Trinity Investments Sells Phoenix Hotel to Ryman REIT for $865M – Commercial Observer
One of the biggest hotel sales in recent years was just completed in the Valley of the Sun. Nashville, Tenn.-based Ryman Hospitality Properties has acquired the 950-room JW Marriott Phoenix Desert Ridge Resort & Spa from Trinity Investments for $865 million. Trinity purchased the hotel in 2019 for $602 million and oversaw a $100 million renovation that finished in 2023. SEE ALSO: NewMark Merrill’s Sandy Sigal Is a Realist About Retail’s Future The transaction marks the largest hotel sale of the year thus far, and the largest hospitality deal since RIDA...