Henderson Park, the international private equity real estate firm, has completed the acquisition of Hyatt Regency Grand Reserve in Rio Grande, Puerto Rico, in a joint venture with Pyramid Global Hospitality. The deal marks the first investment in Puerto Rico for both companies and brings Henderson Park’s portfolio to more than $5 billion in hotel assets and over 12,000 keys under management.
“Puerto Rico represents a highly attractive institutional market, and we have long sought the right opportunity to establish our presence here,” said Nick Weber, CEO and Founder of Henderson Park, in a press statement. “We have found that in the Hyatt Regency Grand Reserve. This investment is supported by compelling fundamentals, including robust demand from the U.S., expanding airlift, favorable tax incentives, and strong market dynamics. The island’s distinctive culture, vibrant community, and natural beauty make it a compelling destination for travelers and a place where we are proud to invest. We look forward to continuing to grow our presence in Puerto Rico over the long-term.”
Hyatt Regency Grand Reserve: Meaningful Milestone
Pyramid Global Hospitality has been named operating partner for the resort—an extension of a relationship that already covers several of Henderson Park’s properties, including the Arizona Biltmore, LXR Hotels & Resorts in Phoenix; Naples Grande Beach Resort in Naples, Florida; and La Quinta Resort & Club in Palm Springs, California.
“Hyatt Regency Grand Reserve represents an important opportunity for our team and a meaningful milestone as our first hotel in Puerto Rico, a market that has shown lasting strength and resilience as both a leisure and commercial destination,” said Warren Fields, CEO of Pyramid Global Hospitality, in a press statement. “Our focus will be on supporting the resort associates who deliver the guest experience every day, while also applying the disciplined operations, leadership, and performance mindset our partners expect across this complex, destination-driven resort.”
Located on a private peninsula between the Atlantic coastline and El Yunque National Forest, the resort has 579 guestrooms, suites and villas and serves both leisure travelers and large-scale group business. It boasts four pools, among them the largest lagoon-style pool on the island. The full-service Rainforest Spa rounds out the wellness options, and a Tom Kite-designed 27-hole championship golf course, tennis and pickleball are also on site.
Groups and event planners have access to 37,000 sq. ft. of flexible indoor and outdoor meeting and event space. Fourteen dining and drink venues round out the full-service experience.
Under new ownership, the property will receive targeted capital investment designed to elevate its offering across both the leisure and group segments.
For more information, visit pyramidglobal.com.
