The Ritz-Carlton St. Thomas has been acquired by Ashford Hospitality Prime from Marriott International for $64 million. The resort at 6900 Great Bay in St. Thomas will continue to operate under the Ritz-Carlton flag through a long-term management agreement. Trading for just over $355,555 per key, the property features 30 acres of oceanfront with 180 rooms and four restaurants. Built in 1992, the hotel underwent an extensive $22.2 million renovation which was completed in January 2014. CBRE Hotels’ Christian Charre, Paul Weimer and Natalie Castillo marketed the property on behalf of the seller Marriott International.
“Ashford acquired a jewel on the island of St. Thomas,” said Charre, Senior Vice President, CBRE Hotels. “This fully renovated property is one of the best performing assets in the Caribbean…The sale generated strong interest resulting in a mutually beneficial transaction and an attractive long-term management agreement for Marriott.”
