Trinity Investments has formed a strategic partnership with an affiliate of Certares Real Estate Management through the sale of a majority stake in Hyatt Regency Greenwich in Connecticut, US.
This collaboration marks another venture between the two companies, following their partnership in 2021 for the purchase of the EAST Miami hotel.
Trinity acquired the Hyatt Regency Greenwich in October 2022, and the hotel recently completed a $35m renovation to become a local suburban retreat.
Trinity managing partner, president and CEO Sean Hehir said: “We’re extremely proud of the transformation our team has achieved at Hyatt Regency Greenwich, repositioning it as a standout property in the region.
“Through a targeted renovation, we’ve created a distinctive hospitality experience that speaks to the expectations of today’s traveller. Partnering with Certares allows us to build on that momentum and drive continued growth.”
Inspired by Art Deco influences, the revitalisation improved the guest experience and re-established the hotel as a premier choice for travellers in Connecticut and Westchester, according to Trinity.
The hotel features 374 renovated guest rooms, approximately 35,000ft² of event space, an indoor saltwater lap pool, a fitness centre and a variety of signature dining options.
A new 40-seat cinema was also introduced under Trinity's ownership in partnership with Monoplex.
Certares senior managing director Nolan Hecht stated: “We’re excited to join forces with Trinity on Hyatt Regency Greenwich, a property that has been thoughtfully repositioned and primed for long-term success.
“As our 16th hotel acquisition in the last four years, the hotel is a perfect addition to our portfolio, which comprises high-quality lodging assets in supply-constrained markets experiencing demand growth.
“As the premier hotel for social and corporate group meetings in Fairfield County or Westchester County, we see a meaningful opportunity to capitalise on favourable market dynamics at this transformationally renovated hotel alongside our trusted partners at Trinity.”
This move follows Trinity's completion of more than $250m in hotel renovation projects across six assets throughout 2024.
