Ryman Hospitality Properties’ agreement to purchase the JW Marriott Phoenix Desert Ridge Resort & Spa in Arizona
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.
By Shawn Turner