An investment fund managed by Trinity Fund Advisors, has acquired 373-key hotel Hyatt Regency Greenwich, in Greenwich, Connecticut, US.
The capital improvement plan of Trinity Fund Advisors, an affiliate of Trinity Real Estate Investments, involves a multi-million-dollar renovation of the four-story hotel’s guest rooms, lobby, and meeting space.
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It also intends to improve the hotel’s amenities, replace the current restaurant with a grab-and go- away market, and re-concept the present Gazebo Bar in the hotel’s central atrium.
Trinity managing partner president CEO Sean Hehir said: “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.
“We are pleased to expand our relationship with Hyatt, and we look forward to leveraging our value-add experience and capabilities to enhance this exceptionally well-located hotel.”
Located on a 14-acre site next to I-95 and between Greenwich and Stamford in Fairfield County, the hotel, is a 50-minute train ride from New York City.
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By GlobalDataThe hotel is claimed to be the largest and only branded full-service hotel in Greenwich.
It features 35,000ft2 of meeting space, an indoor swimming pool, a fitness centre and a salon.
Hyatt Americas group president Pete Sears said: “Hyatt Regency Greenwich delivers a seamless travel experience for guests, World of Hyatt members, and customers in the heart of Connecticut’s Old Greenwich, and we are pleased to continue managing this property under a long-term management agreement for many years to come.
“We look forward to working with Trinity as they remain committed to further enhancing the guest experience and help us usher in the hotel’s next elevated chapter.”
Hyatt Regency Greenwich marks Trinity’s seventh hotel deal since the final closing of Trinity GP Fund I L.P, last year.
These acquisitions include Hyatt Regency Indian Wells Resort & Spa, W Hollywood, Omni San Diego Hotel, EAST Miami, and Four Seasons Resort Dallas at Las Colinas.
