rida development corporation
Hyatt Completes Sale of Hyatt Regency Orlando for $1.07 Billion
Hyatt Hotels Corporation | August 19, 2024
CHICAGO (August 19, 2024) – Hyatt Hotels Corporation (NYSE:H) today announced that an affiliate of Hyatt has completed the sale of the 1,641-room Hyatt Regency Orlando and adjacent 45 acres of land to affiliates of RIDA Development Corporation and an Ares Management Real Estate fund (“Ares”) for approximately $1.07 billion, while retaining a long-term management agreement under the Hyatt Regency brand. In connection with the transaction, Hyatt retained $265 million of non-controlling preferred equity and provided an additional $50 million of seller financing for the adjacent 45-acre parcel. The sale of Hyatt Regency Orlando is...
Marriott, RIDA Development, and Ares Management Break Ground on Gaylord Pacific Resort and Convention Center
Marriott International, Inc. | July 28, 2022
Marriott International, Inc. today announced the commencement of construction on the Gaylord Pacific Resort and Convention Center (the “Gaylord Pacific”). A ceremony was held this morning on the 500+ acre Chula Vista Bayfront, site of the anticipated 1.8 million-square-foot Gaylord Pacific. The event was attended by the Gaylord Pacific’s developers RIDA Development Corporation (“RIDA Development”) and Ares Management (“Ares”), finance partners, officials from the City of Chula Vista, Port of San Diego, and State of California, Marriott executives, group customers, and other project supporters. “We are thrilled to announce t...
Ares Real Estate Sells Its Stake in Gaylord Rockies Resort & Convention Center for $270 Million
Ares Management, L.P. | September 17, 2018
LOS ANGELES—September 17, 2018--Ares Management, L.P. (NYSE: ARES) announced today that funds managed by its Real Estate Group have agreed to the sale of its investment in the Gaylord Rockies Resort & Convention Center, a 1,500-room hotel and convention center under construction in Aurora, Colorado. As part of the transaction, Ryman Hospitality Properties, Inc. (NYSE: RHP) and RIDA Development Corporation, Ares' other partners in the development's joint venture, will pay a combined total of approximately $270 million to acquire Ares' investment. The transaction is subject to customary closing conditions, including joint ventur...
RIDA Development Corporation on Track to Complete Marriott Marquis Houston by October 2016
the Marriott Marquis Houston | November 23, 2015
Houston, TX—November 19, 2015—The Marriott Marquis Houston, the city's newest hotel, today announced that it is on track to open 11 months from now as planned on October 1, 2016, adding 1,000 new guest rooms, over 100,000 square feet of meeting space, and Houston's largest ballroom to the city. With a sleek and bold design, the Marriott Marquis Houston brings the city to the forefront of top-tier leisure and meetings destinations in the country, catalyzing the reawakening of Houston's urban district and attracting discerning, cultured travelers in search of a unique experience. A one-of-a-kind Texas-shaped lazy river, ro...
