Trinity Investments (“Trinity”) sold 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.

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, making seven food and beverage offerings. The resort also has two championship golf courses.

Trinity’s Sean Hehir added, “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. ” 

The resort will continue to operate under Marriott International’s JW Marriott flag, though Ryman plans to pursue near- and long-term “value creation opportunities”. The acquisition follows Ryman’s $800 million purchase of JW Marriott San Antonio Hill Country Resort & Spa in San Antonio, Texas, in 2023.