Trinity Investments Partners with Certares to Sell Majority Stake in Hyatt Regency Greenwich

Trinity Investments has sold a majority stake in Hyatt Regency Greenwich to Certares Real Estate Management. Trinity acquired the hotel in October 2022 and completed a $35 million renovation, elevating the guest experience. The partnership marks the second collaboration between Trinity and Certares, who previously partnered to purchase the EAST Miami hotel. The sale follows Trinity's completion of over $250 million in hotel renovation projects across six assets in 2024.

Trinity Investments has sold a majority stake in Hyatt Regency Greenwich to Certares Real Estate Management. The sale follows a comprehensive $35 million renovation completed by Trinity, which significantly enhanced the guest experience at the historic hotel. This transaction marks the second collaboration between Trinity and Certares, who previously partnered to purchase the EAST Miami hotel in 2021.

Hyatt Regency Greenwich, located in historic Greenwich, Connecticut, underwent a significant transformation under Trinity's ownership. The renovation included the refreshment of 374 guest rooms, the addition of over 35,000 square feet of event space, an indoor saltwater lap pool, a state-of-the-art fitness center, and multiple signature dining experiences. Additionally, Trinity introduced Townsend Cinema, a 40-seat luxury movie theater developed in partnership with Monoplex.

The sale of the majority stake to Certares follows Trinity's completion of over $250 million in hotel renovation projects across six assets in 2024. Certares, a global investment firm focused on the travel and hospitality industries, sees potential in Hyatt Regency Greenwich, particularly as a premier hotel for social and corporate group meetings in Fairfield County or Westchester County.

"Trinity is extremely proud of the transformation achieved at Hyatt Regency Greenwich," said Sean Hehir, Managing Partner, President, and CEO of Trinity. "Partnering with Certares allows us to build on that momentum and drive continued growth."

Nolan Hecht, Senior Managing Director at Certares, added, "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."

This acquisition is the 16th hotel acquisition for Certares in the last four years, following their launch of the real estate platform in 2021. The firm has a strong track record of investing in high-quality lodging assets in supply-constrained markets experiencing demand growth.

References:
[1] https://finance.yahoo.com/news/trinity-investments-forms-strategic-partnership-130000231.html
[2] https://www.hoteldive.com/news/certares-acquires-hyatt-regency/758250/
[3] https://www.citybiz.co/article/734227/trinity-investments-sells-majority-stake-in-hyatt-regency-greenwich-to-certares-affiliate/