Among
the noteworthy deals of the past week was Ryman Hospitality Properties’
agreement to purchase the JW Marriott Phoenix Desert Ridge Resort & Spa in
Arizona from Trinity Investments for $865 million.
PHOENIX —
Nashville-based REIT Ryman Hospitality Properties has signed an agreement to
purchase the 950-key JW Marriott Phoenix Desert Ridge Resort & Spa in
Arizona from Honolulu-based Trinity Investments for $865 million, one of the
largest hotel transactions so far in 2025.
“The JW
Marriott Desert Ridge has been one of our top acquisition targets for many
years. Given the limited availability of marquee group-focused assets that
complement our existing portfolio and group strategy, we are thrilled to
acquire this resort,” said Mark Fioravanti, president and CEO of Ryman.
“Considering the strength of our forward bookings, the durable nature of our
group business model and our early success with the 2023 acquisition of the JW
Marriott Hill Country, we believe this is the right transaction for creating
long-term customer and shareholder value.”
Trinity
purchased the property for $602 million in 2019 and in 2023 put nearly $100
million in capital investments into the resort, including renovating its rooms,
lobby, adding a new water complex and reimagining its F&B outlets. The
resort will continue to operate under the JW Marriott flag.
Click here
for more on this deal.
To download
our list of deals from the past week in Excel format, click here.