Trinity Investments, a U.S.-based hospitality-focused real estate investor, announced the sale of the JW Marriott Phoenix Desert Ridge Resort & Spa, a 950-room hotel and the largest resort in Phoenix, to Ryman Hospitality Properties for $865 million.
Trinity acquired the asset in 2019 for $602 million, with financial backing from Elliott Investment Management. In 2023, Trinity completed a nearly $100 million renovation project for the property, refreshing the lobby; completely redesigning guest rooms; adding a full water park complex; and opening two new signature dining destinations, including Tía Carmen, led by acclaimed executive chef Angelo Sosa.
“This sale is a prime example of how Trinity’s proven value-add platform and successful repositionings continue to drive enhanced operational and financial performance through active asset management,” said Sean Hehir, managing partner, president and CEO at Trinity. “We have transformed the property into a lan
