Trinity Investments secures $210 million refinancing for Grand Hyatt Indian Wells
The 531-key Coachella Valley resort recently completed a $62 million renovation and conversion to the Grand Hyatt flag.
At a glance
The property recently completed a $62 million renovation and conversion to the Grand Hyatt flag, the report says.
The $210 million refinancing works out to roughly $395,000 per key, against roughly $117,000 per key of renovation spending.
Trinity Investments has secured $210 million in refinancing for the Grand Hyatt Indian Wells Resort & Villas, IREI reported on Oct. 16. The 531-key resort sits on a 45-acre campus in Indian Wells, Calif., at 44600 Indian Wells Lane.
The property recently completed a $62 million renovation and conversion to the Grand Hyatt flag, the report says. Its 531 accommodations break down as 449 guest rooms, 39 suites and 43 villas. The resort also has more than 88,000 square feet of indoor and outdoor meeting and event space, nine pools, a 30,000-square-foot spa and six food-and-beverage venues. The property carries an AAA Four Diamond rating, and the report's market case rests on luxury leisure travel, corporate retreats, championship golf and drive-to access from Los Angeles, San Diego and Phoenix.
The $210 million refinancing works out to roughly $395,000 per key, against roughly $117,000 per key of renovation spending. The report does not name a lender, a rate or a term, so how the new debt is sized against the converted asset's income is not visible in it.
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