Ryman to buy Grande Lakes resort for $1.38 billion

• Ryman Hospitality Properties agreed to acquire the Grande Lakes Orlando Resort for $1.38 billion.
• The property includes two luxury hotels with 1,592 rooms and approximately 320,000 square feet of meeting and event space.
• Ryman said the acquisition is expected to increase adjusted funds from operations per diluted share in 2027 after closing.

Ryman Hospitality Properties (NYSE:RHP) signed a definitive agreement to acquire the fee simple interest in the Grande Lakes Orlando Resort from Trinity Investments for $1.38 billion.

The 409-acre property includes the 1,010-room JW Marriott, the 582-room Ritz-Carlton and a Greg Norman-designed 18-hole golf course, with Marriott International continuing to operate both hotels under their existing brands.

The purchase price represents a 12.5x adjusted EBITDAre multiple based on trailing 12-month results through June 30, 2026, when the resort generated Adjusted EBITDAre of $110.0 million.

The resort features 1,592 guest rooms and approximately 320,000 square feet of meeting and event space and has benefited from about $150 million in recent capital investments.

Ryman said the acquisition is expected to be accretive to adjusted funds from operations per diluted share in 2027, according to the company.

The transaction is expected to close during the third quarter of 2026, subject to customary closing conditions.