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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) 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.
Ryman Hospitality Properties, Inc. (NYSE: RHP) will announce its first quarter 2022 earnings after market close on May 2, 2022. A conference call to discuss the results is scheduled for May 3, 2022, at 10:00 a.m. ET. The company, known for its group-oriented, destination hotel assets, operates five major convention center hotels under the Gaylord Hotels brand. These venues, managed by Marriott International, highlight RHP's leadership in the hospitality sector.
The closing of Ryman Hospitality Properties' acquisition of Block 21 from Stratus Properties has been postponed to before June 1, 2022, due to pending approvals related to the property's existing mortgage loan. This mixed-use development in Austin includes the W Austin Hotel and entertainment space, and the sale is contingent upon several conditions, including consent from the loan servicers and hotel operators, and the absence of material adverse effects. The acquisition remains significant for Ryman's portfolio in upscale hospitality.
Ryman Hospitality Properties (NYSE: RHP) announced its Q4 2021 financial results, showcasing a net loss of $(6.0) million, a 30% improvement from Q3 2021. Q4 consolidated Adjusted EBITDAre stood at $85.6 million driven by robust leisure occupancy, despite group cancellations due to COVID-19 variants. The Hospitality segment reported a 53% occupancy rate and strong ADR of $246.96, up 17.7% YoY. Full-year revenue rose to $939.4 million, a 79% increase, while operating loss decreased significantly. The company is set to acquire Block 21 by Q1 2022, enhancing its growth potential.
Ryman Hospitality Properties (NYSE: RHP) announced its presentation at the 2022 Citi Global Property CEO Conference on March 7 at 9 a.m. ET. Colin Reed, CEO, will engage in a roundtable discussion led by a Citi research analyst. The presentation will be available via webcast on the company's website, with a replay accessible for one year post-event. Ryman specializes in group-oriented destination hotels, managing five of the top 10 largest non-gaming convention center hotels across the U.S., totaling over 10,400 rooms and 2.7 million square feet of meeting space.
Ryman Hospitality Properties (NYSE: RHP) will present at the Raymond James & Associates’ 43rd Annual Institutional Investors Conference on March 7, 2022, at 4 p.m. ET. President & CFO Mark Fioravanti will discuss the company's financial performance and business strategy. The presentation will be available via webcast on Ryman's website, with a replay accessible for 30 days post-event. Ryman specializes in upscale lodging and entertainment, featuring a network of major convention resorts and iconic brands like the Grand Ole Opry.
Ryman Hospitality Properties (NYSE: RHP) has announced an extension of the closing date for its acquisition of Block 21 in Austin, Texas. The delay is due to the ongoing process of obtaining consent for the assumption of the property’s existing mortgage loan. The acquisition is now expected to close in Q1 2022, pending various conditions including lender and operator approvals. RHP focuses on upscale lodging and entertainment venues, managing notable properties like Gaylord resorts and the Grand Ole Opry.
Ryman Hospitality Properties (NYSE: RHP) announced that it will release its fourth quarter 2021 earnings results after market close on February 24, 2022. A conference call to discuss the results is scheduled for 10:00 a.m. ET on February 25, 2022. The call will be accessible via phone and webcast on their Investor Relations website. Ryman focuses on upscale convention center resorts and operates under the Gaylord Hotels brand, managing a total of 10,412 rooms across key leisure destinations.
Opry Entertainment Group (OEG) has partnered with AXS, a leading ticketing provider, to enhance ticketing operations across OEG venues. This collaboration will streamline ticket purchasing for fans and improve access to events at iconic locations like the Grand Ole Opry and Ryman Auditorium. AXS will integrate its services, including AXS Mobile ID, allowing fans to manage their tickets securely. The partnership is expected to foster creative opportunities involving AEG and bolster OEG's operations.
Ryman Hospitality Properties (NYSE: RHP) reported a significant turnaround in Q3 2021, posting a net loss of $(8.6) million compared to $(63.0) million in the previous quarter, driven by a 79.6% revenue increase to $306.9 million. Adjusted EBITDAre reached $86.0 million with a margin of 28.0%. The company experienced strong group occupancy, servicing over 307,000 group room nights. Average Daily Rate (ADR) increased by 15% to nearly $217. The planned acquisition of Block 21 in Austin for approximately $260 million is expected to enhance its entertainment portfolio.
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