LionGrove today announces the purchase of Wyndham Grand Rio Mar Puerto Rico Golf & Beach Resort in Rio Grande, Puerto Rico. The resort will continue to be part of the Wyndham Hotels & Resorts family and retain its current Wyndham Grand brand.
“We are extremely pleased with this fantastic new addition to the LionGrove portfolio,” said Andro Nodarse-León, Founder and CEO of LionGrove. “We now own three fantastic hotels and operate two on the beautiful island of Puerto Rico, representing nearly 900 keys in the combined room inventory.”
Wyndham Grand Rio Mar Puerto Rico Golf & Beach Resort joins Wyndham Palmas Beach & Golf Resort as the second renowned resort in Puerto Rico to be owned and operated by the LionGrove team. “This latest acquisition brings the LionGrove family to approximately 750 team members across the two hotels we operate,” added Mr. Nodarse-Leon.
“Through this acquisition, our company is growing as a unique and innovative hotel owner and operator while having a very positive impact on the hotel industry, economy and community of Puerto Rico,” said Chris Sariego, Director Senior General and COO of LionGrove. “With our extensive expertise in managing and owning resort properties, we will ensure that this magnificent property and all of our other hotels in Puerto Rico achieve the highest levels of excellence.”
Amadeo Zarzosa, senior vice president of LionGrove, has been named general manager of Wyndham Grand Rio Mar. “LionGrove has an incredible team of professionals who are committed to enriching the lives of our guests and team members.” , concluded Mr. Sariego.
Andrew Dickey and the JLL team represented the seller. Mark Fisher and JLL’s capital markets team represented LionGrove alongside its chief investment officer, Phil Wade, in financing the acquisition.