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Ryman Hospitality Properties has plans to purchase JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona, for $865 million. The company plans for the resort to continue to be operated by Marriott International under the JW Marriott flag.

“The JW Marriott Desert Ridge has been one of our top acquisition targets for many years,” said Mark Fioravanti, president and CEO of the company. “Given the limited availability of marquee group-focused assets that complement our existing portfolio and group strategy, we are thrilled to acquire this resort. Considering the strength of our forward bookings, the durable nature of our group business model and our early success with the 2023 acquisition of the JW Marriott Hill Country, we believe this is the right transaction for creating long-term customer and shareholder value.