Ryman Hospitality Properties Acquires JW Marriott Phoenix Desert Ridge From Sean Hehir For $865M

The property asset involved in this transaction is a hotel located at 5350 East Marriott Drive in Phoenix, AZ. The deal was finalized for a total sale price of $865,000,000, with 950 keys, resulting in a price per key of $910,526. The property underwent a $100 million renovation prior to the sale.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $865,000,000
• Buyer: Ryman Hospitality Properties
• Seller: Sean Hehir - Trinity Investments
• Keys: 950
• Price Per Key: $910,526

The buyer, Ryman Hospitality Properties, plans to maintain the JW Marriott branding for the property and explore potential value-add opportunities post-acquisition. The seller, Sean Hehir of Trinity Investments, successfully concluded the sale of the JW Marriott Phoenix Desert Ridge following significant renovations.