Ryman Hospitality Properties (RHP) said late Monday it has agreed to purchase JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix for $865 million.
The lodging and hospitality real estate investment trust said it intends for Marriott International (MAR) to continue managing the resort under the JW Marriott brand.
The company expects its acquisition of the JW Marriott Desert Ridge to be accretive to adjusted funds from operations per fully diluted share in 2026, with the transaction expected to close in the Q2 or Q3 this year, subject to customary conditions.
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