Ryman Hospitality Properties, Inc. Announces $131 Million Expansion at Gaylord Opryland
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) ha annunciato un'espansione da 131 milioni di dollari presso il suo flagship Gaylord Opryland Resort & Convention Center a Nashville. Il progetto aggiungerà circa 108.000 piedi quadrati di spazi per incontri di alta qualità, tra cui un ballroom di 31.000 piedi quadrati, 38.000 piedi quadrati di spazi breakout e 39.000 piedi quadrati di spazi pre-funzione.
L'espansione, prevista per completarsi entro la primavera del 2027, aumenterà lo spazio totale per esposizioni e riunioni del Gaylord Opryland a circa 756.000 piedi quadrati, mantenendo la sua posizione come il più grande hotel non dedicato al gioco d'azzardo per spazi espositivi e di riunione negli Stati Uniti. Questo progetto fa parte di un piano di trasformazione più ampio che include: una ristrutturazione del ballroom del Governatore da 17 milioni di dollari, una ristrutturazione del ballroom Presidenziale da 36 milioni di dollari e lo sviluppo di un nuovo sports bar da 40 milioni di dollari con spazi per eventi.
Ryman Hospitality Properties (NYSE: RHP) anunció una expansión de 131 millones de dólares en su emblemático Gaylord Opryland Resort & Convention Center en Nashville. El proyecto añadirá aproximadamente 108,000 pies cuadrados de espacio para reuniones de alta calidad, incluyendo un salón de baile de 31,000 pies cuadrados, 38,000 pies cuadrados de espacio para talleres y 39,000 pies cuadrados de espacio para pre-funciones.
La expansión, que se completará para la primavera de 2027, aumentará el espacio total de exhibición y reuniones de Gaylord Opryland a aproximadamente 756,000 pies cuadrados, manteniéndose como el hotel no destinado al juego más grande de los Estados Unidos en términos de espacio de exhibición y reuniones. Este proyecto forma parte de un plan de transformación más amplio que incluye: una renovación del salón del Gobernador de 17 millones de dólares, una renovación del salón presidencial de 36 millones de dólares y el desarrollo de un nuevo bar deportivo de 40 millones de dólares con espacios para eventos.
라이먼 호스피탈리티 프로퍼티스 (NYSE: RHP)는 내슈빌에 있는 대표적인 게이로드 오프리랜드 리조트 및 컨벤션 센터에서 1억 3,100만 달러 규모의 확장 계획을 발표했습니다. 이 프로젝트는 약 10만 8,000 평방피트의 프리미엄 카펫 회의 공간을 추가하며, 그 중 31,000 평방피트의 연회장, 38,000 평방피트의 브레이크아웃 공간, 39,000 평방피트의 프리펑션 공간이 포함됩니다.
2027년 봄까지 완료될 예정인 이 확장은 게이로드 오프리랜드의 총 전시 및 회의 공간을 약 75만 6,000 평방피트로 늘려 미국 내 비도박 호텔 중 전시 및 회의 공간이 가장 큰 호텔로서의 위치를 유지합니다. 이 프로젝트는 1,700만 달러 규모의 주지사 연회장 리노베이션, 3,600만 달러 규모의 대통령 연회장 리노베이션, 4,000만 달러 규모의 새로운 스포츠 바 개발과 이벤트 공간이 포함된 더 큰 변화 계획의 일환입니다.
Ryman Hospitality Properties (NYSE: RHP) a annoncé une expansion de 131 millions de dollars de son emblématique Gaylord Opryland Resort & Convention Center à Nashville. Le projet ajoutera environ 108 000 pieds carrés d'espace de réunion premium, y compris un grand hall de 31 000 pieds carrés, 38 000 pieds carrés d'espace de travail et 39 000 pieds carrés d'espace de pré-fonction.
L'expansion, qui devrait être achevée d'ici le printemps 2027, portera l'espace total d'exposition et de réunion de Gaylord Opryland à environ 756 000 pieds carrés, maintenant ainsi sa position en tant que plus grand hôtel non-joueur par espace d'exposition et de réunion aux États-Unis. Ce projet fait partie d'un plan de transformation plus large qui comprend : une rénovation du grand hall du Gouverneur de 17 millions de dollars, une rénovation du grand hall présidentiel de 36 millions de dollars et le développement d'un nouveau bar sportif de 40 millions de dollars avec des espaces pour événements.
Ryman Hospitality Properties (NYSE: RHP) hat eine Erweiterung in Höhe von 131 Millionen Dollar für sein Flaggschiff, das Gaylord Opryland Resort & Convention Center in Nashville, angekündigt. Das Projekt wird etwa 108.000 Quadratfuß hochwertigen, mit Teppich ausgelegten Tagungsraum hinzufügen, einschließlich eines Ballsaals mit 31.000 Quadratfuß, 38.000 Quadratfuß für Breakout-Räume und 39.000 Quadratfuß für Vorbereitungsräume.
Die Erweiterung, die bis zum Frühjahr 2027 abgeschlossen sein soll, erhöht die Gesamtfläche für Ausstellungen und Tagungen im Gaylord Opryland auf etwa 756.000 Quadratfuß und sichert damit seine Position als das größte nicht-spielende Hotel in den Vereinigten Staaten nach Ausstellungs- und Tagungsfläche. Dieses Projekt ist Teil eines umfassenderen Transformationsplans, der eine Renovierung des Ballsaals des Gouverneurs in Höhe von 17 Millionen Dollar, eine Renovierung des Präsidentschaftsballsaals in Höhe von 36 Millionen Dollar und die Entwicklung eines neuen Sportbars in Höhe von 40 Millionen Dollar mit Veranstaltungsräumen umfasst.
- Addition of 108,000 sq ft of premium meeting space strengthens market position
- Total investment of $224 million in property improvements and expansions
- Expansion increases meeting space per guest room to 260 square feet
- Project leverages growing Nashville tourism market
- Maintains position as largest non-gaming hotel meeting space in US
- Significant capital expenditure requiring debt financing through credit facility
- Extended construction timeline until Spring 2027 may impact operations
- Multiple simultaneous renovation projects could cause disruption to existing business
Expansion Adds Approximately 108,000 Square Feet of Premium, Carpeted Meeting Space
NASHVILLE, Tenn., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company” or “RHP”), a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, announced plans to add approximately 108,000 square feet of premium, carpeted meeting space to its flagship Gaylord Opryland Resort & Convention Center in Nashville, Tennessee.
The planned expansion, expected to be complete by Spring 2027, includes a new approximately 31,000-square-foot ballroom, approximately 38,000 square feet of breakout space and approximately 39,000 square feet of pre-function space. Once complete, this project will bring Gaylord Opryland’s total exhibit and meeting space to approximately 756,000 square feet and its meeting space per guest room to approximately 260 square feet, solidifying its status as the largest non-gaming hotel by exhibit and meeting space in the United States.
Mark Fioravanti, president and chief executive officer of Ryman Hospitality Properties, said, “In recent years, Nashville's popularity as a top meetings destination has skyrocketed, and we anticipate annual visitors and spending to continue this upward trajectory. Our premium group customers are seeking modern, flexible carpeted meeting space, and this expansion will deliver the high-quality experience our guests have come to expect from us. In addition, we believe this expansion will attract new corporate groups to Music City.”
The meeting space expansion is the latest in a multi-phase transformational capital improvement plan to enhance the guest experience at Gaylord Opryland. Other previously announced projects include:
- An approximately
$17 million transformation of the Governor’s ballroom and pre-function space, expected to be complete by the end of January 2025; - An approximately
$36 million renovation and reconfiguration of the Presidential ballroom and pre-function space, which is currently underway and expected to be completed by mid-year 2025; and - An approximately
$40 million new 550-seat sports bar, approximately 6,200 square-foot event lawn and approximately 3,000-square-foot pavilion, expected to be completed in late 2025.
The Governor’s and Presidential ballrooms and pre-function spaces are centrally located within the hotel’s convention corridor and comprise approximately
Fioravanti continued, “These projects leverage our deep customer relationships, strong partnership with our hotel operator and key learnings from similar recently completed projects across our portfolio, transforming previously underutilized areas on our Opryland campus into valuable space for our customers to enjoy. Gaylord Opryland has been an iconic national destination for nearly 50 years, and we expect that these transformational projects will drive its next phase of growth.”
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company’s holdings include 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, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns the JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to our Gaylord Hotels properties. The Company’s hotel portfolio is managed by Marriott International and includes a combined total of 11,414 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns a
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding planned completion dates for expansions and other projects at Gaylord Opryland and the expected cost of expansions and other projects at Gaylord Opryland. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with expansions and other projects at Gaylord Opryland, including, but not limited to, the occurrence of any event, change or other circumstance that could delay the completion of the meeting space expansion or other projects at Gaylord Opryland, or result in increased costs with respect to the meeting space expansion or other projects at Gaylord Opryland. Other factors that could cause results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent filings. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
| Investor Relations Contacts: | Media Contacts: |
| Mark Fioravanti, President and Chief Executive Officer | Shannon Sullivan, Vice President Corporate and Brand Communications |
| Ryman Hospitality Properties, Inc. | Ryman Hospitality Properties, Inc. |
| (615) 316-6588 | (615) 316-6725 |
| mfioravanti@rymanhp.com | ssullivan@rymanhp.com |
| ~or~ | |
| Jennifer Hutcheson, Chief Financial Officer | |
| Ryman Hospitality Properties, Inc. | |
| (615) 316-6320 | |
| jhutcheson@rymanhp.com | |
| ~or~ | |
| Sarah Martin, Vice President Investor Relations | |
| Ryman Hospitality Properties, Inc. | |
| (615) 316-6011 | |
| sarah.martin@rymanhp.com |
FAQ
What is the total cost of RHP's Gaylord Opryland expansion project?
When will RHP complete the Gaylord Opryland expansion project?
How much meeting space will Gaylord Opryland have after RHP's expansion?
What additional projects is RHP undertaking at Gaylord Opryland?
How is RHP funding the Gaylord Opryland expansion projects?
