Ashford Hospitality Prime signs an agreement to acquire the Ritz-Carlton St. Thomas in Saint Thomas, US Virgin Islands, from Marriott International for US$64 million.
The 180-room property recently underwent a US$22 million upgrade of its guestrooms and public space, including a new desalination plant and electricity generators to allow the hotel to operate self-sufficiently.
Under a long-term management agreement with Ritz-Carlton, the property will continue to be operated as a Ritz-Carlton property.
Ritz-Carton St Thomas sold
