US lodging real estate investment trust Ryman Hospitality Properties is acquiring the Grande Lakes Orlando Resort from Trinity Investments for $1.38bn (€1.2bn).
Trinity Investments, which acquired the resort for $870m in December 2018 alongside financial partner Elliott Investment Management, said the sale of the 409-acre luxury complex represents the largest non-gaming US resort transaction on record.
The hospitality-focused real estate investor added that the sale highlights its “expertise in large-scale resort repositioning and strategic asset management”.
The Grande Lakes Orlando Resort, which features 320,000sqft of indoor and outdoor meeting space as well as an 18-hole championship golf course, is anchored by a 582-key Ritz-Carlton and a 1,010-key JW Marriott.
Sean Hehir, managing partner, president and CEO of Trinity Investments, said: “This transaction is a testament to Trinity’s ability to identify complex, large-scale opportunities and execute on a value-add plan that meaningfully repositions the asset.
“Grande Lakes Orlando joins a growing list of resorts where our team has driven significant operational improvement and created lasting value for our investors and partners. We’re immensely proud of what our team has accomplished and excited to see the resort’s next chapter.”
The deal follows recent US hospitality exits for Trinity Investments, including the $865m sale of the JW Marriott Phoenix Desert Ridge Resort & Spa to Ryman Hospitality Properties in May 2025 and the subsequent sale of the 352-room EAST Miami hotel to Blackstone in September 2025.
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