Multimillion-Dollar Renovations Planned For Greenwich Hotel

GREENWICH, CT — An investment fund managed by Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC ("Trinity"), announced last week the acquisition of Hyatt Regency Greenwich, a 373-key hotel located in Old Greenwich at 1800 E. Putnam Ave., according to a news release.

The hotel is the largest and only branded full-service hotel in Greenwich.

"This transaction represents a unique opportunity to acquire a market-leading full-service hotel at a discount to replacement cost and establish Trinity’s presence in the New York metropolitan area," said Trinity Managing Partner, President and CEO Sean Hehir, in a news release. "We are pleased to expand our relationship with Hyatt, and we look forward to leveraging our value-add experience and capabilities to enhance this exceptionally well-located hotel."

Trinity’s capital improvement plan outlines a multimillion-dollar renovation of the four-story hotel’s guest rooms, lobby and meeting space.

Trinity also plans to enhance the hotel’s amenities, replace the existing restaurant with a grab & go market, and re-concept the existing Gazebo Bar located in the hotel’s central atrium.

The hope is to elevate the hotel's appeal among hotel guests and local residents, making it an attractive venue for weddings, bar mitzvahs, social gatherings and corporate events.

"We believe our capital improvement plan, combined with strong population inflows and a lack of any full-service hotels under construction within a 15-mile radius, positions Hyatt Regency Greenwich to enjoy an increase in both business and leisure demand," added Hehir.

The hotel sits on a 14-acre site adjacent to I-95 near Stamford. The building once housed gamed publisher Condé Nast's printing press between 1921 and 1967, a news release said. It was redeveloped into the Hyatt Regency Greenwich in 1986, and has since gone through numerous renovations.

There is currently 35,000 square feet of meeting space, an indoor swimming pool, fitness center and salon.

"Hyatt Regency Greenwich delivers a seamless travel experience for guests, World of Hyatt members, and customers in the heart of Connecticut’s Old Greenwich, and we are pleased to continue managing this property under a long-term management agreement for many years to come," said Americas Group President for Hyatt Pete Sears, in a news release.

"We look forward to working with Trinity as they remain committed to further enhancing the guest experience and help us usher in the hotel’s next elevated chapter," he added.