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Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading real estate investment trust specializing in upscale convention center resorts and country music entertainment experiences. The company's core assets include the Gaylord Opryland Resort & Convention Center, Gaylord Palms Resort & Convention Center, Gaylord Texan Resort & Convention Center, Gaylord National Resort & Convention Center, and Gaylord Rockies Resort & Convention Center. These properties are among the largest non-gaming convention center hotels in the United States, featuring extensive meeting spaces and luxurious accommodations.
Ryman Hospitality Properties operates through three main segments: Hospitality, which includes Gaylord Hotels properties, the Inn at Opryland, and the AC Hotel; Entertainment, encompassing entities like the Grand Ole Opry, Ryman Auditorium, WSM-AM, and the Circle media network; and Corporate and Other, which covers corporate expenses.
The company's Hospitality segment, managed by Marriott International, comprises a portfolio with over 11,414 rooms and more than 3 million square feet of indoor and outdoor meeting space, perfectly suited for both business and leisure travelers. In addition to its renowned resorts, Ryman Hospitality Properties holds a controlling interest in the Opry Entertainment Group, which includes iconic brands such as the Grand Ole Opry and the Ryman Auditorium.
Recent developments include the company's participation in a conference call on May 9, 2024, to discuss financial results and other updates. For those interested, the call will be available for replay and can be accessed online at Ryman Hospitality Properties' Investor Relations website.
For career opportunities, interested individuals can visit rymanhp.com/careers for positions within Ryman Hospitality Properties, the Grand Ole Opry, WSM, and the Ryman Auditorium. Opportunities at Gaylord Hotels nationwide can be found on the Marriott International and Gaylord Hotels LinkedIn pages.
Ryman Hospitality Properties (RHP) reported record Q4 2024 results with consolidated revenue of $647.6 million, including record Hospitality revenue of $549.5 million and Entertainment revenue of $98.2 million. The company generated net income of $72.3 million and consolidated Adjusted EBITDAre of $188.6 million.
For full-year 2024, RHP achieved record consolidated revenue of $2.3 billion, with net income of $280.2 million and consolidated Adjusted EBITDAre of $757.7 million. The company booked over 2.9 million same-store Gross Definite Room Nights at a record ADR of approximately $282.
However, Q4 results fell below expectations due to softness in holiday leisure demand, particularly at Gaylord Texan and Gaylord Opryland. The company declared a Q1 2025 dividend of $1.15 per share, payable April 15, 2025, and plans minimum dividends of $4.60 per share for 2025.
Ryman Hospitality Properties (NYSE: RHP) has disclosed the tax classification of its 2024 shareholder dividend distributions. The company distributed quarterly dividends of $1.10 per share for the first three quarters and $1.15 for the fourth quarter, totaling $4.45 per share for 2024.
Of the total distribution, $4.351352 is taxable in 2024, with $4.284351 classified as ordinary non-qualifying dividends and $0.067001 as long-term capital gains. The entire amount qualifies as Section 199A dividends, with no return of capital distributions. A portion of the fourth quarter dividend ($0.098648) will be taxable in 2025.
W Hotels and Opry Entertainment Group announce the completion of a multi-million-dollar transformation of W Austin. The renovation includes fully redesigned 251 guest rooms (including 32 suites), a new restaurant concept called Serenade American Brasserie, 2nd & Roast coffee shop, Blue Room cocktail bar, and a reimagined Living Room.
The hotel's transformation emphasizes Austin's musical heritage and natural beauty, featuring concert photography by Scott Newton and design elements inspired by Lady Bird Lake. The Living Room showcases a gold bar inspired by trumpet lines and serves as a venue for local musical performances. Guest rooms include premium amenities like Marshall Bluetooth speakers, Nespresso machines, and Davines bath products.
The property includes Penthouse I, downtown Austin's largest suite, offering panoramic views and luxury amenities. The new Serenade American Brasserie, led by Chef Johnny Ray Stinebaugh, combines Texan flavors with classic brasserie techniques, while the Blue Room offers a reservation-only cocktail experience.
Ryman Hospitality Properties (NYSE: RHP) announced a $131 million expansion at its flagship Gaylord Opryland Resort & Convention Center in Nashville. The project will add approximately 108,000 square feet of premium, carpeted meeting space, including a 31,000-square-foot ballroom, 38,000 square feet of breakout space, and 39,000 square feet of pre-function space.
The expansion, set to complete by Spring 2027, will increase Gaylord Opryland's total exhibit and meeting space to approximately 756,000 square feet, maintaining its position as the largest non-gaming hotel by exhibit and meeting space in the United States. This project is part of a larger transformation plan that includes: a $17 million Governor's ballroom renovation, a $36 million Presidential ballroom renovation, and a $40 million new sports bar development with event spaces.
Ryman Hospitality Properties (NYSE: RHP) subsidiary Opry Entertainment Group (OEG) has acquired a majority stake in Southern Entertainment, a Charlotte-based live events and production company. Southern Entertainment's portfolio includes major country music festivals such as Carolina Country Music Fest, Barefoot Country Music Fest, and several others across multiple states.
Southern Entertainment, founded in 2015 by Bob Durkin and Rob Pedlow, will integrate OEG's artist development programs into their flagship festivals. The co-founders will continue leading the business post-acquisition. The partnership aims to expand festival reach and create new artist-centered experiences.
The acquisition strengthens OEG's position in live events and provides access to a complementary fan base. Southern Entertainment's financial results will be consolidated within Ryman's Entertainment segment.
Ryman Hospitality Properties (NYSE:RHP) has rescheduled its fourth quarter 2024 earnings conference call to 11:00 a.m. ET on Friday, February 21, 2025, one hour later than previously announced. The company will release its Q4 2024 earnings results after market close on Thursday, February 20, 2025. Investors can participate in the conference call by dialing 800-445-7795 using conference ID: RHPQ424. A replay will be available through February 28, 2025, by dialing 800-723-1517. The call will also be webcast on the company's investor relations website.
Ryman Hospitality Properties (NYSE: RHP), a lodging and hospitality REIT focused on upscale convention center resorts and entertainment experiences, has scheduled its Q4 2024 earnings release for Thursday, February 20, 2025, after market close. The company will host a conference call to discuss results on Friday, February 21, 2025, at 10:00 a.m. ET. Investors can participate by dialing 800-445-7795 using conference ID: RHPQ424. A replay will be available through February 28, 2025, via 800-723-1517. The call will also be webcast on the company's investor relations website.
Ryman Hospitality Properties (RHP) reported record Q3 2024 results with net income of $60.4 million and consolidated revenue of $550.0 million. The company achieved record third quarter same-store Hospitality operating income of $92.8 million and Adjusted EBITDAre of $142.0 million. During Q3, RHP booked over 581,000 same-store room nights at an ADR of $282, up 5.2% YoY. However, the company revised its 2024 guidance lower due to leisure transient softness in Nashville and Orlando, Hurricane Milton disruption, and capital investment projects. The quarterly dividend was increased by 4.5% to $1.15 per share.
Ryman Hospitality Properties, Inc. (NYSE: RHP), a prominent lodging and hospitality real estate investment trust, has released an updated investor presentation prior to its participation in the Bank of America Securities 2024 Global Real Estate Conference. The company, which specializes in upscale convention center resorts and entertainment experiences, has made the presentation available on the Investor Relations section of its website under Events & Presentations. This update provides investors with the latest information about Ryman's business strategy, performance, and outlook ahead of the significant industry event.
Ryman Hospitality Properties (NYSE: RHP), a leading lodging and hospitality REIT specializing in upscale convention center resorts and entertainment experiences, has announced its third quarter 2024 earnings conference call. The call is scheduled for Tuesday, November 5, 2024, at 11:00 a.m. ET. The company will release its Q3 2024 earnings results after market close on Monday, November 4, 2024.
To participate in the conference call, investors can dial 800-267-6316 using conference ID: RHPQ324. A replay will be available through November 12, 2024, by dialing 800-839-5685. The call will also be webcast on Ryman Hospitality Properties' Investor Relations website at http://ir.rymanhp.com.
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