Ryman Hospitality Pptys Inc Stock Price, News & Analysis

Ryman Hospitality Properties (NYSE: RHP) has completed the acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa for approximately $865 million. The premier resort, situated on 402 acres in Arizona's Sonoran Desert, is one of the largest hotels in the Phoenix/Scottsdale area, featuring 950 guest rooms (including 81 suites) and 243,000 square feet of meeting space. The property has recently undergone nearly $100 million in renovations, including room upgrades, lobby enhancement, and improved amenities. Notable features include the 28,000-square-foot REVIVE Spa, seven dining outlets, the 140,000-square-foot AquaRidge water facility, and two championship golf courses designed by Nick Faldo and Arnold Palmer at Wildfire Golf Club.

Ryman Hospitality Properties (NYSE: RHP) has successfully closed a $625 million private placement of 6.500% senior notes due 2033. The net proceeds of approximately $614 million will primarily fund the pending acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa, valued at $865 million. The remaining acquisition cost will be covered by proceeds from a recently completed public offering of 2.99 million shares at $96.20 per share. The notes are senior unsecured obligations guaranteed by the Company and its subsidiaries. If the Desert Ridge acquisition fails to close, the notes will be subject to mandatory redemption at 100% of the issue price plus accrued interest. The notes were exclusively offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

Ryman Hospitality Properties (NYSE: RHP) has successfully closed its upsized public offering of 2.99 million shares of common stock at $96.20 per share, including 390,000 shares from the full exercise of underwriters' over-allotment option. The offering generated net proceeds of approximately $275 million.

The proceeds will be used to partially fund the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona. The remaining purchase price will be funded through cash on hand and approximately $614 million in net proceeds from a recently announced $625 million private placement of senior notes due 2033, expected to close on June 4, 2025.

Ryman Hospitality Properties (NYSE: RHP) has successfully upsized and priced a private placement of $625 million in senior notes due 2033, increased from the previously announced $600 million. The notes, carrying a 6.500% interest rate, will be issued by RHP Hotel Properties, LP and RHP Finance Corporation.

The net proceeds of approximately $614 million will partially fund the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa. The remaining purchase price will be funded through a combination of proceeds from a public offering of 2,600,000 shares at $96.20 per share and cash on hand. The notes offering is expected to close on June 4, 2025, while the stock offering is set to close on May 21, 2025.

Ryman Hospitality Properties (NYSE: RHP) announced a proposed private placement of $600 million senior notes due 2033. The notes will be issued through RHP Hotel Properties, LP and RHP Finance Corporation. The proceeds will partially fund the $865 million acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona.

The remaining acquisition cost will be covered through a public offering of 2,600,000 shares at $96.20 per share (priced on May 19, 2025) and cash on hand. If the Desert Ridge acquisition fails, the notes will be redeemed at 100% of the issue price plus accrued interest. The notes offering will be available only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

Ryman Hospitality Properties (NYSE: RHP) has upsized and priced its public offering of common stock at $96.20 per share. The offering size has been increased from 2,300,000 to 2,600,000 shares, with an additional 30-day option for underwriters to purchase up to 390,000 shares. The proceeds will primarily fund the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona. The offering is expected to close around May 21, 2025. Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities are serving as lead book-running managers for the offering.

Ryman Hospitality Properties (NYSE: RHP) has announced a public offering of 2,300,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 345,000 shares. The net proceeds will primarily fund the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona.

The remaining acquisition costs will be covered through a combination of cash on hand and debt financing. Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities are serving as joint book-running managers for the offering. The offering will proceed regardless of the Desert Ridge acquisition's completion, with proceeds redirecting to general corporate purposes if the acquisition falls through.

Trinity Investments has announced the sale of JW Marriott Phoenix Desert Ridge Resort & Spa to Ryman Hospitality Properties (NYSE: RHP) for $865 million. The transaction represents a significant return on investment, as Trinity originally acquired the property for $602 million in 2019. The 950-room hotel, Phoenix's largest resort, underwent a $100 million renovation in 2023 that included lobby updates, guest room redesigns, a new water park complex, and two new dining venues. The property, recently ranked among Phoenix's best hotels by U.S. News & World Report, is expected to change hands in Q2 or Q3 2025.

Ryman Hospitality Properties (NYSE: RHP) has announced a definitive agreement to acquire the JW Marriott Phoenix Desert Ridge Resort & Spa for $865 million. The property will continue to operate under Marriott International's JW Marriott flag. The purchase price represents a 12.7x Adjusted EBITDAre multiple on the property's 2024 results.

The resort, situated on 402 acres in Arizona's Sonoran Desert, features 950 guest rooms and 243,000 square feet of meeting space. Recent upgrades include nearly $100 million in capital investments, covering room renovations, lobby enhancement, and water amenity upgrades. The property boasts the 28,000-square-foot Revive Spa, seven dining outlets, the AquaRidge water amenity, and two golf courses.

The transaction is expected to close in Q2 or Q3 2025 and become accretive to adjusted FFO per share by 2026. The acquisition expands RHP's Western U.S. presence in Phoenix, a top 10 North American meetings market.