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, for $865 million to Ryman Hospitality Properties, Inc..
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. Earlier this year, U.S. News & World Report ranked the JW Marriott Desert Ridge Resort & Spa as one of the best hotels in Phoenix.
“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 of Trinity. “We have transformed the property into a landmark destination for both business and leisure travelers, and are proud to be able to deliver strong returns for our investors. We look forward to the JW Marriott Phoenix Desert Ridge Resort & Spa’s future success under new ownership.”
The sale of the renovated JW Marriott Phoenix Desert Ridge Resort & Spa underscores Trinity’s deep expertise in asset management and development. Recently, the firm launched Trinity Asset Management Services and Trinity Development Services, two distinct offerings that provide third-party hotel owners and lenders with direct access to Trinity’s operational expertise and development capabilities.
The sale is set to close in the second or third quarter of 2025. Terms of the transaction are not being disclosed.
