Henderson Park, the international private equity real estate firm, has completed the acquisition of Hyatt Regency Grand Reserve in RĂo Grande, Puerto Rico, in a joint venture with Pyramid Global Hospitality, which will serve as the operating partner. The transaction marks both companies’ first investment in Puerto Rico and expands Henderson Park’s portfolio to more than $5 billion of hotels and over 12,000 keys under management.
Hyatt Regency Grand Reserve is a beachfront resort situated on a private peninsula flanked by the Atlantic coastline and El Yunque National Forest. The property features 579 guestrooms, suites 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; and tennis and pickleball. Under new ownership, the resort will undergo targeted capital investments 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. We have found that in the Hyatt Regency Grand Reserve,” said Nick Weber, CEO and founder of Henderson Park. “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 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. “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.”
The acquisition further strengthens the existing partnership between Henderson Park and Pyramid, which already includes management of the Arizona Biltmore, LXR Hotels & Resorts in Phoenix, Ariz.; Naples Grande Beach Resort in Naples, Fla.; and La Quinta Resort & Club in Palm Springs, Calif., among others.