LONDON: A consortium consisting of Trinity Investments, Oaktree Capital Management, and UBS Asset Management’s Real Estate & Private Markets Multi-Managers business has successfully acquired the prestigious Park Hyatt Zurich.

“The Park Hyatt Zurich is the perfect launch of Trinity’s business model into Europe,” said Ryan Donn, Managing Partner of Trinity Investments.

“We were able to identify a compelling business plan for the property under our stewardship and assemble best-in-class partners to undertake the investment. The transaction represents our third hotel acquisition from Hyatt, our seventh globally with Oaktree, and our second globally with UBS AM REPM MM. We could not be more thrilled to extend these relationships into the European arena.”

This 138-room luxury hotel, along with additional office space and parking facilities, was sold by an affiliate of Hyatt Hotels Corporation. Despite the change in ownership, the hotel will continue to operate under the Park Hyatt Zurich brand, thanks to a long-term management agreement with Hyatt.

Strategically located on an exclusive island plot within Zurich’s bustling central business district, Park Hyatt Zurich boasts the largest room capacity among luxury hotels in the area.

“This investment marks another significant milestone in the continued growth of our global hotel platform together with Trinity,” said Benjamin Bianchi, Managing Director and Head of Europe for Oaktree’s Real Estate group.

“We are also excited to continue our existing relationship with Hyatt with this trophy property in a market that has been historically difficult to access for international investors.”

The acquisition includes 138 well-appointed guestrooms and suites, extensive meeting and event space measuring 880 square meters, three dining venues, a modern fitness center, and a subterranean parking structure. The deal also encompasses nearly 4,000 square meters of prime office space.

This acquisition is particularly significant for Trinity Investments as it marks their inaugural venture into the European market and is a testament to their global expansion strategy.

“We are seeing strong growth in our business globally, and a key part of that is driven by high quality real estate co-investments. As such, we are pleased to be deepening our relationship with Trinity and Oaktree and believe this investment presents a strong investment case for our clients,” said Eric Byrne, Head of Multi-Managers, UBS AM REPM MM.

The London office of Trinity, which opened in July 2023 under the leadership of Managing Partner Ryan Donn, spearheaded this European acquisition.

The partnership between Trinity and Oaktree dates back to 2017 and has since seen joint investments totaling US $2.6 billion across seven hotel properties in the United States, Mexico, and Europe, collectively managing 4,640 rooms.

Additionally, this acquisition represents the second collaboration between Trinity and UBS AM REPM MM following their joint purchase of the Diplomat Beach Resort earlier in February 2023.

“We are excited about Park Hyatt Zurich’s future and to further strengthen the hotel’s positioning as an icon in Swiss luxury hospitality,” said Javier Águila, group president EAME, Hyatt.

“We want to extend our gratitude to Trinity, Oaktree and UBS for their collaboration in ushering in an exciting new chapter for the hotel under new ownership, as we care for Park Hyatt Zurich guests and customers and World of Hyatt members in even more meaningful ways.”

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