banners, augmenting the operator’s footprint across the upscale, upper-upscale, and luxury tiers.
The joint effort will also examine urban centres experiencing substantial economic expansion backed by fresh capital inflows or strategic infrastructure works.
Grupo Petra president Carlos Guasti said: “This alliance with Minor Hotels represents a significant step in our vision to contribute to the evolution of the Paraguayan real estate and hospitality market through international-scale projects.
“At Grupo Petra, we work to bring global brands and operators to the country that offer expertise, top-tier standards, and new development opportunities.
“Paraguay is experiencing a period of real estate, corporate, and tourism growth, and we believe this collaboration will support that momentum with proposals capable of driving value for the sector, destinations, and the country’s positioning as an attractive market for investment.”
The latest agreement builds upon the existing relationship between the two organisations in Paraguay, anchored by Petra Imperiale, Grupo Petra’s primary development in Asunción.
That project is currently under construction and scheduled to launch in early 2030, featuring a hotel operating under the NH Collection brand.
Minor Hotels Europe and Americas CEO Gonzalo Aguilar said: “We are delighted to continue developing new agreements with Grupo Petra in Paraguay, a market where we see highly compelling opportunities for selective, long-term growth.
“This collaboration allows us to explore new projects alongside a local partner with deep market knowledge and strong development capabilities while leveraging the strength of our brands, our international operational expertise, and a global commercial platform.
“Our objective is to move forward with discipline, identifying opportunities that can deliver value for owners, guests and destinations.”
