Minor Hotels and Grupo Petra Forge Strategic Partnership to Expand Footprint in Paraguay
MADRID – Global hospitality powerhouse Minor Hotels has announced a major expansion in South America, signing a two-part agreement with Paraguayan real estate leader Grupo Petra to accelerate development across the country. The deal, inked in Madrid, establishes a long-term framework for growth while confirming plans for a brand-new, 116-room NH property in Asunción.
The strategic partnership is designed to leverage Minor Hotels’ “asset-light” growth strategy. By combining the global operational expertise and extensive distribution network of Minor Hotels with the deep local market knowledge of Grupo Petra, the companies aim to identify and develop projects under the NH, NH Collection, and Tivoli brands.
“We are delighted to continue developing new agreements with Grupo Petra in Paraguay, a market where we see highly compelling opportunities for selective, long-term growth,” said Gonzalo Aguilar, CEO of Minor Hotels Europe & Americas. “This collaboration allows us to leverage the strength of our brands and our global commercial platform while working alongside a partner with strong development capabilities.”
Paraguay has emerged as an increasingly dynamic player in the Latin American investment landscape. Backed by macroeconomic stability and a robust national infrastructure agenda, the country is seeing a surge in demand for high-quality accommodation across the corporate, leisure, and MICE (Meetings, Incentives, Conferences, and Exhibitions) sectors.
The immediate highlight of the new partnership is the development of a 116-room NH Hotel on Calle Quesada, situated in one of Asunción’s most prestigious financial and commercial districts. Construction is slated to begin in early 2027, with an expected opening by late 2029. The property will offer high-end amenities, including a rooftop restaurant and bar, a fitness center, an outdoor pool, and 244 square meters of flexible meeting space. The location provides prime access to major banking headquarters, the World Trade Center Asunción, and the capital’s key thoroughfares.
This project follows the groups’ initial collaboration on “Petra Imperiale,” a mixed-use development currently underway in Asunción that will house an NH Collection hotel upon its projected opening in 2030.
Beyond the capital, the partnership has its sights set on secondary growth engines. Minor Hotels and Grupo Petra plan to evaluate development opportunities in the commercial hub of Ciudad del Este and the tourism-centric destination of Encarnación. These areas represent complementary demand profiles—ranging from cross-border trade activity to leisure and event-driven tourism—that fit well within the diverse portfolios of the Minor Hotels brand family.
Carlos Guasti, president of Grupo Petra, emphasized the significance of the alliance: “Paraguay is experiencing a period of real estate, corporate, and tourism growth. We believe this collaboration will support that momentum with proposals capable of driving value for the sector, destinations, and the country’s positioning as an attractive market for international investment.”
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