Hyatt had generated $3.8bn in proceeds from selling owned hotel properties since the beginning of 2017. Credit: Pressmaster/ Shutterstock.com.

Hawaii-based real estate firm Trinity Investments is currently in discussions to acquire Park Hyatt Zurich, a five-star hotel in Switzerland.

A deal has not been finalised yet.

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Earlier this year, Hyatt Hotels enlisted real estate company Jones Lang LaSalle to market the property.

If materialised, a deal of the hotel could be valued at around SFr400m ($467m).

In March this year, Hyatt stated that it would continue managing the 138-room hotel under a long-term agreement post its divestment.

This move is said to be indicative of a wider trend seen in the hotel industry where major companies are trimming their assets by divesting the bulk of owned real estate while maintaining operational control of their hotels, reported the publication.

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Last month, Hyatt CEO Mark Hoplamazian said: “We continue to successfully execute our asset-light transformation and growth strategy while returning meaningful capital to shareholders.”

Hyatt had generated $3.8bn in proceeds from selling owned hotel properties since the beginning of 2017, added the CEO in August.

Trinity Investments, based in Honolulu, a city in Hawaii, expanded its presence with the opening of a London office, indicating its focus on the European hotel real estate market.

The company, led by CEO Sean Hehir, owns various hotels, including the Hyatt Regency Indian Wells Resort & Spa and the Hilton Los Cabos Beach & Golf Resort.

Both Trinity Investments and Hyatt have refused to comment on the latest development, reported the publication.

Earlier in December 2023, Hyatt Hotels announced the opening of Hotel Flüela Davos, the latest addition to The Unbound Collection by Hyatt brand, in Switzerland.

The hotel, located in the heart of Davos in the Swiss Alps, caters to independent travellers seeking a captivating experience.