Overview
- Ryman announced Monday that it has signed a definitive agreement to buy the 409-acre Grande Lakes Orlando Resort from Trinity Investments for $1.38 billion.
- The property includes a 1,010-room JW Marriott, a 582-room Ritz‑Carlton, about 320,000 square feet of meeting space, and an 18‑hole Greg Norman golf course.
- Ryman said the price implies a 12.5x adjusted EBITDAre multiple and that the acquisition is expected to be accretive to adjusted funds from operations per diluted share in 2027 if the transaction closes.
- Marriott International will continue to operate both hotels under the JW Marriott and Ritz‑Carlton brands and the deal is subject to customary closing conditions and approvals with a planned Q3 2026 close.
- Trinity, backed by Elliott, bought the resort in 2018 for $870 million and invested roughly $150 million in upgrades before selling; if completed, this would be the largest non‑gaming U.S. resort sale on record and could deepen Ryman’s meeting-market reach in Orlando.