Trinity Investments and Oaktree Acquire Hyatt Regency Indian Wells Resort & Spa
Summary
“We are excited to once again partner with Oaktree to own and improve one of California’s premier resort destinations, as well as further our relationship with Hyatt, one of the world’s leading hotel companies. We believe that this acquisition is reflective of our ability to source and close highly attractive hospitality investments.” First opened in 1989, the 36-acre Hyatt Regency Indian Wells Resort & Spa has benefited from multiple improvements over time and currently features 88,000 square feet of indoor and outdoor event space, four food and beverage outlets, nine outdoor pools and a fitness and spa complex. The enhancement project included upgrades to select guestrooms and meeting spaces as well as the addition of a waterpark with dueling water slides and a lazy river, which has proven to drive strong transient demand, particularly during the summer season. “We are excited to acquire Hyatt Regency Indian Wells Resort & Spa, underpinning our belief in the growth of the greater Palm Springs hospitality market and the tailwinds of strong aging and wealth demographics in the Coachella Valley,” said John Brady, Managing Director and Head of the Global Real Estate group at Oaktree. “We look forward to expanding our relationship with Hyatt and partnering on yet another deal with the Trinity team.” Located within a two-hour drive from Los Angeles, Orange County, and San Diego, the Greater Palm Springs area is a well-established leisure market with multiple demand generators.