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Ryman Buys $86M Stake in Gaylord Rockies
Ryman Hospitality Properties Inc. has acquired 35% equity ownership in the Aurora, CO-based Gaylord Rockies Resort and Convention Center. The Nashville, TN-based Ryman is investing $86 million.
The property on 67th Street is currently under construction, with completion anticipated for late 2018. RIDA Development Corp. and Ares Management LP are leading the owner and development partnership. Marriott International, Inc. will manage the hotel and convention center.
RIDA and Ares closed a $500 million loan in December 2015 to begin construction on the 1,500-room resort. Also on the property will be more than 485,000 square feet of meeting space, a $25 million waterpark and eight food and beverage outlets.
- ◦Financing
- ◦Development
