Ryman Hospitality Properties Inc.
(NYSE:RHP) said Monday it agreed to acquire the Grande Lakes Orlando Resort from Trinity Investments for $1.38 billion, expanding its portfolio in one of the country's largest meetings and convention markets.
Ryman shares traded lower following the announcement.
The purchase price values the property at 12.5x trailing-twelve-month adjusted EBITDA through June 30, 2026.
The 409-acre property includes a 1,010-room JW Marriott, a 582-room Ritz-Carlton, and a Greg Norman-designed 18-hole championship golf course, with Marriott International Inc.
