LionGrove picks up Wyndham Grand Río Mar resort
Hospitality investment firm LionGrove announced the purchase of the Wyndham Grand Río Mar Puerto Rico Golf & Beach Resort in Río Grande, for an undisclosed amount.
The beachfront property will continue to be part of the Wyndham Hotels & Resorts family and will retain its current Wyndham Grand brand, LionGrove executives said.
“We’re extremely pleased with this fantasctic new addition to the LionGrove portfolio,” said Andro Nodarse-León, founder and CEO of LionGrove.
“We now own three fantastic hotels and operate two of them on the beautiful island of Puerto Rico, representing almost 900 keys in combined rooms inventory,” he said, referring to the Wyndham Palmas Beach and Golf Resort in Palmas Del Mar, which it acquired in July 2021, as News is my Business reported.
The company also manages the Fairmont El San Juan Hotel in San Juan.
“This latest acquisition grows the LionGrove family to approximately 750 team members, across the two hotels we operate,” Nodarse-León said.
“With this acquisition, our firm grows as a unique, innovative hotel owner and operator while very favorably impacting the Puerto Rico hotel industry, economy and community” said Chris Sariego, senior managing director and COO of LionGrove.
“With our extensive expertise in the management and ownership of resort properties, we will ensure this amazing property and all of our other hotels in Puerto Rico reach the highest levels of excellence,” he said.
Meanwhile, LionGrove’s Senior Vice President and General Manager for the Wyndham Grand Río Mar, Amadeo Zarzosa, said “LionGrove has an incredible team of professionals that is committed to enriching the lives of our guests and team members.”
The Wyndham Grand Río Mar Puerto Rico Golf & Beach Resort sits on some 600 acres of land and features 400 guestrooms, nine restaurants, two championship golf courses and two tennis courts; spa; casino and approximately 100,000 square feet of indoor and outdoor spaces for wedding events, conferences and conventions.
Andrew Dickey and the team at JLL represented the seller. Mark Fisher and the capital markets team at JLL represented the LionGrove alongside its CIO, Phil Wade, on the financing of the acquisition.
