In Brief: Minor Hotels and Grupo Petra signed agreements in Madrid covering a 116-room NH hotel in Asunción and the evaluation of additional hotel projects in Paraguay.
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Minor Hotels and Grupo Petra Sign Paraguay Development Agreements – Image Credit Minor Hotels
Minor Hotels and Grupo Petra signed a strategic collaboration agreement to identify, structure and promote hotel opportunities in Paraguay, along with a management contract for a four-star NH Hotels & Resorts property in Asunción.
Construction on the new NH hotel is scheduled to begin in the first quarter of 2027, with opening expected by late 2029. The property will have 116 rooms and will be located on Calle Quesada in Asunción.
The hotel site is near Shopping Mariscal, the Inter-American Development Bank offices, local banks and sites in Asunción’s financial district. It will have direct access to Mariscal López and San Martín avenues and will be located 20 minutes from Silvio Pettirossi International Airport and 10 minutes from World Trade Center Asunción.
Plans for the property include a rooftop restaurant and bar, 244 square meters of meeting and event space, a gym and an outdoor swimming pool.
Under the strategic collaboration agreement, Grupo Petra will identify, structure and promote hotel opportunities that Minor Hotels will evaluate as potential management projects. The agreement covers projects under the NH, NH Collection and Tivoli brands.
The companies plan to evaluate opportunities in Ciudad del Este, Encarnación and Asunción. They will also explore opportunities in other cities with economic growth tied to new investment or strategic infrastructure development.
The agreements follow an existing relationship between the companies in Paraguay. Their first project is planned at Petra Imperiale, a Grupo Petra development in Asunción that is underway and scheduled to open in early 2030. The mixed-use project will include a hotel operating under the NH Collection brand.