The Park Hyatt Zurich Has Been Sold

Thu, Apr 4th 2024

The iconic Zurich Park Hyatt embarks on a transformative journey with acquisition by Trinity Investments.

Park Hyatt Zurich, a prominent 138-room luxury hotel in Zurich’s central district, has been purchased by a partnership of Trinity Investments, Oaktree Capital Management, and UBS Asset Management’s Real Estate & Private Market business (UBS AM REPM MM) according to a press release. This marks a significant investment by these entities into the Swiss hotel market.

An affiliate of Hyatt Hotels Corporation sold the hotel but will continue to operate it as Park Hyatt Zurich, and this name is unlikely to change soon.

The acquisition includes the hotel’s luxurious amenities, such as meeting and event spaces, dining options, a fitness center, and underground parking. Additionally, over 3,800 square meters of office space on the property were included in the deal.

Ryan Donn of Trinity Investments expressed enthusiasm for the acquisition, highlighting it as an essential step for Trinity’s expansion into Europe. He noted the collaboration with Oaktree and UBS AM REPM MM as crucial to the investment’s success.

Oaktree’s Benjamin Bianchi emphasized the value of continuing their relationship with Hyatt through this significant acquisition in a competitive market. Eric Byrne from UBS AM REPM MM pointed out the substantial potential of investment for their clients, which is driven by high-quality real estate co-investments.

Hyatt’s Javier Águila looks forward to enhancing the hotel’s luxury offerings under the new ownership. The acquisition is Trinity’s first in Europe and builds on its successful partnerships, including previous hotel investments with Oaktree and UBS AM REPM MM.

Trinity Investments, with a history in real estate investment and Oaktree and UBS AM REPM MM, aim to leverage this acquisition to further strengthen their global portfolios, particularly in the luxury hotel sector.

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