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.
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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…