Ryman Hospitality Properties Acquires Grande Lakes Orlando Resort for $1.38 Billion
Ryman Hospitality Properties (RHP) has acquired the fee simple interest in Grande Lakes Orlando Resort for $1.38 billion. The company previously leased the property.
Lodging real estate investment trust Ryman Hospitality Properties (RHP) has completed its acquisition of the fee simple interest in Grande Lakes Orlando Resort for $1.38 billion. The transaction was finalized today. Ryman had previously been a tenant of the resort.
The acquisition of the land and buildings transfers full control of the hotel property to Ryman. Grande Lakes Orlando Resort, located in Orlando, Florida, includes two hotels: JW Marriott Orlando Grande Lakes and The Ritz-Carlton Orlando Grande Lakes, along with a golf course and other amenities.
Ryman stated that the acquisition strengthens its position as a significant owner and operator of lodging properties in the United States. The company anticipates the transaction will substantially enhance its cash flow and strategic standing.