In Brief: Ryman Hospitality Properties has acquired the Grande Lakes Orlando Resort for $1.38 billion, signaling continued large-scale investment in high-profile resort assets and further expanding the company’s portfolio in the luxury hospitality sector.
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Grande Lakes Orlando Resort – Image Credit Marriott International
Global law firm Greenberg Traurig, LLP represented Ryman Hospitality Properties, Inc. (NYSE: RHP) (Ryman), a lodging real estate investment trust (REIT), in its acquisition of the fee simple interest in Grande Lakes Orlando Resort for approximately $1.38 billion. The transaction closed Sept. 1.
Grande Lakes Orlando is a 409-acre luxury resort complex in Orlando, Florida, featuring a 1,010-room JW Marriott, a 582-room Ritz-Carlton, a Greg Norman-designed 18-hole championship golf course, and approximately 320,000 square feet of meeting and event space.
Grande Lakes will continue to operate under the JW Marriott and Ritz-Carlton brands managed by Marriott International, according to Ryman’s statement.
“It has been a privilege to support Ryman on another important milestone for the company,” Greenberg Traurig Hospitality Practice Co-Chair Samantha Ahuja said. “Grande Lakes Orlando is a premier destination, and this acquisition reflects Ryman’s continued focus on high-quality hospitality and meeting experiences.”
In addition to Ahuja, the Greenberg Traurig deal team was led by Washington, D.C., Shareholder and Hospitality Practice Co-Chair Nelson F. Migdal, New York Real Estate Shareholder Josh Farrell, and Dallas Real Estate Of Counsel Callie Anne White.