Trinity Investments has agreed to sell the 409-acre Grande Lakes Orlando Resort to Ryman Hospitality Properties, Inc. for $1.38 billion, capping an eight-year ownership period marked by extensive renovations and a repositioning of one of Central Florida’s largest luxury hospitality properties.
Trinity acquired the resort for $870 million in December 2018 with financial backing from Elliott Investment Management. The agreed sale price is $510 million, or about 59%, above the original acquisition price, before accounting for renovation costs, financing expenses and transaction fees.
The deal values the resort at approximately $867,000 per hotel room, although the transaction also includes substantial meeting, dining, spa, golf and land assets. Trinity described it as the largest non-gaming resort transaction recorded in the United States.
Grande Lakes Orlando is anchored by the 582-room Ritz-Carlton Orlando, Grande Lakes and the 1,010-room JW Marriott Orlando, Grande Lakes. Together, the hotels provide 1,592 rooms and 320,000 square feet of indoor and outdoor meeting space, giving the property a sizable position in Orlando’s convention, group-travel and luxury-leisure markets.
The complex also includes 14 food-and-beverage outlets, a 40,000-square-foot spa with 40 treatment rooms and an 18-hole championship golf course designed by Greg Norman. The course hosts the PGA Tour’s PNC Championship.
During its ownership, Trinity completed a resort-wide renovation and repositioning program intended to improve the guest experience and operating performance. The investment period included the COVID-19 pandemic, which created an unusually difficult operating environment for large resorts dependent on corporate meetings, conventions and destination travel.
The Ritz-Carlton property received a MICHELIN Key in 2024 as part of the MICHELIN Guide’s inaugural hotel-rating program, providing third-party recognition of the resort’s upgraded luxury offering.
“Grande Lakes Orlando joins a growing list of resorts where our team has driven significant operational improvement and created lasting value for our investors and partners,” Managing Partner, President and CEO Sean Hehir said.
The sale extends an active period of portfolio recycling for Trinity. Upon closing, it will be the firm’s third disposition in 15 months, following the June 2025 sale of JW Marriott Phoenix Desert Ridge Resort & Spa to Ryman Hospitality Properties and the September 2025 sale of EAST Miami to Blackstone Real Estate. Elliott also provided financial backing for the Phoenix transaction.
Trinity has continued acquiring resort assets while completing those dispositions. In May 2026, the firm purchased the JW Marriott Marco Island Beach Resort, maintaining its exposure to Florida’s destination-hospitality market even as it exits Grande Lakes Orlando.
The Orlando transaction is expected to close during the third quarter of 2026, subject to customary closing conditions. Additional terms were not disclosed, and completion remains contingent on those requirements being satisfied.
Headquartered in Miami, Trinity operates additional offices in Los Angeles, London and Honolulu. The hospitality investment platform has a 30-year history of acquiring, repositioning and operating lodging properties and has deployed more than $10 billion across the United States, Mexico, Europe and Japan.