HONOLULU & LOS ANGELES – Trinity Investments LLC ("Trinity") and funds managed by Oaktree Capital Management, L.P. ("Oaktree") today announced the formation of a joint venture to invest up to $3 billion in high-quality, value added hotels in Trinity's core markets: Hawaii, California, Mexico and Japan. The joint venture will seek to invest alongside global institutional and high net worth partners in these markets.

This strategic partnership follows Trinity and Oaktree's recent acquisition of the long-term leasehold interest in The Westin Maui Resort & Spa from an affiliate of Starwood Hotels & Resorts. On a selective basis, the joint venture may also pursue hotel investments in select gateway markets in the United States. Trinity will oversee the joint venture and be responsible for its acquisitions and asset management.

"Expanding our relationship with Oaktree provides us with additional capital to increase our scale in our core markets," said Sean Hehir, president and CEO of Trinity. "Oaktree is a savvy investor who recognizes the success of our platform and shares our bullish outlook on these markets. We look forward to investing with Oaktree during these opportunistic times."

"This partnership aligns with Oaktree's strategy to invest with experienced partners in key strategic markets," said Ben Bianchi of Oaktree. "We are confident that Trinity's investment acumen and market knowledge coupled with our expertise will result in a highly attractive portfolio of hotel investments."

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $99 billion in assets under management as of June 30, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree's website at www.oaktreecapital.com.

About Trinity Investments 

Trinity is a global hospitality investment platform with a 29-year track record of acquiring, repositioning, and operating high-quality lodging assets in world-class markets. The firm is headquartered in Miami with offices in Los Angeles, London and Honolulu, and has deployed more than $10 billion across the United States, Mexico, Europe, and Japan. Trinity's strategy leverages deep sector expertise, long-standing brand and operating relationships, and a disciplined, hands-on approach to value creation. For more information, please visit www.trinityinvestments.com. For updates on Trinity's investment activity, follow Trinity on LinkedIn.

Jason Chudoba
ICR, Inc. for Trinity Investments
Trinity Investments, LLC