⬆︎ From left to right: Yuan Fang, SVP Development, Minor Hotels Europe and Americas, Carlos Guasti, President of Grupo Petra, Justo Pastor Apodeca, Ambassador of Paraguay in Spain, Gonzalo Aguilar, CEO of Minor Hotels Europe and Americas and Sebastian García, Institutional Affairs Director of Grupo PetraA shared framework to structure the Paraguayan pipeline
Minor Hotels, which reports more than 640 properties in operation and under development across 67 countries, and Grupo Petra have concluded two separate agreements. The first is a strategic collaboration agreement designed to explore new hotel development opportunities in Paraguay. The second is a management agreement for a 116-room, four-star hotel in Asunción under the NH Hotels & Resorts brand.
The partnership sets out a clear division of roles. Grupo Petra will identify, structure and develop hotel projects in the country, which Minor Hotels will then assess as potential management agreements. The projects in question concern the NH, NH Collection and Tivoli brands, with the aim of strengthening the group’s presence in the upscale, upper upscale and luxury segments.
Each project will be considered on a case-by-case basis and must meet the standards of the relevant brand. For Minor Hotels Europe & Americas, the agreement combines the group’s operational, commercial and distribution expertise with its partner’s local market knowledge and real estate development capabilities.
Asunción, Ciudad del Este and Encarnación in the spotlight
Paraguay is emerging as one of South America’s most dynamic markets for real estate and tourism investment. It benefits from a stable macroeconomic environment, an infrastructure improvement programme and growing demand for accommodation across the leisure, business and MICE segments.
Asunción, the country’s main financial, economic and administrative centre, remains the anchor of the partnership. The two groups will also examine opportunities in Ciudad del Este, driven by cross-border trade and business activity, and in Encarnación, where demand is underpinned by tourism, events and residential development.
The collaboration will extend to other cities experiencing strong economic growth, supported by new investment or strategic infrastructure. The stated objective is to roll out a more diversified hotel offer, in step with changing local, regional and international demand.
A 116-room NH at the heart of the financial district
The pair’s second project in Paraguay, the new NH hotel is due to begin construction in the first quarter of 2027, with opening estimated for late 2029. The property will be located on Calle Quesada, close to the Shopping Mariscal mall, the offices of the Inter-American Development Bank, the major local banks and the main landmarks of the financial district.
The address offers direct access to Mariscal López and San Martín avenues, and lies 20 minutes from Silvio Pettirossi International Airport and 10 minutes from the World Trade Center Asunción. It sits in one of the capital’s areas where property values are rising fastest.
Facilities will include a rooftop restaurant and bar, 244 sq m of meeting and event space, a fitness room and an outdoor swimming pool.
Petra Imperiale, the partnership’s first milestone
These agreements build on an existing relationship between the two groups around Petra Imperiale, Grupo Petra’s flagship project in Asunción. This mixed-use development, currently under construction, will house an NH Collection hotel, which marked Minor Hotels’ entry into Paraguay. Its opening is now scheduled for early 2030.
Our analysis – By moving from a standalone project to a framework agreement, Minor Hotels is entrusting the origination* of deals to a local developer while retaining control over asset selection. This model allows the group to gradually build a national pipeline without capital commitment, alongside a partner already proven on a project under way.
* What is origination: Origination refers to the entire process of creating, identifying and structuring a financial transaction (a loan, or a bond or share issue) carried out by a financial institution on behalf of a client.
Asset-light growth backed by local partners
These signings form part of Minor Hotels’ asset-light strategy, which favours management and franchise agreements with strong local partners in markets with high long-term potential. The group applies the same approach in Europe, as illustrated by its takeover of the management of three By Salomon Hospitality hotels under the NH brand.
Gonzalo Aguilar, CEO of Minor Hotels Europe & Americas, said the group was delighted to continue developing new agreements with Grupo Petra in Paraguay, a market in which it sees very attractive opportunities for selective, long-term growth. He explained that the collaboration allows Minor Hotels to explore new projects alongside a local partner with in-depth market knowledge and strong development capabilities, while drawing on the strength of its brands, its international operating expertise and a global commercial platform. The aim, he added, is to move forward with discipline, identifying opportunities capable of creating value for owners, guests and destinations.
For Carlos Guasti, president of Grupo Petra, the alliance with Minor Hotels marks an important step in the group’s vision of contributing to the evolution of Paraguay’s real estate and hotel market through projects of international calibre. He said Grupo Petra is working to bring global brands and operators to the country that contribute their expertise, first-class standards and new development opportunities. With Paraguay going through a period of real estate, corporate and tourism growth, he believes the collaboration will support that momentum with proposals capable of creating value for the sector, the destinations and the country’s positioning as an attractive investment market.
With these agreements, Minor Hotels confirms its commitment to strategic, sustainable growth in Latin America, built on flexible and replicable hotel management models alongside local partners.
At a glance by The Hospitality Tribune
Minor Hotels and Grupo Petra deepen their Paraguay partnership
Management agreement signed for a 116-room, four-star NH hotel in Asunción, opening expected late 2029
Construction to start in Q1 2027 on Calle Quesada, in the capital’s financial district
Strategic framework to source NH, NH Collection and Tivoli projects in Asunción, Ciudad del Este and Encarnación
Second project with Grupo Petra after the NH Collection at Petra Imperiale, due early 2030
Deal aligned with Minor Hotels’ asset-light growth model through management and franchise agreements
