275 Room Hyatt Hotel Portfolio Equipped in Puerto Rico

JLL’s Motels & Hospitality group announced the day old to this that it organized the sale and acquisition financing of a two-property, premium decide out-service lodge portfolio totalling 275 rooms in San Juan, Puerto Rico. The portfolio contains the 149-room Hyatt Direct San Juan and the 126-room Hyatt Dwelling San Juan.

JLL worked on behalf of the seller and normal developer PRISA Crew with McV Consulting, and procured the purchaser, JRK Property Holdings. Additionally, JLL worked on behalf of the purchaser to fetch the seven-yr, mounted-payment acquisition mortgage thru Oriental Financial institution, a number one bank in Puerto Rico and U.S. Virgin Islands.

Situated at Avenida Fernandez Juncos 580, the Hyatt Direct San Juan was in-constructed 2016 and renovated in 2023. The property aspects 3,096-sq. feet of meeting apartment, a bar, market, gymnasium and out of doorways pool with a baby’s waterpark.

The Hyatt Dwelling San Juan is located at 615 Ave Fernandez Juncos Distrito de Convenciones. Constructed in 2014 and renovated in 2023, the property boasts 980-sq.-feet of meeting apartment, a bar, market, gymnasium and out of doorways pool.

The properties are ideally positioned in the center of San Juan, Puerto Rico’s booming capital and are strolling distance from the Puerto Rico Conference Center, San Juan Bay Marina and the one-of-a-kind leisure venue, Distrito T-Mobile. San Juan is the center and soul of the Caribbean, alluring travellers from all over the arena to explore the intersection of the save the Dilapidated World meets the soundless, thru its historical neighbourhoods, pristine beaches and appealing nightlife, all whereas closing in a U.S. jurisdiction.

San Juan’s lodging market is one amongst doubtlessly the most fetch lodging markets in the U.S. when taking into record RevPAR volatility for 20 consecutive years (2000-2020). It advantages from the ideal steadiness between the stability of the lodging market performance, excessive RevPAR ranges and no provide pipeline.

Motels in San Juan currently submit the absolute best RevPAR performance in the U.S. outperforming Miami, Oahu Island and Contemporary York City, and rob pleasure in stronger margins which potential that of a good tax ambiance, sturdy airlift, and a 30-yr historical previous of restricted provide growth.

As shared in JLL’s U.S. Decide-Service and Prolonged-Conclude Hotel Outlookinvestors proceed to gravitate against the decide out-service sector which potential that of its abundant inquire of-immoral, lean working model and constant performance.

The JLL Motels & Hospitality group was led by Managing Director Andrew Dickey, Senior Director Maciej Polek and Managing Director Ticket Fisher.