Minor Hotels, Grupo Petra expand partnership in Paraguay; sign NH Hotel in Asunción
(L-R) Yuan Fang, Carlos Guasti, Justo Pastor Apodeca and Gonzalo Aguilar
Strategic agreement will explore further hotel development opportunities across Paraguay under the NH, NH Collection and Tivoli brands.
Minor Hotels and Grupo Petra, a real estate company in Paraguay, have signed two agreements in Madrid to strengthen their collaboration in the country. The agreements comprise a strategic partnership to explore new hotel development opportunities and a management contract for a new 116-room NH hotel in Asunción. The four-star property will operate under the NH Hotels & Resorts brand.
The agreements support Minor Hotels’ asset-light growth strategy, which is focused on expanding its portfolio through management and franchise agreements with strong local partners in markets with long-term development potential.
The strategic collaboration agreement establishes the framework for Grupo Petra to identify, structure and promote hotel opportunities in Paraguay, which Minor Hotels will evaluate as potential management opportunities. The partnership will focus on projects for the NH, NH Collection, and Tivoli brands, reinforcing the group’s presence in the upscale, upper-upscale and luxury segments.
Both groups plan to evaluate opportunities in Ciudad del Este and Encarnación (alongside Asunción), two markets that complement the capital’s leadership and present distinct demand profiles: the former linked to cross-border trade and business activity, and the latter associated with tourism, events, and residential development. The collaboration will also explore opportunities in other cities experiencing significant economic growth driven by new investment or benefiting from strategic infrastructure development. This approach will support the rollout of a more diversified hotel offering, aligned with evolving local, regional and international demand.
This initiative builds on the existing relationship between the two companies in Paraguay, which will reach its first milestone with Petra Imperiale, Grupo Petra’s flagship development in Asunción. The project, currently underway and scheduled to open in early 2030, will feature a hotel operating under the NH Collection brand, integrated into a mixed-use development designed to elevate the city's hospitality and urban offering.
Joining this initial project is the new NH hotel in Asunción, with construction scheduled to begin in the first quarter of 2027 and an estimated opening by late 2029. It will be a four-star hotel operating under the NH Hotels & Resorts brand, featuring 116 rooms.
The new hotel will be located on Calle Quesada and will feature a rooftop restaurant and bar, 244 square metres of meeting and event spaces, a gym, and an outdoor swimming pool.
Both agreements reflect the commitment of Minor Hotels and Grupo Petra to drive the development of hospitality in Paraguay, combining Minor Hotels’ operational, commercial, and distribution expertise with Grupo Petra’s local knowledge and real estate development capabilities.
Gonzalo Aguilar, CEO of Minor Hotels Europe & Americas, commented: “This collaboration allows us to explore new projects alongside a local partner with deep market knowledge and strong development capabilities, while leveraging the strength of our brands, our international operational expertise, and a global commercial platform. Our objective is to move forward with discipline, identifying opportunities that can deliver value for owners, guests and destinations.”
Carlos Guasti, president of Grupo Petra, noted: “At Grupo Petra, we work to bring global brands and operators to the country that offer expertise, top-tier standards, and new development opportunities. Paraguay is experiencing a period of real estate, corporate, and tourism growth, and 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 investment.”
Minor Hotels has a portfolio of over 640 operating properties and in development across 67 countries. The evaluation of future opportunities will be conducted on a case-by-case basis and will be subject to meeting the standards of each Minor Hotels brand.
