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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 (NYSE: RHP) reported significant financial declines for Q4 and full year 2020, with total revenue dropping 71.7% year-over-year to $126.5 million. The company faced an operating loss of $64.7 million in Q4, a stark contrast to a profit in the same period in 2019. Average monthly cash burn reduced to $12 million, and 1.34 million room nights were rebooked. A $600 million private placement of senior notes due 2029 at 4.5% interest was completed, helping to alleviate financial pressures. The company remains hopeful about recovery as vaccination efforts progress.
Ryman Hospitality Properties (NYSE: RHP) will present virtually at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 12, 2021, at 11:45 a.m. ET. Mark Fioravanti, the president and CFO, will participate in an analyst-led fireside chat. Investors can access the live webcast on the company's website, with a replay available for 30 days post-event. Ryman Hospitality specializes in group-oriented destination hotels, operating five of the top non-gaming convention center hotels in the U.S. under the Gaylord Hotels brand.
Ryman Hospitality Properties (NYSE: RHP) announced its participation in the 2021 Citi Virtual Global Property CEO Conference on March 8 at 10:30 a.m. ET. Colin Reed, CEO, will join a roundtable presentation led by a Citi research analyst. Investors can access the live webcast on Ryman's website, with a replay available for one year. The company is a leader in lodging REITs, specializing in group-oriented hotels and country music entertainment experiences, managing significant properties, including Gaylord Hotels and a network of entertainment brands.
Ryman Hospitality Properties (NYSE: RHP) announced the completion of a private placement of $600 million in 4.500% senior notes due 2029. The net proceeds are estimated at $591 million after discounts and commissions. These notes are guaranteed by the company and its subsidiaries. Additionally, the company reported the results of its cash tender offer for 2023 Notes, with approximately 40.49% validly tendered. Funds from the notes will be used for redeeming 2023 Notes, repaying revolving credit, and general corporate purposes.
The Fourth Annual Allman Family Revival is set to celebrate Gregg Allman's birthday with a live concert and global livestream from Ryman Auditorium in Nashville. The event on February 10, 2021, will feature Allman's son, Devon Allman, along with performances from renowned acts like the Allman Betts Band and Jimmy Hall. Although in-venue tickets are sold out, virtual tickets are available for $15, allowing fans worldwide to enjoy the show live or on-demand for 24 hours. The venue prioritizes safety with social distancing and enhanced cleaning protocols.
Ryman Hospitality Properties announced the upsizing and pricing of a private placement of $600 million in 4.500% senior notes due 2029, increased from the previously planned $400 million. The notes will close on February 17, 2021, with net proceeds estimated at $591 million. Proceeds will primarily fund a tender offer for $400 million of 2023 Notes and repay senior secured credit facility borrowings. The offering is intended for institutional buyers under Rule 144A of the Securities Act.
Ryman Hospitality Properties (NYSE: RHP) has initiated a cash tender offer for its outstanding 5.00% senior notes due 2023, totaling $400 million. The offer, which runs until February 16, 2021, allows noteholders to receive $1,005 for each $1,000 note tendered, plus accrued interest. The tender is contingent on a successful offering of new senior unsecured notes to generate at least $400 million. The company plans to redeem any remaining notes at 100% of their principal after the offer's expiration.
Ryman Hospitality Properties (NYSE: RHP) announced a private placement offering of up to $400 million in senior notes due 2029. The notes will be unsecured obligations guaranteed by the Company. Proceeds will fund a cash tender offer for all of the existing $400 million 2023 Notes and cover associated costs, with remaining funds used for general corporate purposes. The offering is meant for qualified institutional buyers and will not be registered under the Securities Act. There are risks involved, and completion of the offering is not guaranteed.
Ryman Hospitality Properties (NYSE:RHP) will present at the Virtual Raymond James 42nd Annual Institutional Investors Conference on March 1 at 3:50 p.m. ET. Mark Fioravanti, president and CFO, will engage in an analyst-led fireside chat. Investors can access the presentation through the company's website and a replay will be available within 48 hours for one year. Ryman specializes in group-oriented, destination hotel assets and operates under the Gaylord Hotels brand, featuring five of the largest non-gaming convention center hotels in the U.S.
Ryman Hospitality Properties (NYSE: RHP) provided a business update emphasizing its real estate investment trust status specializing in upscale convention center resorts and country music entertainment. With a portfolio that includes five of the largest non-gaming convention center hotels in the U.S. and a growing collection of country music brands, the company's assets total over 10,110 rooms and 2.7 million square feet of meeting space. Key locations include Gaylord Opryland and Gaylord Palms resorts, operated under Marriott International.
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