Ryman Hospitality Completes Acquisition of JW Marriott Phoenix Desert Ridge

Ryman Hospitality Properties, Inc. has announced the completion of its acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa. Situated in the Sonoran Desert on 402 acres, the resort is a major lodging fixture in the Phoenix/Scottsdale area, featuring 950 guest rooms and 243,000 square feet of versatile event space. This acquisition reflects Ryman's continued expansion within the high-end hospitality sector, integrating the property into its extensive portfolio that already comprises leading non-gaming convention center hotels managed by Marriott International. Ryman aims to pursue value creation opportunities at the newly acquired resort and increase its footprint in the luxury hospitality market. The transaction, valued at approximately $865 million, allows Ryman to strategically enhance its portfolio, leveraging recent capital investments at JW Marriott Desert Ridge that include extensive renovations and improvements. The acquisition underscores Ryman's strategy to enhance its portfolio with differentiated, group-focused resorts.