Phoenix, October 14, 2025
News Summary
Ryman Hospitality Properties has announced its agreement to acquire the JW Marriott Phoenix Desert Ridge Resort & Spa for $865 million. This marks Ryman’s first investment in the Southwest region, as the resort features 950 rooms and has undergone significant renovations totaling $100 million. The transaction is expected to close between the second and third quarters of 2025, further enhancing Ryman’s portfolio of upscale convention center resorts and entertainment experiences.
Phoenix
Ryman Hospitality Properties, a Nashville-based real estate investment trust (REIT), has announced an agreement to acquire the JW Marriott Phoenix Desert Ridge Resort & Spa for $865 million. This acquisition is significant as it will be Ryman’s first property in the Southwest region.
The JW Marriott Desert Ridge is the largest resort in Phoenix, featuring 950 rooms. Ryman has been pursuing this asset for several years, drawn to its potential as a marquee group-focused destination. This latest transaction marks one of the largest hotel deals of 2025.
Previously, Trinity Investments acquired the resort in 2019 for $602 million. During their ownership, approximately $100 million was invested into renovations, which included upgrades to guest rooms and the lobby, as well as the introduction of the AquaRidge Waterpark. This waterpark boasts three water slides, including the Gullywasher, a vertical-wall tube slide, further enhancing the guest experience.
Post-acquisition, the JW Marriott Desert Ridge will continue to operate under the JW Marriott brand. The purchase represents a 12.7x adjusted EBITDAre multiple based on projected results for 2024. The transaction is anticipated to close between the second and third quarters of 2025, subject to customary closing conditions.
Ryman expects the acquisition to benefit its financial performance, predicting it will be accretive to adjusted funds from operations per fully diluted share for 2026. The resort is located on approximately 402 acres in the Sonoran Desert of Arizona, featuring around 243,000 sq. ft. of versatile indoor and outdoor meeting and event space.
This acquisition is seen by Ryman as a natural progression following their earlier 2023 purchase of the JW Marriott Hill Country in Texas. Analysts have noted that there is no new competitive supply currently being developed in the immediate area, which may provide an advantage for the resort. However, the property is expected to experience some impact on its 2025 financial results due to ongoing renovations scheduled for completion in the third quarter of that year.
Analyst Patrick Scholes from Truist Securities has indicated that this acquisition could enhance Ryman’s geographic diversification, as it marks the company’s first investment in the Southwest region. Ryman is known for specializing in upscale convention center resorts and entertainment experiences, managing a portfolio that includes the renowned Gaylord hotels.
Key Features of JW Marriott Desert Ridge Resort
| Feature | Details |
|---|---|
| Number of Rooms | 950 |
| Renovation Investment | $100 million |
| Waterpark Features | AquaRidge Waterpark with three slides |
| Event Space | 243,000 sq. ft. of indoor and outdoor space |
| Acquisition Price | $865 million |
| Closing Timeline | Q2/Q3 of 2025 |
FAQ
What is the acquisition price of JW Marriott Phoenix Desert Ridge Resort?
$865 million
When is the anticipated closing date for the acquisition?
The acquisition is expected to close in the second or third quarter of 2025.
How many rooms does the JW Marriott Desert Ridge Resort feature?
950 rooms.
What type of investment was made in renovations before the acquisition?
Approximately $100 million was invested in renovations.
What is the AquaRidge Waterpark?
The AquaRidge Waterpark includes three water slides, including the Gullywasher, a vertical-wall tube slide.
Deeper Dive: News & Info About This Topic
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New Hotel Launch in Phoenix’s Desert Ridge Corridor
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Additional Resources
- Hotel Investment Today
- Wikipedia: JW Marriott Desert Ridge Resort
- AZCentral
- Google Search: JW Marriott Desert Ridge
- KTAR News
- Encyclopedia Britannica: JW Marriott
Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
