Trinity sells majority stake of Connecticut hotel to Certares

GREENWICH, Connecticut — Trinity Investments has sold a majority stake of the 374-key Hyatt Regency Greenwich in Connecticut to an affiliate of Certares Real Estate Management LLC for an undisclosed amount.

Trinity acquired Hyatt Regency Greenwich from Hyatt in October 2022 for $37.5 million, according to the assessor’s office, and has since completed a $35 million renovation with refreshed guest rooms and over 35,000 square feet of event space and multiple F&B outlets. Under Trinity’s ownership, the hotel also introduced Townsend Cinema, a new 40-seat movie theater developed in partnership with South Korea-based Monoplex.

This deal marks the second collaboration between Honolulu-based Trinity and New York City-based Certares, who first partnered in 2021 to purchase the East Miami hotel in Florida.

Trinity says it has completed more than $250 million in hotel renovation projects across six assets since 2024.

The hotel, which is the largest in the city, sits on a 14-acre site that housed Conde Nast’s printing press between 1921 and 1967. It was redeveloped as the Hyatt Regency Greenwich in 1986.

“We’re extremely proud of the transformation our team has achieved at Hyatt Regency Greenwich,” said Sean Hehir, managing partner, president and CEO of Trinity. “Through a targeted renovation, we’ve created a distinctive hospitality experience that speaks to the expectations of today’s traveler. Partnering with Certares allows us to build on that momentum and drive continued growth.”

“We’re excited to join forces with Trinity on Hyatt Regency Greenwich, a property that has been thoughtfully repositioned and primed for long-term success,” said Nolan Hecht, senior managing director at Certares. “As our 16th hotel acquisition in the last four years, the hotel is a perfect addition to our portfolio, which comprises high-quality lodging assets in supply-constrained markets experiencing demand growth… We see a meaningful opportunity to capitalize on favorable market dynamics at this transformational renovated hotel.”