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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) has amended its credit agreement for its $700 million revolving credit facility and $300 million Term Loan A facility. The amendment extends a waiver of financial covenants until April 1, 2022, while allowing continued access to undrawn credit. While the temporary waiver is in effect, increased interest rates will apply, and restrictions on incurring additional debt and paying dividends will be implemented. The company aims to improve liquidity as it recovers from COVID-19.
Ryman Hospitality Properties (NYSE: RHP) reported third quarter 2020 results, showing a drastic revenue decline of 81.5% to $70.2 million compared to $379.8 million in Q3 2019. The net loss available to common shareholders widened to $117.7 million, resulting in a loss per diluted share of $2.14. Despite challenges, advanced room bookings were approximately 669,000, with 24% unrelated to rebookings. Average monthly cash burn decreased to $22.7 million, indicating improved liquidity with about 30 months of funds remaining. The Entertainment segment showed signs of recovery, signaling potential future growth.
Ryman Hospitality Properties, Inc. (NYSE: RHP) announced it will release its third quarter 2020 earnings results on November 3, 2020, prior to market opening. Management will host a conference call at 10:00 a.m. ET to discuss the results. The call can be accessed at 973-935-8756 with conference ID 5678843 and will be available for replay until December 3, 2020. Ryman specializes in group-oriented, destination hotel assets, operating notable properties under the Gaylord Hotels brand.
On September 24, 2020, Ryman Hospitality Properties (NYSE: RHP) announced Nashville's Phase 3 reopening plan, effective October 1, permitting group events of up to 500 attendees with health department approval. CEO Colin Reed expressed optimism about the expanded capacities enabling more conventions at Gaylord Opryland. The Gaylord Hotels can now accommodate various group sizes, reflecting a growing demand for in-person events.
This reopening aligns with the Grand Ole Opry's 95th anniversary celebration, planning to host 500 attendees for performances, marking a significant step in recovery for the hospitality sector.
Ryman Hospitality Properties (NYSE: RHP) presented a business update ahead of upcoming investor conferences, including the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum and the Bank of America Global Real Estate Conference. The company will feature key executives in virtual presentations to engage with investors. Ryman specializes in upscale convention center resorts and entertainment, operating under the Gaylord Hotels brand. The company emphasizes its commitment to navigating the impacts of COVID-19 on the hospitality industry.
NASHVILLE, Tenn., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties (NYSE: RHP) announced its participation in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on September 14, at 2:10 p.m. ET. The event will feature Colin Reed, CEO, in an analyst-led fireside chat, along with Mark Fioravanti and Todd Siefert. The presentation will be webcast live and available for replay on the company's website within 24 hours, accessible for 30 days.
Ryman Hospitality Properties, Inc. (NYSE: RHP) will announce its second quarter 2020 earnings on August 4, 2020, before market opening. A conference call for discussion will occur at 10:00 a.m. ET, with access available by phone or via webcast on the company's Investor Relations website. RHP specializes in destination hotel assets and owns several major convention center resorts under the Gaylord Hotels brand. The company has faced challenges due to COVID-19, which may impact results, demand, and operations.
Ryman Hospitality Properties, Inc. (NYSE: RHP) announced the re-opening of its Gaylord Hotels with enhanced safety measures. Gaylord Texan achieved 20% occupancy in its first 15 days, with an average daily rate of $190. The company has rebooked about 457,000 group room nights, translating to $208 million in revenue. Despite the positive initial response, uncertainties remain regarding group demand, particularly affecting Gaylord National's reopening. The company is confident in its liquidity to navigate ongoing challenges presented by COVID-19.
Ryman Hospitality Properties (NYSE: RHP) provided a business update ahead of the 2020 REITweek Virtual Investor Conference and the Gabelli Entertainment & Broadcasting Conference. Notable participants include CEO Colin Reed and CFO Mark Fioravanti. Both moderated discussions will be webcast; the presentations are scheduled for June 3 and June 4, at 10:10 a.m. ET and 9:30 a.m. ET, respectively. Ryman specializes in upscale convention center resorts and country music entertainment, holding networks of top hotels and attractions across the U.S., notably the Gaylord Hotels brand, managed by Marriott International.
On May 22, 2020, Ryman Hospitality Properties (NYSE: RHP) announced the termination of its agreement to purchase the Block 21 mixed-use development in Austin, Texas. CEO Colin Reed stated that the decision was made in light of the current economic environment due to the COVID-19 pandemic, which prompted the company to prioritize shareholder interests. Consequently, RHP will forfeit a nonrefundable deposit of $15 million paid to Stratus Properties as part of the agreement made in December 2019.
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