A Henderson Park and Pyramid Global Hospitality joint venture acquired the Hyatt Regency Grand Reserve in Río Grande, Puerto Rico. Pyramid will operate the hotel. It is both companies’ first investment in Puerto Rico. Other terms and conditions were not disclosed.
Hyatt Regency Grand Reserve is a premier beachfront resort situated on a private peninsula in Río Grande, Puerto Rico, flanked by the Atlantic coastline and the El Yunque National Forest. The resort has 579 guestrooms, suitea and villas; four pools, including the largest lagoon-style pool on the island; 37,000 square feet of flexible indoor and outdoor meeting and event space; 14 dining and drink venues; the full-service Rainforest Spa; access to a Tom Kite–designed, 27-hole championship golf course; tennis and pickleball, and more.
Under its new ownership and management, the property will undergo targeted capital investments to elevate the resort’s offering across both group and leisure segments.
“Puerto Rico represents a highly attractive institutional market, and we have long sought the right opportunity to establish our presence here," Henderson Park Founder and CEO Nick Weber said in a 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.”
Pyramid will manage the 579-room beachfront resort. This relationship already includes management of several of Henderson Park’s premier resort assets, including the Arizona Biltmore, LXR Hotels & Resorts in Phoenix; Naples Grande Beach Resort in Naples, Fla.; and La Quinta Resort & Club in Palm Springs, Calif., and others.
“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 Pyramid CEO Warren Fields. "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.”