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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) announced a quarterly cash dividend of $0.10 per share, payable on October 17, 2022, to shareholders on record as of September 30, 2022. The new interim dividend policy sets a minimum dividend of 100% of REIT taxable income annually. Ryman reports strong demand in its hospitality business, with hotel performance surpassing 2019 levels for group room nights in August. The company's Board has reinstated the dividend, reflecting confidence in future growth.
Ryman Hospitality Properties (RHP) reported a strong Q2 2022, achieving net income of $50.3 million ($0.91/share) and a record Adjusted EBITDAre of $167.6 million, a 495.4% increase year-over-year. Revenue surged 175.2% to $470.2 million. The Hospitality segment posted operating income of $100.6 million with a 25% margin, driven by high occupancy at 72.7%. Future group bookings reached record ADR of $243, indicating robust demand. The company also raised its full-year guidance, reflecting confident market positioning despite ongoing challenges in group travel and advertising.
Ryman Hospitality Properties, Inc. (NYSE: RHP) announced it will release its Q2 2022 earnings results on August 1, 2022, after the market closes. A conference call will be held on August 2, 2022, at 10:00 a.m. ET to discuss the results. RHP specializes in upscale convention center resorts, particularly the Gaylord Hotels brand, which includes five of the largest non-gaming convention center hotels in the U.S. These hotels offer over 10,412 rooms and extensive meeting spaces. More information can be found on RHP's Investor Relations website.
Ryman Hospitality Properties (NYSE: RHP) has completed a strategic investment in its subsidiary, Opry Entertainment Group (OEG), by Atairos and NBCUniversal, valuing OEG at $1.415 billion. The partnership involves a 30% equity stake for a $296 million investment, with Atairos contributing $283 million and NBCUniversal $13 million. This transaction aims to support OEG's growth and reduce RHP's leverage, allowing for reinvestment in its hospitality business. RHP retains a 70% interest in OEG and expects to use proceeds to repay debt, enhancing financial flexibility.
Ryman Hospitality Properties has finalized its acquisition of Block 21 from Stratus Properties for approximately $260 million. This downtown Austin mixed-use complex features lodging, retail, office, and entertainment venues, including the W Austin Hotel and ACL Live at Moody Theater. The deal included assuming around $136 million in existing mortgage debt. CEO Colin Reed expressed optimism about leveraging partnerships with Atairos and NBCUniversal to enhance the site's appeal as a music destination.
Ryman Hospitality Properties (NYSE: RHP) will present to investors at the 2022 REITweek Conference in New York on June 8 at 2 p.m. ET. President Mark Fioravanti and CFO Jennifer Hutcheson will engage in discussions, alongside Senior VP Todd Siefert. The presentation will be webcast live and accessible via Ryman's investor relations website, with a replay available for 90 days. RHP specializes in upscale convention center resorts and country music experiences, operating significant venues like Gaylord Opryland and Opry Entertainment Group.
NASHVILLE, Tenn., May 23, 2022 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties (NYSE: RHP), a leading lodging and hospitality REIT, will present at the Gabelli Funds 14th Annual Broadcast & Entertainment Symposium on June 2, at 11:30 a.m. ET in New York. CEO Colin Reed and Opry Entertainment Group President Scott Bailey will join a fireside chat, with Todd Siefert from corporate finance also attending. The event will be webcasted live, with a replay available for 90 days. RHP specializes in upscale convention centers and country music experiences, operating multiple properties including Gaylord Hotels.
Ryman Hospitality Properties (RHP) reported a net loss of $(24.6) million for Q1 2022, significantly improved from the $(104.5) million loss in Q1 2021. Total revenue rose to $299.1 million, a 255.4% increase year-over-year. Occupancy rates rebounded to 63.3% in March, up from 32.8% in January. Strong average daily rate (ADR) growth was observed, reaching $229.17, a 21.0% increase from Q1 2021. The company anticipates Q2 2022 net income between $28.5 and $32.0 million and full-year 2022 net income ranging from $60.0 to $75.0 million, driven by ongoing recovery in group travel and leisure demand.
Ryman Hospitality Properties (NYSE: RHP) has announced the scheduling of its first quarter 2022 earnings release, set for May 2, 2022, after market closure. The management's conference call to discuss the results will occur at 9:00 a.m. ET on May 3, 2022, adjusted from a previously stated time of 10:00 a.m. ET. This lodging REIT specializes in group-oriented hotel assets and operates under the Gaylord Hotels brand, with properties managed by Marriott International.
Ryman Hospitality Properties (NYSE: RHP) announces a partnership with Atairos and NBCUniversal, acquiring a 30% stake in its subsidiary, Opry Entertainment Group (OEG), valued at $1.415 billion. Atairos will invest approximately $278 million, while NBCUniversal will contribute around $15 million. An additional $30 million investment is contingent on performance targets, potentially raising OEG's value to $1.515 billion. RHP will maintain a 70% ownership of OEG and expects to generate about $593 million from the deal, reducing leverage and enhancing financial flexibility.
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