Ryman Hospitality acquires Grande Lakes Orlando Resort for $1.38bn

Ryman Hospitality has agreed to acquire Grande Lakes Orlando Resort for $1.38bn
The deal is the largest recorded non-gaming resort transaction in United States history
The 409-acre complex includes JW Marriott Orlando, Ritz-Carlton Orlando and a Greg Norman golf course
Ryman is funding the acquisition through shares, cash and credit facilities
Marriott International will continue to operate both hotels and the deal is expected to finalise in Q3 2026

Ryman Hospitality Properties has officially agreed to acquire the Grande Lakes Orlando Resort in Florida from Trinity Investments for $1.38bn. Announced on August 10, 2026, the blockbuster deal stands as the largest recorded non-gaming resort transaction in United States history.

The expansive 409-acre luxury complex includes the 1,010-room JW Marriott Orlando, the 582-room Ritz-Carlton Orlando, an 18-hole championship golf course designed by Greg Norman, and roughly 320,000 square feet of meeting and convention space. Previous owners have invested over $150m into guestrooms, public areas and a waterpark since 2018. The purchase price values the resort at a 12.5x multiple of its trailing twelve-month Adjusted EBITDAre of $110m through mid-2026.

Ryman is funding the acquisition through an underwritten public offering of 5.1m common shares, cash on hand, and existing revolving credit lines or property debt assumptions. Marriott International will continue to operate both hotels under their existing legacy brands. The transaction is on track to finalise during the third quarter of 2026, subject to standard closing conditions. The deal expands Ryman’s portfolio into the Orlando luxury market and adds a significant convention and leisure destination to its holdings.

Ryman Hospitality shared in a written statement “the purchase price values the resort complex at a 12.5x multiple of its trailing twelve-month Adjusted EBITDAre through mid-2026.”