LionGrove has acquired the Wyndham Grand Rio Mar Puerto Rico Golf & Beach Resort in Rio Grande, Puerto Rico, as well as its 7,000-square-foot casino.
The Resort will remain a member of the Wyndham Hotels & Resorts family and will continue to operate under the Wyndham Grand name.
“We are overjoyed with this fantastic new addition to the LionGrove portfolio,” stated Andro Nodarse-León, LionGrove’s founder and CEO. “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.”
The Wyndham Grand Rio Mar Puerto Rico Golf & Beach Resort joins the Wyndham Palmas Beach & Golf Resort as the LionGrove team’s second renowned Puerto Rico resort. “With our recent addition, the LionGrove family now numbers about 750 team members across the two hotels we operate,” Mr. Nodarse-Leon continued.
“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.”
LionGrove Senior Vice President Amadeo Zarzosa has been named General Manager of the Wyndham Grand Rio Mar. “LionGrove has an excellent team of specialists that are dedicated to enriching the lives of our visitors and team members,” Mr. Sariego said.
JLL’s Andrew Dickey and his team represented the seller. JLL’s Mark Fisher and the capital markets team worked with LionGrove’s Chief Investment Officer, Phil Wade, to finance the transaction.
Only 30 minutes from the San Juan metropolitan area and right in front of the ocean to enjoy the beautiful Rio Grande beach, the Wyndham Grand Rio Mar Puerto Rico Golf & Beach Resort is located on approximately 600 acres of beautifully manicured landscape with two miles of beachfront and picturesque views of El Yunque National Forest, the only tropical rainforest in U.S. The resort features 400 well-appointed guestrooms; nine restaurants; two championship golf courses designed by the leader in golf club management, Troon Golf; 11 Har-Tru® and two Laykold® tennis courts; spa; casino and approximately 100,000 square feet of diverse indoor and outdoor spaces for wedding events, conferences and conventions. The resort attracts international travelers and the local community as the perfect caribbean oasis for families, couples and business travelers.